Over 100 firms in continental Europe have signed up for the 'Regulated by RICS' label, the latest initiative by the Royal Institution of Chartered Surveyors (RICS) to increase transparency in the European real estate market.

So far, approximately 100 firms from more than 20 different countries have signed up to the new regulation, including 27 firms from Germany, 20 from the Benelux region, 10 from Spain, with a growing number in countries such as Italy, Portugal and France. Meanwhile over a thousand companies have expressed their interest in becoming RICS-regulated since the expansion of the label to Continental Europe in November last year.

In order to be able to register as a RICS-regulated firm and benefit from effective monitoring and regulatory advice, at least 50% of the directors/principals in the firm need to be RICS members and offer surveying services to the public. Registration is free of charge.

'High professional and ethical standards are of utmost importance in today's business world. RICS is an institution that leads the way in ensuring that these standards are observed and continuously improved,' said John Atkins, EC Harris Country Leader for Germany. 'EC Harris Germany is committed to these principals and we are very proud to be one of the first companies in Germany to be Regulated by RICS.'

Jaap van Rhijn MRICS from Colliers International, said: 'Colliers International was the first firm to subscribe to the ‘Regulated by RICS’ designation in the Netherlands. This designation, recently launched in continental Europe, represents the highest ethical standards in daily business practices.'