RICS Valuations - not always bricks & mortar

The Royal Institute of Chartered Surveyors has released new guidance notes on valuations. With an emphasis on an area which will come as a surprise for many. 

The general conception of a RICS valuer is that the work relates solely to the bricks and mortar of a property. But here the institute considers the value of intellectual property. This awareness of assets that are not fixed nor tangible is a clear sign of the times where so much of what we do is, in essence, virtual. A business no longer relies on 4 walls, a floor and a sign above the door - the frequency of "hot desks" or even no desks becomes more and more widely spread as meetings are held over Skype from an iPad.

RICS states that they intend to establish "industry-wide professional standards, and ensure that RICS members provide the highest quality and consistency in valuation services". It goes on to explain that the purpose of the guidance note that was released in May 2015 is to:

• Identify factors that should be considered when assessing the legal, functional and economic characteristics of IP
• Consider how these characteristics influence the appropriateness of each valuation approach
• Describe how the characteristics of different types of IP should be integrated into a valuation analysis

In fact, RICS valuations are a much wider ranging discipline that we may ever conceive. Our initial thoughts are simply of valuing a home prior to sale. But actually, valuations can include Arts & Antiques, Machinery & Business Assets and Business Valuation. Of course, now it becomes clear why the IP value is so important. As RICS so rightly states, "professional business valuations are vital to a healthy market and stable economy". And as we all know, a stable economy means a rise in house prices and financial benefits for us all.


Dawson & Associates is able to provide property valuations for:

• Letting valuations
• Leasing valuations
• Investment valuations
• Mortgage valuations
• Rating valuations
• Insurance valuations
• Compensation valuations
• Taxation valuations
• Probate valuations

We assess value by the worth of property and land combined with external factors such as the age, condition, location of the property and the comparison of that property with similar properties in the area.

If you would like to contact us to provide a valuation or any other property-related matter, please feel to call 01424 88223. Initial advice is free of charge.