RICS welcomes Colliers single fee on local investment transactions

Newsroom 20/12/2011 | 14:34

The Romanian subsidiary of the Royal Institution of Chartered Surveyors (RICS), which was recently established, says its members are bound not to take double fees from their clients and this has always been the policy for RICS. The statement comes in response to a recent announcement by local real estate brokerage firm Colliers, which said it was the first Romanian investment team to announce publicly they would only charge fees from a single side of the transaction.

“We are pleased that several members of Colliers have recently qualified as Members of the RICS,” said Jonathan Youens, FRICS, chairman of the board of RICS Romania.

“The announcement by Colliers that they are subscribing to the Rules of Conduct and ethics practiced by Chartered Surveyors worldwide is fantastic news and marks a new era for the property industry in Romania” said Jonathan Youens.

There are now 50 Romanian members of RICS of which five are Fellows. Additionally there are a further 40 who are either trainees or students.

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