The Royal Institution of Chartered Surveyors is a professional body that sets the standards for real estate valuation and surveying. The RICS Red Book, formally known as the RICS Property Valuation – Global Standards, provides guidelines and standards for valuing real estate. It is widely recognized as the leading global standard for property valuation and it provides guidance on the principles, procedures, and practice of real estate valuation.
RICS Red Book sets out the standards that RICS members must adhere to when carrying out real estate valuations. It covers a wide range of topics, including the purpose and scope of real estate valuation, ethical and professional conduct, and the process of valuing different types of property. The Red Book is intended to provide a consistent and transparent approach to real estate valuation that is based on sound professional principles and best practices.
RICS members who provide real estate valuation services are known as RICS Registered Valuers, who are bound by the RICS regulations, codes of conduct, and professional guidance as outlined in the RICS Red Book. These professionals are qualified, experienced, and knowledgeable in the field of real estate valuation and have demonstrated their competence through rigorous assessment and ongoing professional development.
RICS-registered valuers are able to provide valuations for a wide range of purposes, including property transactions, tax, probate, and matrimonial matters, as well as for financial reporting and accountancy purposes. EDS provides RICS real estate valuations, valuation reviews, and valuation expert witness services of commercial/industrial/high-value residential real estate throughout the Americas. We have prevailed as RICS real estate valuation expert witnesses in billions of dollars at issue in some of the world’s most important—high-profile—and valuable RICS real estate valuation-related litigation and Alternative Dispute Resolution (ADR) in the Americas.
Our RICS real estate valuation experts include internationally accredited ASA/MAI/RICS (Red Book) Valuation Instructors, Valuation Reviewers, and Former Regulators. All well-published luminaries in the global valuation community.
EDS Executive Managing Director, Steven N. Siegler, ASA, FRICS is the only Royal Institution of Chartered Surveyors accredited valuation expert witness in the United States and all of the Americas and one of only a handful of such RICS valuation expert witnesses in the world holding the much-coveted RICS Expert Witness Accreditation Service (EWAS) and Dispute Resolution Service (DRS) certifications.
Real property is defined as all the interests, benefits, rights, and encumbrances inherent in the ownership of the physical real estate. There are several specialties in real property: urban, residential, rural, timber, and ad valorem (property tax). Real property appraisal reviews include services for use in real estate acquisition and disposition, lending, insurance, estate taxes, property taxes and, eminent domain (condemnation), conservation easements, and leasehold interests.
EDS RICS real estate valuations are independent and objective and render credible findings that will withstand challenges and scrutiny from peer reviews and, regulatory, judicial, and taxing authorities.