Why is it important to develop long-term client relationships?
Developing long-term client relationships is important because it builds trust and allows surveyors to gain a deeper understanding of a client’s strategic objectives. This enables more tailored advice and helps deliver better outcomes over the long term.
What different stakeholders have you come across in your role?
Across both my current job and previous job I have come across a range of stakeholders, including: • Internal clients • External clients • Surveyors • Tenants • Property Managers • Contractors
How have you tailored your client care to Property Managers?
Provide clear and timely information, ensuring they are informed of leasing updates, tenant issues and operational matters.
Why is it important to you to set objectives?
So that both myself and my client are clear on the objectives that we are working towards, this helps ensure that the scope of work is defined and measurable.
What is your duty of care towards your clients?
- act competently
- diligently
- in the best interests of the client
- while maintaining professional standards.
How have you defined your scope of services within the limits of your competence and PI insurance?
I define the scope of services through clear Terms of Engagement, ensuring the instruction falls within my professional competence and the scope of my firm’s professional indemnity insurance. If work falls outside my expertise, I would seek specialist input or advise the client accordingly.
How have you used standard forms of appointment?
In a previous role, in valuation I issued Terms of Engagement before commencing valuation instructions.
What mechanisms are contained within an appointment document?
- Scope of services
- Fee arrangements
- Cap on PI excess
- Professional indemnity insurance details
Complaints handling procedures
- Professional indemnity insurance details
- Conflict of interest provisions
- Assumptions
- Termination clauses
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What insurance requirements are you aware of (both legal and RICS)?
• PII • Public Liability Insurance
How are stakeholders identified?
They are identified by considering all parties who have an interest in or may be affected by a project or asset.
How do you establish a stakeholders status within a project?
By identifying their role in the project and assessing their level of influence and interest.
Explain formal communication systems with clients and stakeholders you are aware of.
• Written Reports • Formal meetings • Emails • Formal Letters • Terms of Engagement
What KPIs might you agree with a client to monitor performance?
• Occupancy Rate • Rental Growth • Net Operating Income • Rent Collection
Why is it important to maintain good client care?
- To maintain integrity
- To provide the best service to clients
- To promote trust in the profession
- To retain work and potentially cross-sell
- Repeat/new business
What are the contents of a typical set of Terms of Business/Engagement?
• Property • Client • CHP • PII • Fee basis • Payment of expenses
How can you ensure that you are servicing key client instructions to the best of your ability?
- Understand my client’s objectives and requirements
- Listen to the client and seek formal and informal feedback
- Understand the client’s position and longer term goals adopting a holistic approach
- Responding speedily to queries
- Maintain regular contact and dialogue
- Introduce new opportunities
- Going above and beyond
What must you do before taking on an instruction?
• Check competence • Carry out COI check • Confirm in writing / terms of engagement
When would you consider declining an instruction?
• If I am not competent • If a conflict cannot be managed • If a client does not sign terms of engagement
What is your firm’s complaints handling procedure?
- This is managed by our Compliance Officer
- In the event clients would like to make a formal complaint, they are asked firstly to do so to the individual leading the instruction.
- If clients do not feel that is appropriate they can contact the Compliance Team. Compliance will write to the client setting out their understanding of the matter and ask that they confirm its accuracy before we investigate. Alternatively, they can send a written summary of their complaint to the Compliance Officer.
- Once a complaint has been received, Mileway will contact the client in writing within 5 working days to inform you of who will be responsible for investigating your complaint and how this will be conducted.
- Within 20 working days of written confirmation of the complaint, the person investigating the complaint will write to inform the client of the outcome and to let them know what actions have been, or will be, taken. If the complaint takes longer to investigate, Mileway will write to inform the client of our progress.
- If the complaint has not been resolved to the client’s satisfaction, Mileway will agree that the matter may be referred to one The Property Redress Scheme.
What are the key messages from RICS Complaints Handling (2016)?
- CHP’s mandatory in all terms of engagement
- Complaints log needs to be maintained
- Firms must have an ADR mechanism
- Terms of business are important, as complaints often arise when expectations have not been met.
- CHP’s have to be relevant
- Know your PII policy.
What would you do if you received a complaint from a client?
- In the first instance; take responsibility. Receive complaint, evaluate/review complaint with a director, discuss with and respond to claimant (client) and explore whether the complaint can be settled without escalating and going through the CHP.
- Notify Compliance Officer and put PII insurers on alert in case the complaint goes further.
- Direct them to the formal CHP if unable to resolve locally.
- Additional investigations, escalations, record keeping, learning from experience, identifying training needs, next PII renewal.
What are the mandatory timeframes for dealing with a complaint?
7 days to acknowledge, 28 days to respond
