My mole in the RICS tells me that the TRVG did not like the comments made by the |Select Committee’s |Findings.
The have supposedly decided to do absolutely nothing of any consequence to their valuation system, this is totally unconfirmed, but has been sent to me from a number of sources. It will be a sad day if they do not address the problems generated, they may think the system is adequate but it’s misuse and abuse proves that the system does not work equally and fairly for both sides.
One learned surveyor was alleged to claim that it was “Greedy Pub Co’s” who were responsible for the misuse of the system which endorses the Select Committee Findings.
However the amount of leaks that came out of the TRVG meeting would appear to confirm that at least one if not two members are concerned about ignoring the Committees Findings and certainly the members of the RICS that I deal with think it would be very unwise for the RICS to alienate itself from the Select Committee or possibly the Competition Commission. The Competition Commission and a number of MP’s have been informed of this alleged information in order to try and steer the RICS back to an unbiased, fair and transparent valuation system.