AI Property Valuation Gets First Global Standard

AI Property Valuation Gets First Global Standard

RICS is developing the first global practice guidance on artificial intelligence in real estate valuation, with public consultation opening in Q2 2026 and final publication expected later in the year. The Royal Institution of Chartered Surveyors' framework will define how AI property valuation tools interact with professional judgment across international markets.

The guidance covers three areas: how AI integrates with established valuation methodologies, what risks and opportunities AI introduces to valuation practice, and how firms should source, verify, and rely on data produced by AI real estate tools.

RICS positioned the guidance as a way to maintain professional standards behind accurate, reliable valuations while AI adoption accelerates across the industry. Public trust in valuation advice depends on clear guardrails, the institution noted, particularly as automated models become standard practice.

Christopher de Gruben, Director and Head of Property at Artefact and RICS examiner who co-chaired a working group on responsible AI use in surveying, is leading the effort alongside Onur Demirci, a Data and AI specialist who chairs a dedicated RICS AI working group.

The timing is significant. Property valuations increasingly run through automated models processing MLS records, tax data, and economic indicators via machine learning. Domestic regulators are moving in parallel — federal appraisal rules from the CFPB and state-level AI requirements in Colorado and California arrive in the same window. The RICS guidance adds an international professional layer that complements these domestic regulatory frameworks, giving firms operating across borders a single reference point for responsible AI use in valuation work.

For construction and real estate firms already navigating a fragmented regulatory landscape, the RICS framework offers something regulators have not yet provided: a unified set of professional expectations that cross jurisdictions. Whether an AI model prices a commercial property in London or a residential lot in Denver, the same practice standards would apply.

Sources

• AI in Real Estate Valuation — Royal Institution of Chartered Surveyors (RICS)