The Royal Institution of Chartered Surveyors (RICS) has established a working group to examine the issue of transparency, particularly in professional fees. The working group is chaired by RICS President, Peter Goodacre, and includes RICSs and independent members.
The Royal Institution of Chartered Surveyors (RICS) has established a working group to examine the issue of transparency, particularly in professional fees. The working group is chaired by RICS President, Peter Goodacre, and includes RICSs and independent members.
RICS said the group will seek evidence from as many people and organisations as possible. To achieve this RICS will be issuing a consultation paper and holding a number of stakeholder meetings to gather information, evidence and views.
Goodacre: 'By far the majority of RICS members and other professionals working in the property sector are open and transparent in all their business dealings. However, there is anecdotal evidence that suggests either that this might not always be the case, or that there are certain areas where there needs to be more openness.'
The group plans to carry out their investigations over the next 12 months and is looking to report on its findings by the end of 2009. Some of the issues that will be examined include declaration of insurance fees and commissions; service charges in leasehold property and valuation fees.
