ILM adopted REABS standards in Russia

British appraisers offer Russian real estate agents to work on the basis of 12 principles of professional ethics.

January 30, 2014 in Moscow, the British Royal Institute of Certified Appraisers (RICS) for Russian realtors, brokers and consultants in the field of real estate held a presentation of the International Standards for the quality of brokerage services (REABS). REABS standards are a set of rules and regulations that guide real estate professionals in Europe. The standards were developed at RICS, "they form the basis for the provision of high-quality agency and brokerage services, taking into account the specifics of local legislation and the market."

“In Russia, where there is a stereotype of dishonesty of realtors, the adoption of international standards, according to experts, will give a new impetus to the development of the market and will create a basis for trust in communications between all parties to the transaction,” British experts say.

Now REABS principles are applied by 110 European companies. In Russia, seven major players joined these standards last year: ILM, Jones Lang LaSalle, GVA Sawyer, Cushman & Wakefield, Colliers International, Knight Frank and IntermarkSavills.