I'm now based in London, and have noticed a fair few jobs preferring a certification from the Royal Institution of Chartered Surveyors which appears to offer a CFA of sorts with a real estate focus. Has anyone gone through this program, and if so would you recommend?
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I wouldn't waste your time getting qualified especially in investment sales/REPE role. Most brokers in the UK are qualified as they typically go through the structured graduate programmes at the big agencies (CBRE, JLL, C&W, KF, etc) but it doesn't actually give you an edge.
You don't give much away in the post but if you're going into investment sales or REPE, I wouldn't bother.
I went through this program and qualified as a Chartered Surveyor a couple of years ago. Whilst intensive/stressful at times it has definitely been worth it both financially and in terms of career development given it is very highly sought of in the UK and in many other parts of the world. I suppose if you intend on staying in the UK for some time or fancied a move somewhere else in Europe, Asia or Africa, I would definitely consider it.
Contemplating going through the process in UK - do you think it holds a lot of weight outside of brokerage? Ultimate goal is REPE/Development and unsure of whether it's best to start in brokerage and stick out the 2-3 years getting RICS certified or to try and move to REPE/Dev as soon as possible.
The MRICS designation in the UK carries a significant amount of weight not just in brokerage but also in development and REPE (generally the real estate sector as a whole). Also you wouldn't have to start out in a brokerage to get your RICS accreditation, you just have to find a company that will support you through your structured training.
In the US, RICS is generally only associated with appraisers and consultants, but it is a very hard to get designation so it does carry some weight. My understanding is that is a big deal in UK, Europe, Australia, so you may get a lot from it.
Still, I wouldn't equate it to a CFA, that one stands alone. CAIA has real estate and other alternatives like HF and PE, that is probably more comparable on the investment/finance spectrum.
There is a list of reciprocal memberships As well, an MAI in the United States can directly apply for a MRICS designation with a sponsor and a total of 10 years of experience.
Now that you mention it, it I think that is how most people I know with an MRICS or FRICS got theirs, via reciprocity.
In Europe it is very useful in valuation roles, but only for them for what I see.
The head of investments for my REPE firm is from the UK and has this designation. Until I read this thread I literally thought it meant he used to survey roads or something back in the day haha.
I recommend to focus on other areas. based on my view RE firms hire you because of:
1) Experience: What kind of background do you have, which roles, firms, university etc. 2) Network: Do they know you and what are people within the firm think about you. 3) Post master: CFA, CAIA, RICS etc.
There are alot of senior managers / managing directors without post master degrees or getting such a diploma in a late stage of their career. RICS for a valuation role is interesting, because clients care about such a qualification. Otherwise, its just a bonus.
OP Here: I've been the UK about two years now and my sense is that it's a credential with limited value. It's useful if you want to be a valuer, or potentially work for a listed real estate company. I think it was thought of more highly a generation back, and as such you see a lot of chartered surveyors in the C suite. CapCo for example.
https://www.capitalandcounties.com/about-capco/leadership
I'm sorry I really disagree with your statement about it being thought of more highly a generation back. I think if anything it's gained credibility over the years given the assessment is much harder than previously and with the Chartered Surveying pathway growing in popularity in recent years, the standard of applicants is far greater. Many of which come from top institutions such as Cambridge. The MRICS designation is recognised as the gold standard within the real estate industry here so if you're from the UK and you're a real estate professional, then it's almost a requirement these days to be accredited (excluding estate agents for the most part and those with a finance heavy background CFA etc), as it is seen to separate the wheat from the chaff from a recruiting perspective. It might be of limited value to someone from abroad operating in the UK (such as yourself) given it's not a designation as recognised in your home country and you will not be expected to have it.
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