Case Study - Everyday ethics

Summary

Ella has undertaken a valuation of a property in Spitalfields, London for secured lending purposes. The agreement with the client stipulates that an estimate of Market Value and Market Rent will be provided. The borrower has stated to the client that the property will be let out immediately. On viewing the property, Ella discovers issues that would prevent the property from being let. The borrower is present at the viewing and creating an awkward situation and a potential ethical dilemma. Watch the video to see what happens.

Points to consider

These are the 5 RICS ethical standards that all members should be intimately familiar with:

• Take responsibility
• Treat others with respect
• Act in a way that promotes trust in the profession
• Always provide a high standard of service
• Act with integrity

You can read what these standards entail on the RICS website, under the Regulation section (see link under Related Content). How is Ella demonstrating the standards? (We have included a few hints in the video to get you going!) Remember that not all the standards may apply to a particular project that you may be working on.