RICS accused of ‘backtracking’ over promised member fees review

The Royal Institution of Chartered Surveyors (RICS) has been accused of backtracking on  a pledge to review fees to members before it issues invoices for 2023 – despite stating last November that the annual fee would be openly reviewed as part of a wider shakeup.

RICS interim chief executive Richard Collins made the fee pledge in response to Building magazine’s open letter to the institution highlighting members concerns.

Collins said back then that the RICS would look at fee levels in the context of the independent external review into the institution’s future purpose, governance and strategy.

SKY HIGH

The RICS has the second-highest fees of any professional membership body in the world. It currently charges annual fees of £593 for professional members and £658 for fellows.

The Institution has previously come under fire due to a lack of transparency explaining how its fees are calculated and how they are spent.”

The current review is only just underway and thought to be looking at whether or not the way fees are calculated is fair and will aim to simplify the current system.

Taking to Twitter, Richard Scarth (pictured), development and asset manager at the District of Columbia’s Office of the Deputy Mayor for planning and economic development, said: “Disappointing to learn this week that the #rics fees will not be reviewed before the 2023 invoices are issued – despite stating in Nv 21 that the annual fee would be openly reviewed as part of a wider shakeup.”

A RICS spokesperson says: “The process and structure of setting and agreeing subscription fees is to be reviewed to ensure that this is simpler, clearer and fairer for members at all stages of their career. The concept of ensuring value for money will be a key consideration in this process.”