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RICS (Royal Institution of Chartered Surveyors)

Red Book: Theory and Practice [APR 2020]

RICS Royal Institution of Chartered Surveyors

Tuesday, April 7, 2020 from 6:30 PM to 9:30 PM (HKT)

Red Book: Theory and Practice [APR 2020]

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Event Details

Date: Tuesday, 7 April 2020

Time: 6:30pm to 9:30pm 
Venue: Room 3707, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong
CPD hour: 3 hours
Language: English

Early bird discount: HK$1,500 (RICS Professionals); HK$1,750 (Non-RICS Professionals)

Course fee: $1,750 (RICS Professionals) ;$2,000 (Non-RICS Professionals)




This course will provide you with the essential skills you need to effectively interpret the Red Book Standards and put them into practice. Through a series of practical case studies, you will see how the Standards can be applied in different scenarios and the courses of action you will need to take.


The RICS Valuation – Professional Standards (the Red Book) is the mandatory standards that all valuers must adhere to. Understanding what is required under the International Valuation Standards is essential to producing accurate, compliant and professional valuation reports.


Using short exercises and discussions alongside a presentation to explain both the theory and practical elements of these valuation standards, this session will allow you to walk away from the day with confidence in your ability to produce red book compliant valuations. 


By the end of the course, you will be able to:


  • Apply the Red Book Standards in practice
  • Fulfil client requirements in accordance with the Red Book Standards
  • Demonstrate to current and potential clients that your work meets the industry recognised Standards of best practice and excellence
  • Produce valuation reports in accordance with Red Book Standards
  • Describe the role of compliance and RICS regulation
  • Difference between 2017 version & old version

Course Structure


  • Introduction to structure, aims and purpose of International Valuation Standards and the RICS Red Book
  • Qualifications, disclosure and compliance
  • Terms of engagement
  • Bases of Value
  • Using Depreciated Replacement Cost
  • Investigations and inspections
  • Valuation reports – the basic requirements
  • Putting this into practice - what the client wants to see, and why
  • Differences in valuation reports (accounts / commercial lending / sale & acquisition)
  • Regulated Purpose valuation
  • Investment & Development properties
  • Disclosures in the report
  • Dealing with uncertainty
  • Contamination and flooding



Course Content


The course has been designed to follow the structure of the Red Book and includes practical valuation issues. The course will include short lectures, group discussion and group exercises.





Mr. Adam Wellfair FRICS, IRRV
RICS Trainer, RICS Accreditied Mediator


RICS Trainer, APC Chairperson, APC Guide, Mentor and Assessor, RICS (ACRE) Accredited Mediator.

Adam is an experienced property professional with over 20 years of international real estate experience. he is well versed in property development, disposal, acquisition, property management and valuation. As well as being a capable people developer and mentor.


Adam is dedicated to passing on his knowledge, experience and passionate about learning and development to both students and professionals alike. Adam is an entrusted, enthusiastic mentor, advisor and counsellor. Having had active roles in industry as a Managing Director/Partner and a professional career in excess of 20 years in the United Kingdom, Middle East and Far East. Adam has extensive practical business and property expertise forming a grounded trustworthy professional, trainer and business aide.


Specialist in valuation, advisory and consultancy roles focusing on RICS compliance, in particular to the Practice and Guidance notes produced by the RICS.



 Who should attend?


The course is aimed at practising valuers who may undertake just a few valuations each year, students just completing their APC in valuation as well as more senior valuers regularly undertaking Red Book valuations who want to check that they are complying with the latest, newly published version of the Red Book.





Mr Peter Au, Business Development Manager

Tel: 2116 9719



  • The organiser reserves the right to cancel or reschedule the training at its discretion.
  • No refund or cancellation will be accepted, but a substitute delegate is normally permitted. Please inform the organiser of your substitute delegate at least 5 days before the training.
  • If a typhoon signal no. 8 or above, or black rainstorm warning is in force at least 3 hours before the programme is scheduled to begin, the training will be postponed until further notice. Otherwise, it will continue as scheduled.
  • Registration will only be confirmed upon receipt of completed registration form and full payment.
  • Upon completion of this event, a CPD certificate will be granted. A payment receipt along with the CPD certificate will be sent to you by email with 10 business days after the training.

Have questions about Red Book: Theory and Practice [APR 2020]? Contact RICS Royal Institution of Chartered Surveyors

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When & Where

RICS Hong Kong office
Room 3707-09, Hopewell Centre
183 Queen's Road East
Wanchai, Hong Kong
Hong Kong SAR China

Tuesday, April 7, 2020 from 6:30 PM to 9:30 PM (HKT)

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RICS Royal Institution of Chartered Surveyors

RICS promotes and enforces the highest professional qualifications and standards in the development and management of land, real estate, construction and infrastructure. Our name promises the consistent delivery of standards – bringing confidence to the markets we serve.


We accredit 125,000 professionals and any individual or firm registered with RICS is subject to our quality assurance. Their expertise covers property, asset valuation, real estate management; the development of infrastructure; and the management of natural resources, such as mining, farms and woodland. From environmental assessments and building controls to negotiating land rights in an emerging economy; if our members are involved the same professional standards and ethics apply.

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