2025 Current Topics

Question 1

Please explain your understanding of the RICS Harris Debate.

Answer 1

Annual debate held by the RICS.
Addresses ethical concerns in the field of surveying.

Question 2

What was discussed at the 2024 Harris Debate?

Answer 2

• Focused on AI and ethical considerations.
• The impact AI in valuation practices.

Question 3

What are disadvantages for using AI in valuation?

Answer 3

• Site specific information cannot be considered (property condition).
• Susceptibility to rely on bad data which can reduce accuracy.

Question 4

What are the ethical concerns with the adoption of AI for the purposes of valuation?

Answer 4

• AI algorithms rely on data. Data can be inaccurate, incomplete or weighted following bias data input.
• causes skewed results.
• Transparency of the data input.
• Full AI valuation is not compliant.

Question 5

What impact will the Labour government have on the industry?

Answer 5

• House targets and update to NPPF.
• Infrastructure Projects drive.
• Focus on sustainability.
• Skills development - attempts to tackle skills shortage.

Question 6

What are the impacts of the US elections?

Answer 6

• Currency fluctuations
• Impact on Interest Rates
• US trade policy and tariffs could result in higher costs for builders.

Question 7

What happened at COP29?

Answer 7

• Focus on addressing the climate change finance gap.
• Global carbon market

Question 8

What is a global carbon market?

Answer 8

• Designed to help reduce global greenhouse gas emissions by putting a price on carbon to incentivise countries and companies to innovate and invest in cleaner technologies.

Question 9

Can you provide an overview of the 2024 RICS Sustainability Report?

Answer 9

• Key Findings:
• Increase demand for green buildings
• High upfront cost and insufficient government incentives form a barrier to meeting demand.
• Need for consistent sustainability measurement.
• Level of commitment and action needs to increase to achieve 2050 goal.

Question 10

What is your understanding of MEES?

Answer 10

• Minimum Energy Efficiency Standards.
• Min EPC for buildings (E currently)

Question 11

What are the RICS policies on DE&I?

Answer 11

• Priority for RICS.
• Recognises lack of diversity.
• RICS Policy Doc - “Diversity, Equity and Inclusion” - sets out action plans for firms to support attracting talent and retaining talent.

Question 12

Can you explain your understanding of diversity?

Answer 12

• refers to who we are and what makes us different
• can be in relation to skin colour, socio-economic background, disability, education, religious beliefs
• organisations with a diverse workforce are proven to be more effective and better places to serve their communities.

Question 13

Can you explain your understanding of Equity?

Answer 13

• recognition that all employees may not have been afforded the same opportunities and looks to address these imbalances.
• Ensuring each person has the right tools and support to fulfil their potential regardless of their career starting point.

Question 14

Can you explain your understanding of Inclusion?

Answer 14

• key part of an organisations culture and aims to improve inclusivity of all personnel regardless of their background.

Question 15

RICS guidance on Social Media?

Answer 15

• Guidance note - ‘Use of Social Media: Guidance for Members Version 1’ June 2021
• Focus on Rules of Conduct

Question 16

Benefits for Diversity and Inclusion?

Answer 16

• Attracts skilled professionals
• increases productivity
• sense of belonging
• Employees feel more connected

Question 17

What are the guidelines for using the RICS logo?

Answer 17

• Split into use for firms and personal use
• Guidelines contain detailed information regarding correct usage which is approved by the Standards and Regulation Board.
• RICS member can use on business cars and email.

Question 18

What are the general requirements for PII set out by the RICS?

Answer 18

• ‘each and every’ claim basis
• RICS sets out the min levels of indemnity
• Policy must be fully retroactive
• RICS sets out max levels of uninsured excess
• Run off cover must be in place
• Policy should cover past and present employees, directors and partners.

Question 19

Tell me something recent about the RICS?

Answer 19

• The RICS are updating the Countering financial crime standard.
• To address the evolving landscape of financial crimes and incorporating the latest developments in technology and global trade.
• This global standard will help you to manage the current risks posed by bribery, corruption, money laundering, and terrorist financing, and navigate and mitigate emerging financial crime threats.