Royal Institute of Chartered Surveyors & Real estate

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TheRealMissD
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I’ve recently been looking into Real estate and it interests me. However I’ve seen a lot of mention about “RICS” so the Royal institute of Chartered Surveyors. I don’t understand the importance of “RICS” and how it’s linked to real estate. I’m currently studying a Law with International Business and Management Course at uni and I’m in my second year. Perfectly good a levels, first year results were also pretty good too. I’ve seen on the Rics website mention of like accredited courses and many have business and management within them. One of my modules is Property law and another is Management and Strategy which I actually saw was quite important and I did stuff like Contract & Public law before. I guess that I would just like some knowledge on this all and maybe there will be someone on the student room with some insightful knowledge on RICS and the real estate sector. I also know there’s the Commercial real estate sector and real estate agent for associate RICS but that’s about it x
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timleebcu
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Hello, you've got some good and reasonable questions there that hopefully I can help with (I'm course leader for Real Estate at Birmingham City University)

If you want a professional property career chances are you are looking at becoming a chartered surveyor - which means full membership of the RICS. They gave many different routes to this - commercial property, valuation, property development, building surveying etc.

Most people going down a team estate route will be looking at the commercial, valuation or development routes. You mostly need an accredited degree and two years experience to apply for chartered membership. As you're in the second year your best route would be a one year masters (or two years part time if being supported by a company through their grad scheme).

In the career the chartered membership is key (makes insurance much easier gives clients confidence etc).

Most of the masters that you'll come across are geared up for people who did something else as an undergrad and are essentially an accelerated way to get he skills and knowledge you'll need - and having the base of a business related degree with some law and management in it should set you up pretty well.

Hope that helps,but do come back for anything else.
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TheRealMissD
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(Original post by timleebcu)
Hello, you've got some good and reasonable questions there that hopefully I can help with (I'm course leader for Real Estate at Birmingham City University)

If you want a professional property career chances are you are looking at becoming a chartered surveyor - which means full membership of the RICS. They gave many different routes to this - commercial property, valuation, property development, building surveying etc.

Most people going down a team estate route will be looking at the commercial, valuation or development routes. You mostly need an accredited degree and two years experience to apply for chartered membership. As you're in the second year your best route would be a one year masters (or two years part time if being supported by a company through their grad scheme).

In the career the chartered membership is key (makes insurance much easier gives clients confidence etc).

Most of the masters that you'll come across are geared up for people who did something else as an undergrad and are essentially an accelerated way to get he skills and knowledge you'll need - and having the base of a business related degree with some law and management in it should set you up pretty well.

Hope that helps,but do come back for anything else.
Thank you very much for responding, this is all very new to me because it didn’t even cross my mind that real estate would be linked to chartered surveyors or anything. I would like to work specifically in both the commercial and residential property sector selling property/helping to sell and buy property and so with this in mind, what do you suggest my best options are? (I apologise I’m sure you’ve already answered this question to be honest). Also, I feel as though I should mention that in my third or fourth year there is the option of a sandwich placement too. Please could also you explain what a ‘Chartered surveyor’ is?. So is RICS something to show that you’re a professional at what you do when it comes to property and is it applied for like when you’ve done the necessary requirements? (I’m still confused at the process). I’m very grateful to have received a response from a Real estate course leader so thank you so much for your time 😊
Last edited by TheRealMissD; 2 weeks ago
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timleebcu
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I think this page from the RICS is useful:

https://www.rics.org/uk/surveying-pr...-surveyors-do/

A chartered surveyor is someone (broadly) who has a relevant academic qualification and then has been recognised by the Royal Institution of Chartered Surveyors as being of sufficient practical professional ability to be recognised as someone who can practice in their specialism independently.

(Similarly you may have heard of Chartered Accountants - similar idea)

The RICS has 20+ different specialisms - Fine Arts, Antiques, Building Surveying, Construction, Development, Property, Valuation etc. and you would typically get qualified with them down one of those routes - for real estate that's probably Commercial Property Practice or Valuation (possibly development).

On top of your degree you need 2 years of relevant practice that is overseen by someone - at the end of which you have a final interview for about an hour with a panel of RICS members to apply for your chartered status. At that point you become much more valuable to companies and your pay will jump up.

The placement year that you have in your current degree may be a very good idea generally - but if you're looking at changing subject and doing a masters to transfer over then it's probably less advantageous (because it's going to be an extra year)
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TheRealMissD
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Thank you very much for explaining as I understand it a lot better. Thank you also for the website like as I’ve also had a look too. I apologise for the huge amount of questions 😅, I’m not sure if my course is RICS accredited so I’ll be emailing them and also would I need to look at RICS after I’ve finished my course and gotten my degree or is it possible to start during? (I’m unsure of the steps). My final question is that you said “if you're looking at changing subject and doing a masters to transfer over” but do you mean changing subject if my course isn’t RICS accredited?.

Thank you so so much for your time 😊
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timleebcu
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Your current degree almost certainly isn't accredited. If if were it would be called real estate/building surveying etc and you would have had modules on construction valuation property development etc.

Therefore you would need a conversion masters (often referred to as non-cognate) typically 1 year full time 2 years part time.

Potentially this might be paid for by an employer. The graduate schemes from the leading real estate firms often have a route for people who did something else as an undergrad. The schemes typically open in October and close in November - therefore you'd be looking to apply at this time next year.
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TheRealMissD
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Oh right okay, okay; thank you so so much. I understand it all a lot better now. Have a lovely rest of the day 😊
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