RICS fee rise sparks social media backlash

Anger over the rise in RICS membership fees and the bonus awarded to its boss has sparked a social media backlash.

A discussion thread on LinkedIn started by Amsterdam-based RICS member Massimo Nistico complaining about RICS fee rises for 2012 attracted over 200 comments, which were overwhelmingly negative.

RICS members also took to LinkedIn, Twitter and Building’s website to complain about the organisation’s chief executive Sean Tompkins receiving a £98,700 bonus for his work in 2010-11, as revealed by Building last week.

The costs of being a surveyor have gone up out of all proportion in the last few years

RICS member

RICS increased its typical membership fee renewal by 4.6% this year to £476.

One RICS member posted on LinkedIn: “The costs of being a residential surveyor have gone up out of all proportion in the last few years, bearing no relationship to the significant fall in the economy and housing market.”

Another dubbed the body the “RICS Global Green Business Money Making Sausage Machine”, saying it was “impervious to the wishes of the ordinary members”.

But another member defended the membership fee levels: “I am a happy RICS member and for the level of service that RICS provides the fees are reasonable.”

RICS members also posted messages on Twitter and Building’s website claiming Tompkins’ bonus was “insensitive” during a global downturn in the economy.

RICS defended its membership fee rises and Tompkins’ bonus. A spokesperson said RICS member satisfaction survey found that 80% of respondents said being a member of RICS “enhances their career opportunities and earning potential”.

“According to our members, the RICS membership fee provides good value for money,” the spokesman said, adding that the increase was in line with inflation.
Tompkins’ overall remuneration level for 2010-11 (£308,700) was 15% less than his predecessor Louis Armstrong’s.

Peter Collis, RICS remuneration committee chairman, said Tompkins’ pay package was based on “achievement of financial and other results” and was “benchmarked against other similar roles - chief executive of a global professional organisation”.

“Within that grouping, the package for RICS’ CEO is by no means excessive. The full package, based on performance related pay, has been set by a remuneration committee, which I chair, consisting of senior members and independent participants,” he said.