Reflecting the changing nature of real estate and the work carried out by RICS members, this new professional standard covers residential and commercial auctioneering, property agency and property management as well as mixed-use real estate. Aiming to ensure that we not only reflect best practice now, but that we also drive forward the highest standards for the future, this professional standard addresses some areas that we haven’t covered before and we are keen to get feedback on how feasible this is. 

This standard is intended to replace, and significantly reduce the size of, the current Real Estate Agency and Brokerage 3rd edition (2016), creating a more succinct set of principles for RICS members and firms to follow, globally. These principles cover best practice in working with clients and managing business and staff.

Other existing RICS documents that are being consolidated as part of this project are:

Commercial Property Management in England and Wales, 2nd edition

Real Estate Management, 3rd edition

UK Commercial Real Estate Agency, 1st edition

UK Residential Real Estate Agency, 6th edition

Managing mixed use developments, 1st edition

RICS is currently working on new practical professional standards in both property agency and property management, for members and firms based in the UK.

Have your say on this consultation by 16th October 2023.