An unknown number of agents appear to be trading illegally following the withdrawal of Ombudsman Services: Property from the sector at midnight on Monday.
A list of firms still thought not to have switched to another redress scheme has been supplied to the regulator, NTSEAT.
However, it is understood that the list is not straightforward and contains, for example, some RICS firms which may have been double-entered. Other firms may also have made the switch but not supplied the information, or have been listed by Ombudsman Services: Property but no longer be in business.
Yesterday, James Munro of NTSEAT told EYE: “The National Trading Standards Estate Agency Team is working with local Trading Standards and housing teams along with the Ministry of Housing, Communities and Local Government to ensure that estate agents have switched to a valid redress scheme.”
NTSEAT has previously said that it will go after agents not offering redress and who are therefore trading illegally.
A surprising number of agents were still listed as offering redress through Ombudsman Services: Property just 24 hours before its withdrawal.