The government has won its battle to go ahead with the implementation of Home Information Packs (HIPs) next month.
MPs voted by 306 votes to 234 to proceed with the scheme, which starts on 1 June. The Conservatives had wanted to scrap the plan.
Despite this victory, the RICS still intend go ahead with the judicial review proceedings against the government for failing to carry out proper consultation on the packs.
Teresa Graham, chairman of the RICS regulatory board, said: “The RICS has not made the decision to commence judicial review proceedings lightly. We regret we have no other option if we are to protect the public’s property interests."
Under the scheme, all homes put up for sale in England and Wales must have an HIP and an energy performance certificate costing between £400 and £1,000.
Commenting on the result of the Commons vote on Wednesday Jeremy Leaf, a RICS spokesman, said: “The introduction of HIPs will have few benefits to the consumer and adversely affect the housing market and economy. The government should be brave and postpone their flawed plans."