Broad Street BID Visitor Surveys

The Royal Institute of Chartered Surveyors (RICS) is the leading source of land, property, construction and related environmental knowledge. In June 2007, RICS's new Rules of Conduct came into force, changing the way in which Member firms were regulated. Member firms holding clients' money now pay an annual regulatory review fee to cover the cost of RICS auditors reporting upon the status of their company accounts. This fee is based upon the number of Principals within the firm.

Research by Design Ltd has been commissioned by RICS to undertake a survey amongst 50% of its Member firms holding clients' money. There are two main survey objectives:

1) To establish whether the new regulatory regime is providing cost savings to
    Member firms.

2) To determine preferences towards an alternative regulatory review fee
    structure.

Research by Design Ltd recommended the research to be carried out using an on-line survey, due primarily to the cost effectiveness and relative speed offered by this methodology. A web survey is being conducted during the first three weeks of June 2008 and results will be fed back to RICS by the end of June.