The alleged latest information on the latest decision by the TRVG (Trade Related Valuation Group) to not make any changes to their existing valuation policy, because they cannot see anything wrong with it, regardless of the Select Committees Findings raises interesting questions.
Are they concerned about legal action being taken against them by national companies if they change their policy?
Are they not concerned about the over renting and over valuing of most leased and tenanted pubs?
Are they not concerned about the failure rate within the industry of lessees and tenants and the hardship caused?
Are they not concerned about their professional integrity in not taking action to remedy an identified problem?
Are they being manipulated by a few members whose core income benefits from maintaining the status quo?
My advice which will not rate highly with the RICS, even though I was originally a member, is stand back and looks at the facts, you could be digging a big hole to bury yourselves, which I know a lot of my colleagues who are still members are not happy about.