The Government has this morning announced a new working group, which will report back next summer on regulating all agents right across the sector.
Its brief includes advising on regulation and mandatory minimum qualifications.
In its statement this morning, the Government said: “At the moment, anyone can operate as a property agent without any qualifications or professional oversight. Many take a professional approach and sign up to standards of practice through membership of a professional body, but others do not.
“The working group will consider the entire property agent sector to ensure any new framework, including any professional qualifications requirements, a Code of Practice, and a proposed independent regulator, is consistent across letting, managing and estate agents.”
Housing minister Heather Wheeler said: “For too long, many people have faced incurring fees and bad service from a number of property agents. People should have confidence when buying, selling or renting a home.”
The new Regulating Property Agents Working Group will be chaired by Lord Best, an independent cross bencher. Members will include Propertymark, the RICS, and Citizens Advice.
The group will focus on:
- a model for an independent property-agent regulator, including how it will operate and how it will enforce compliance
- a single, mandatory and legally-enforceable Code of Practice for letting and managing agents, and whether similar could be provided for estate agents
- a system of minimum entry requirements and continuing professional development for letting, managing and estate agents
- a standardised approach for presenting transparent service charges to leaseholders and freeholders
- an easier statutory-backed process for consumers to challenge unfair service charges
- whether other fees and charges which affect both leaseholders and freeholders are justified; should be capped or banned
- further measures to professionalise estate agency
- as well as additional matters which in its opinion support the aims above
Can we apply the same for the Gov? Many have faced incurring taxes for bad and non-existent services from Government.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
I think this is the smartest response I’ve ever read on PIE.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
If you’re a politician, particularly in government, you can change job roles literally overnight. No training required, but then again, you’re only running the country!
Bad agents, don’t survive, it’s as simple as that!
We work in one of the few industries where reputation, recommendation and trust are paramount in survival. Not all working to generic rules is what sets us apart.
Customers should have redress available to them if they feel they’ve wrongly treated, but to make us all exactly the same is not good for the customer, or the businesses where individual flare and customer service allows them to stand out.
Everyday more meddling by headline grabbing MP’s, all so they have something to tweet about!
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
today’s attack on the sector .. suppose they have to keep the campaign for generation rent voters going .. shelter can jump on this one and get behind it no doubt
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
In my experience dealing with Housing Ministers (4 of them) they would do well to sort themselves out first!
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
To use the terms from years ago when we listened to music on records. The Government have got themselves stuck in the groove! Grow up and move on.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Wasn’t it £65,000,000 lost by the government for the aborted garden bridge development in a London. Government incompetence! Who is policing this? Can’t afford Police, Education, Hospitals Etc but CAN afford to waste £65,000,000 with ZERO ACCOUNTABILITY. Maybe get their incompetent house in order first!
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Where Scotland leads, England will surely follow. Financial and investment advisers need to be regulated in order to practice. Letting agents are responsible for management of assets worth possibly hundreds of thousands of pounds to individual clients and it is simply untenable that anyone can set up in such a business without evidence of a comprehensive and up to date understanding of landlord/tenant law, professional indemnity insurance or protection for clients’ money. Mismanagement could cost clients significant sums or burden them with a criminal record. Agents are also responsible for providing safe and fit-for-purpose homes to tenants and for upholding tenants legitimate rights.
Regulation and relevant qualification are eminently sensible requirements.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Agreed. Nothing to fear for legit, professional firms. It’s just whether it actually gets enforced.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
“Minimum entry requirements and CPD” – about b***** time! Will put everyone on a level playing field.
I find it strange when some of us criticise having to pass a basic examination in order to be able to practice and to have to carry out basic, critical updates during the year when we are dealing with people’s most important asset – and in this country we are talking about a very valuable asset. I know there are things which regulation doesn’t prove, but it does prove a basic knowledge of property and property law (it’s amazing how many agents don’t understand the fundamentals of contract law and listed building restrictions) and will discourage those who’ve just walked out of a completely different job and know they can open up shop tomorrow to make a quick buck.
This was in Part II of the Estate Agents Act 1979. The bill was drafted by Labour. The new Tory Government decided not to get Royal Assent for Part II because they treated it as a restriction of competition. We all know where blanket deregulation took us and times have moved on.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Hooray but why are several of these comments negative when its about agents wanting to as well as being expected to offer a good service to their clients?
I just wish the remit would include changing the whole model for estate agents from being vendor-centric as at present to being a more buyer-centric service and thus become better able to offer a better quality service and value for money for the advice needing to be provided.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
As a surveyor you just made the point that although qualified you do not understand contract law (agency) and all of the established case law that supports it.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Peter, my old friend!
Those peskie estate agents at it again, servicing the clients that pay them…shocking.
Isn’t it amazing that there are now large public “estate agency” companies making money out of servicing neither vendor or buyer.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Good luck on setting up your new buyer-centric Estate Agency given that their “client” pays the fees…
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Is this just another way of forcing estate agents to pay an annual fee for belonging to an official body?? The framework already exists to monitor estate agency.
TPO, Trading Standards all there as forms of consumer protection and redress, they are just not utilised or enforced. More pandering from the government to those that shout loudest.
I am all for regulation, i have no issue with it…but it is already there and set up, they just arent blooming interested!
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
YES YES YES! to all the above and about time.
Interesting that TPO are not part of the discussions?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
“Interesting that TPO are not part of the discussions?”
There seem to be mixed messages from the Govt – are redress schemes going to be replaced by a statutory Ombudsman similar to Financial Services Ombudsman?
PIE hinted (in a story published July 18) that Propertymark would become a regulator for such a scheme.
This would mean NAEA/ARLA etc would have to be spun off – leaving Propertymark(C.Hamer) as a Regulatory Body for the industry replacing the role of NTSEAT/TSI ?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
When are we going to see the same applied to housing associations? Likewise when are we going to see the unhealthy relationship between these housing associations and local councils put under the microscope and scrutinised in the same way? These companies have become totally unfit for purpose and are allowed to let substandard, even highly dangerous properties with complete impunity. Quite clearly it is one set of rules for private landlords and another entirely for them…
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Start of the end.
See your running costs increase by 20k per annum.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Can the Government deal with this fact first:
For around 30 years sellers only paid on completion of the deal and 10,000s are now paying for failure and in many instances, two agency fees – How Is this progress?
How could they allow the disruption of the worlds fairest fee -No Sale, No charge, particularly, when this accumulated loss-leading new offering has been propped up by 10s of millions of other peoples money?
Accept that estate agency fees in the UK are already considerably better value than the vast majority of other similar developed countries and these countries Governments are not allowing PLC’s to squeeze the life out of many 1000s of small agencies or allowing possible anti-competitive practices as they understand that a ‘proper’, less stressful, compliant and full- service agency costs more money?
What has happened about PB’s disclosed huge recent AML breaches?
I do hope that high stamp duty charges (average 3% or £8,400) that are so much more than the average estate agency fee has nothing to do with their complacency?
Is it a scandal that they have allowed the likes of PB to get away with misleading marketing ploys (ASA) that infer this long-established ‘proper’ estate agency benefit?
Is a practically unreadable ‘payable regardless’ text as mitigation to the loss of this huge and perceived agency benefit in their national TV advertising really transparent?
If the Government would like to make an immediate impact should they ban upfront/deferred payment fees with financial consequences first?
If they can ban tenant fees why not ban failure fees which now cost so many users on average £1,100 plus all that stress?
That would be a good start?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Minimum standards of competence and knowledge has to be a good thing in the medium to long-term if implemented properly and run by people with integrity, honesty, intelligence and transparency.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Reading this is like watching turkeys voting for Christmas.
This is not going to benefit anybody apart from the individuals and companies regulating the industry. A license to print money.
RM will look like a drop in the ocean.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Funny how just anyone can be an MP though. Not only do they get paid to ‘represent’ us but can take up directorships and get paid extra money when they should be working for us. Yet banning one of our income streams is just fine.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Everyone dealing with any Property transaction should be regulated and qualified.
This should also include private landlords/sellers. Who will also need to sit tests and and follow a uyearly structured personal develeopment plan.
This way it’s cuts the non serious operators.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Why would you not want to be more knowledgeable and qualified.
Or do you know it all already?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register