We are often asked to quote for Expert Witness reports, but our quotations are often compared to chartered surveyors and valuers that are not trained as Experts.
So, what is the difference between an expert valuer and an RICS Registered Expert Witness specialising in valuation?
If you were to request a valuation report from a chartered surveyor for a designated purpose, say to establish value for taxation, then this report must be prepared by an RICS Registered Valuer based on the industry standards contained in the RICS Red Book – our rule book and code of practice.
A report prepared by an Expert must still be prepared by an RICS Registered Valuer and, while it will have regard to the mandatory practices and guidance contained in the Red Book, the expert report does not have to be Red Book compliant – but it must address the questions raised in the instructions.
There are two types of experts – the Expert Witness, who is instructed by one party in a dispute, and the Single Joint Expert, who acts on instructions agreed upon between the parties to a dispute. In both cases, the expert owes their client(s) a duty of care, but the expert’s overriding duty is to the Court.
A trained expert will understand this dual duty to the client and Court; they will be trained to act within and comply with Civil or Family Procedure Rules, court orders, and Practice Directions; their reports will stand scrutiny; and they will be trained in negotiation with other experts as well as for court appearances.
In essence, an expert has invested in training to provide you or your client with a better service.
Renshaw Chartered Surveyors have done that; we are RICS Registered Expert Witnesses and members of the Expert Witness Institute.
Our expertise is in the valuation of residential, retail and industrial property.
Do you want to feel confident that you have the very best people representing you? If so, contact us today