Regulation of estate and lettings agents may not be introduced for at least two years, the architect of the reforms has revealed.
Speaking yesterday at the Council of Licensed Conveyancers (CLC) annual conference, Lord Best, chair of the Regulation of Property Agents Working Group (ROPA), revealed there is no set timeline yet for the changes.
He said: “It will still take two years to work its way through as it requires legislation.
“There is a backlog due to Brexit.
“The creation of the new homes ombudsman is also ahead of us, which will also be a good stepping stone.”
Lord Best ruled out any ‘grandfathering’ for experienced agents and said individuals would require a level 3 style qualification while more senior directors would need level 4.
He said that if this forces those opposed to qualifications to retire, then it is a price worth paying.
The peer said landlords and developers would be exempt from qualification requirements and revealed that the Government had “drawn a line” at short-term lettings operators such as Airbnb being included.
He said: “The big missing chunk we are not regulating is private landlords.
“This means there will be regulation that covers the agents who look after the property but it will not reach landlords who do it themselves.
“We recommend the Government starts with agents and extends the role of regulator later.”