RICS Rules of Conduct and Global Professional Standards
RICS Valuation - Global Standards (Red Book 2025): PS 1, PS 2, VPS 1 to 6 – RICS Rules of Conduct and Global Professional Standards

RICS Rules of Conduct and Global Professional Standards RB-PS1-1: Red Book: mandatory for written valuations; automated models and AI need a valuer's judgement

The two PS standards and VPS 1 to 6 are mandatory for any member or regulated firm undertaking or supervising valuation services through written valuation advice (including those who produce but do not sign, or sign as supervisors), and members must meet the Valuer Registration Scheme requirements. Output from an automated valuation model, valuation software or template automation, or an AI-assisted model counts as a written valuation only once a valuer has applied professional judgement under the standards; AI use is permitted subject to judgement and proportionate attention to confidentiality, intellectual property, checking of data and inputs, assessment of outputs, transparency with users and other ethical, technical and legal matters; scraped or API-sourced data is usually acceptable on the same conditions.

Maintained by Gerard BlokdykVerified against the published standard Control text last updated

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