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RICS Guidance Note Environmental Issues and Global Real Estate

Tuesday, 20 November 2018

RICS Guidance Note Environmental Issues and Global Real Estate

Philip Wilbourn at PAI member Wilbourn & Co has spoken to fellow members on the new RICS Guidance Note:

The emergence of a new generation of RICS guidance places the surveyor in control of the agenda in terms of reporting on environmental issues. No longer can the surveyor hide behind weasel words and caveats. Clients expect to be told if their property is affected by environmental issues that might impact on the value and the new RICS Guidance Note Environmental Issues and Global Real Estate does just that.

It is designed to underpin the Global Valuation Standards 2017 which incorporated critical provisions to enable the assessment of natural, non-natural and hazardous existing uses to be incorporated in a Red Book Valuation. Valuers in particular need not be as afraid in addressing these issues any longer. Clients require more from their professional advisors. 

All PAI member firms were present as Philip Wilbourn the author of the new Guidance Note and CEO of Wilbourn & CO a PAI firm, presented an outline as to the issues that all stakeholders particularly valuers face.  The presentation of valuation reports is entering a new paradigm in terms of reporting and PAI member firms appreciate that the client needs more and online reports simply won’t do. 

With the real issue perhaps being how stakeholders in real estate are damaging the global environment; quantifying how the environment impacts on global real estate is a major step towards a sustainable future.

 Find out more more here.