The Government is to be told to introduce regulation right across the agency sector. It will mean minimum qualifications and licences.
Lord Best, chair of the working group on the regulation of property agents (ROPA), revealed that his group’s report will be delivered to the Government on Monday.
The group, whose remit includes both letting and sales agents, is backing the introduction of minimum qualifications that all individual agents will require in order to obtain a licence to operate.
He said there would be no grandfathering – so everyone will need to complete the qualifications, regardless of their experience or time in the industry.
Speaking at today’s TPO’s conference, he said: “We are going to say yes to a regulator, you are going to be regulated.
“You will become regulated bodies and licensed agents as individuals
“You will need to be licensed and it will be a serious offence to operate without a licence.”
He admitted it could mean agencies close but said it would create a better industry.
Agents will have to complete continuing professional development and follow a code of conduct.
A spokesperson for the Ministry of Housing (MHCLG) said late last night: “We have been clear that standards across the property agent sector must be raised, and we look forward to hearing the recommendations of the working group’s report on this important issue.”