Propertymark reiterates call for appropriate regulation of estate agents

Propertymark has written to the housing secretary Michael Gove to reiterate its longstanding call for regulation of property agents and outline how this can support the delivery of the UK Government’s reforms.

Upcoming progress on both the Renters (Reform) Bill and the newly announced Leasehold and Freehold Reform Bill present ideal opportunities to legislate for the highest standards of practice in the sector, which will benefit both agents and consumers.

In February 2023, Gove stated that all property managers in the social rented sector should be qualified, and we urge him to extend this requirement to lettings, sales and managing agents in the private housing sector. At the Labour Party Conference in October 2023, Matthew Pennycook, MP, stated that if in government his party would introduce regulation as recommended by Lord Best in his 2019 report.

Timothy Douglas, head of policy and campaigns at Propertymark, will again re-state the case for action when he gives evidence to the RentersRenters (Reform) Bill Committee tomorrow.

Propertymark argues that regulation offers huge potential to professionalise the sector. The organisation wants all property agents should be qualified to at least Level 3, carry out regular training, undertake at least 12 hours of Continuing Professional Development (CPD) per year, be members of a professional body and follow a code of practice.

Full mandatory government regulation of agents is the quickest and most effective method to eliminate unprofessional, unqualified, and unethical agents from the property sector.

 

x

Email the story to a friend



8 Comments

  1. Robert_May

    Many years ago, I dedicated myself to raising standards in property management and lettings. My aim was to prevent agents from using their clients’ money without permission. Back then, there were no strict rules, and continuous learning wasn’t required.

    After a few years, 80% of those who saw my system ended up purchasing it. The Law Society, RICS, ARLA, and NAEA members appreciated it because it helped them adhere to necessary regulations and codes of conduct. My system addressed gaps that rules and training alone couldn’t fix in the industry.

    Insisting on highly qualified agents and constant learning doesn’t always yield the best results. It’s more effective to support them without making it too challenging. When agents realize they might lose clients and money to better competitors, they strive to be more professional.

    Products like mine, which simplify and make compliance more affordable, are favoured by agents. It’s akin to providing them with a useful tool rather than just telling them what to do. When things are easier, more people are inclined to do the right things. Propertymark would benefit from a product like that rather than just rules, regulations and more training

    Report
    1. Realitycheck97

      L3 is hardly a benchmark beyond reach. It’s a GCSE, or an O level for older readers. Not much, considering people’s lives and assets are at risk. A basic level of competence is the least that tenants and landlords should expect. A CMP system hardly negates the need for competence. Systems fail and those with significant responsibilities need to have underlying competence to deal with the myriad happenings in a human facing service.

      Report
      1. RentBoy

        I think you will find that a level 3 is an A level not an O level although I am not saying thats enough.

        Report
        1. Realitycheck97

          Stand corrected, yes it’s an A level. And not a huge stretch for live-safety critical professional responsibilities, I agree.

          Report
          1. RentBoy

            I agree

            RentBoy FARLA (L4 = Foundation Degree)

            Report
  2. AcornsRNuts

    I wonder who Propertymark have in mind to run this?

    Report
  3. Woodentop

    Are we talking improving knowledge or keeping in check rouge behaviour. For the latter licensing does not work as that is a mind set, unless the licence is withdrawn. Bureaucracy often creates labour intensive paper exercise and unnecessary or mind watering expenses and is often the result with no enforcement until after the horse has bolted.

    There is and has been for decades a mountain of codes or practice, legislation and even licensing schemes. What makes you think this proposal will makes any changes in the bigger picture. If one looks at The Property Ombudsman key data, there is insignificant cause for alarm within the industries millions of transactions every year.

    The powers that be, can’t police existing behaviour, so this is just going to be another paper exercise if you think it will stop rogues?

    Report
  4. Shaun Adams

    I completely agree with more regulation. Recently as a Propertymark member I had a complete audit on my business for sales and lettings. I asked the auditor on the 2 hr zoom call if I needed to record the questions or take notes, he advised me I would get a copy of all the questions after to go through with my team and remain compliant on an ongoing basis. A week later I chased him up and he advised he was incorrect and could not give me the list. He basically couldn’t care less and to date Propertymark who have made noises to say they can help have brushed this under the carpet. Propertymark basically don’t want to help their paying members on compliance. Disgusting. Thinking of joining Propertymark? Don’t waste your money.

    Report
X

You must be logged in to report this comment!

Comments are closed.

Thank you for signing up to our newsletter, we have sent you an email asking you to confirm your subscription. Additionally if you would like to create a free EYE account which allows you to comment on news stories and manage your email subscriptions please enter a password below.