Think a “RICS Surveyor” Is a Property Valuer? You’re Not Alone…

In property, job titles get thrown around a lot — “valuer,” “surveyor,” “RICS surveyor,” “estate agent” “Chartered Surveyor”— but they often play very different roles and knowing who does what matters when you’re buying/selling/investing. It helps you know who you need and why!

If you’re mixing with property professionals - investors, solicitors, estate agents, brokers and so on - the chances are you’ve heard the terms “RICS Surveyor”, especially when talking about property values and valuations.

I’m a “RICS Surveyor” – not that I’d ever used that expression before mixing with other investors – but I’m not able to carry out property valuations.

What Even Is a RICS Surveyor?

Let’s untangle the confusion — especially around the term “RICS Surveyor”, which most people think means a professional valuer… but doesn’t. I have come across this a lot!

When people say “RICS Surveyor,” they’re usually talking about the person the bank sends to value a property.

But in truth, “RICS Surveyor” is not a defined job title — it simply means the person is a member of the Royal Institution of Chartered Surveyors (RICS). That could mean they're one of these three:

1)      AssocRICS – Associate level

2)      MRICS – Member

3)      FRICS – Fellow

Surveyors can specialise in a huge range of areas – Valuation being just one of them. They could be qualified in one or more of the following (though the list is not exhaustive):

🏗️ Building Surveying (what I have done for most of my career)

Inspections, defect diagnosis, repair advice, planning and building control applications, refurbishment oversight.

💷 Valuation (what I am qualified in)

Red Book valuations, market appraisals, investment analysis.

🏡 Residential Surveying (What I am recognised as in my professional membership!)

Home Surveys (Levels 1-3) – previously Condition Surveys, Home Buyer Surveys and Full Building Surveys

📐 Quantity Surveying

Cost planning, budgeting, contract management in construction.

🏞️ Rural Surveying

Farm and land management, diversification, tenancy advice.

🏢 Commercial Property

Lease negotiations, portfolio management, acquisitions.

🧱 Development & Planning

Site appraisals, feasibility reports, planning advice.

🧾 Dispute Resolution

Acting as expert witnesses or mediators in property disputes.

🌍 Sustainability

Advising on environmental standards, energy ratings, and ESG.

Even an Antiques Expert!

Appraising, valuing, and advising on the purchase, sale, and management of valuable historical and cultural objects. 

And a Chartered Surveyor?

A Chartered Surveyor is a property professional who has achieved MRICS or FRICS status — typically after years of structured training and assessment (12 years for me!!). It’s a protected title that signifies high professional standards.

But again, it doesn’t necessarily mean they’re a Valuer.

What Is a RICS Registered Valuer?

A RICS Registered Valuer is someone who has met specific requirements to provide formal, regulated Red Book valuations (the Valuer’s “Bible” officially named “RICS Valuation - Global Standards”) — the kind relied on by:

• Mortgage lenders

• HMRC (for tax or probate)

• Courts (for divorce or legal disputes)

• Accountants and pension trustees

  
  

To become one, you must:

• Be a member of RICS (AssocRICS - Associate, MRICS – Member or FRICS - Fellow)

• Undertake specialist valuation training

• Join the Valuer Registration Scheme

• Be adequately insured

And, like all RICS Qualified Surveyors:

• Be subject to RICS monitoring and compliance checks

• Stay up-to-date with CPD (annual minimal Continuing Professional Development) and ethics requirements

  
  

Red Book valuations must be objective, justified, and evidence-based — and the valuer is required to remain impartial, regardless of who pays for the report (though with mortgage lending, the duty of care is to the lender – not the buyer, another common misconception).

How is a Registered Valuer’s Role Different to an Estate Agent’s?

An estate agent helps market and sell property. They give price advice, organise viewings, and negotiate sales — usually working in the seller’s interest.

That’s very different to a valuer, who provides an independent assessment of value, often for legal or lending reasons.

You might hear an agent say a house is worth £300,000, but that’s not a formal valuation — it’s a market appraisal.

A Registered Valuer must consider far more than just “what similar properties sold for.” Their work is bound by strict professional and lender requirements, including:

• Knowledge of building defects – recognising issues such as subsidence, damp, roof movement, non-standard construction, or structural alterations, and knowing if these are material to a lender’s risk.

• Awareness of legal issues – restrictive covenants, short leases, flying freeholds, easements, or title irregularities that could affect value or saleability.

• Understanding lender appetite – knowing which property types certain lenders will or won’t lend on (e.g. high-rise flats, ex-local authority houses, system-built homes).

• Strict geographic competency – valuers can only work within a defined local radius, ensuring they have detailed knowledge of the market, property types, and micro-locations.

• Risk-focused valuation – the primary purpose is to assess security for the lender, not just market appeal.

• Understanding the appropriate basis of valuation — this is the method of valuation such as the Comparable method (standard residential), the Investment Method for income-producing assets, or the Residual Method for development sites.

  
  

On The other hand, an estate agent will work from a narrower perspective:

• Market-focused pricing – suggesting an asking price based largely on recent comparable sales and current buyer demand.

• Sales-driven perspective – working for the seller, often aiming for a price that attracts interest and achieves the best result for their client.

• No formal inspection or defect analysis – while some experienced agents may spot obvious issues, they are not assessing the property for lender risk or legal compliance.

• Wider area coverage – agents are not restricted and can choose to cover multiple towns or regions.

  
  

Hypothetical Examples of the Difference

(hypothetical but based on common valuation scenarios)

Example 1 – Ongoing Structural Movement

An estate agent lists a Victorian terrace at £175,000 based on recent sales in the street. A Registered Valuer inspects for the lender and notices stepped cracking and uneven floors, consistent with possible subsidence. Under RICS and lender requirements, the valuer must return a £0 valuation until professional, independent crack monitoring confirms stability — a process that can take 12–18 months.

A zero valuation isn’t a “bad” outcome — it’s a safeguard. It protects both the lender and the buyer from committing funds before the property’s structural stability is proven.

Example 2 – Lender Appetite for Property Type

A flat in a 10-storey ex-local authority block is marketed at £120,000. The estate agent uses similar flats in the building as comparables. The valuer, however, knows that many mainstream lenders will not lend on high-rise ex-local authority stock. Despite recent sales, the restricted lender market affects value. The Red Book valuation comes in lower than the asking price to reflect lender risk.

My Own Path (and Why I’m Not Registering as a Valuer)

I’ve recently qualified as a valuer after six years of stop-start study, alongside building my own investment portfolio and portfolio-building business and carrying out surveying work (building and residential).

I now meet all the technical requirements to become a RICS Registered Valuer — but I’ve chosen not to register.

Why? Because I am using my training to assess risk, spot value, and make informed investment decisions — both for myself and the investors I work with. I’ve taken the knowledge, but I don’t need the formal regulation.

So, while I’ve qualified as a valuer, I’m not offering Red Book valuations. And I think it’s important to say that clearly — especially because so many people misunderstand the terms. There’s also the fact that it’s an incredibly litigious profession with Pii to reflect that – even more so for the newly qualified!

Final Thought

So, when people say, “I need a RICS Surveyor to value my property,” what they mean is:

🔍 “I need a RICS Registered Valuer — someone officially authorised to carry out formal Red Book valuations.”

If you’re hiring someone to value a property, if you’re asking: “Are you a RICS Surveyor?”

It might be clearer to check:

• Are you a Registered Valuer?

• Are you qualified (and insured) to carry out a Red Book valuation?

• Are you regulated by RICS for valuation work?