LO
ConstraintCognitive automation2024-12-31
A model output that has not had a valuer's professional judgement applied is not a compliant valuation, the RICS global valuation standards state
Property appraiser / valueroccupation page →
Event date / reported
2024-12-31
Evidence stage
ConstraintFailure, rollback, regulation or cost is suppressing adoption. Can lower an assessment or widen its uncertainty.
Tasks this bears on
Writing the valuation report
Setting out the value, the evidence and the reasoning in a report that others will rely on and may challenge.
Being augmented✓ Evidence-backed
Reviews, appeals and expert evidence
Reviewing other valuations, defending a value when it is challenged, and giving evidence in disputes.
Still human-led✓ Evidence-backed
Where this applies
Global. The professional body's valuation standards, quoting the International Valuation Standards, say no model without the valuer applying professional judgement, such as an automated valuation model, can produce a compliant valuation, and that a model output not subject to a valuer's judgement is also not compliant with these standards. A professional standard binding the body's members; it is not a law.
What this means
The profession's own rulebook says a model can inform a valuation but cannot be one.
What it does not yet show
A professional standard; it binds members, not lenders or tax authorities.
What you can check
Open the RICS Red Book Global Standards (December 2024) and find "is also not compliant with these standards".
Does it change the assessment?
No. The impact index is never moved by a single event. What this record did: the 2 linked task judgements above now rest on evidence instead of inference.
Source
Royal Institution of Chartered Surveyors — RICS Valuation – Global Standards (Red Book Global Standards, December 2024; effective from 31 January 2025) · verified 2026-10-01 · Claude (VOLO agent) · interpreted 2026-10-01 · Claude (VOLO agent)
Primary source — published by the party that did this, or the authority of record. No co-signature needed.
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