When you need a formal property valuation for legal, financial or tax purposes, you need a RICS Registered Valuer — not just any property professional. This guide explains what the designation means and why it matters.
RICS Membership vs RICS Registered Valuer
RICS membership (MRICS or FRICS) covers a wide range of surveying disciplines including building surveying, project management, facilities management and quantity surveying — as well as valuation. A RICS Registered Valuer is a separate, specific designation for RICS members who have demonstrated competence in property valuation and are authorised to sign formal Red Book valuations.
Not all RICS members are Registered Valuers. When instructing a valuer for a formal purpose — Help to Buy, probate, matrimonial, capital gains tax — always confirm that the individual is a RICS Registered Valuer, not just a general RICS member.
What Is the RICS Red Book?
The RICS Valuation — Global Standards (commonly known as the Red Book) is the professional standard that governs the production of formal valuations. It sets out the basis of value to be used, the required contents of a valuation report, and the professional standards that valuers must observe. A Red Book compliant valuation carries professional liability and is recognised by courts, HMRC, mortgage lenders and other institutional bodies.
When Is a Red Book Valuation Required?
Formal RICS Red Book valuations are required for: Help to Buy equity loan redemption; probate and inheritance tax (HMRC requires a formal valuation of any property in an estate); matrimonial proceedings (courts require formal valuations when dividing assets); shared ownership staircasing; pension fund property holdings; and certain mortgage lending situations.
How to Verify a RICS Registered Valuer
You can verify a RICS Registered Valuer at rics.org/find-a-member. Search by name and confirm that their registration status shows “Registered Valuer”. Do this before instructing to ensure you receive a report that will be accepted for your purpose.