Propertymark is reviewing its disciplinary procedures as the government moves towards tighter regulation of estate and letting agents.
The trade body’s eight-member Regulatory Board has spent six months examining its existing case-handling and decision-making processes.
The review comes amid government plans for independent regulation of sales agents across the UK and letting agents in England.
The proposals also include licensing and mandatory qualifications.
Propertymark began its review before the latest government developments. However, the prospect of statutory regulation has increased its significance.
Disciplinary procedures under scrutiny
Melanie Carter chairs the board, which is assessing Propertymark’s regulatory framework and identifying areas for improvement.
Its work covers compliance, disciplinary procedures and decision-making.
The board includes specialists in professional regulation, consumer protection and the property industry.
Members have held senior positions at the Solicitors Regulation Authority, Chartered Trading Standards Institute and National Trading Standards.
Others have worked at Defra, the General Optical Council and the Institute and Faculty of Actuaries.
Propertymark says the aim is to strengthen independent oversight and bring its procedures into line with regulatory best practice.
Members to have a say
The review will also consider how regulation affects agencies of different sizes.
Propertymark plans to involve members in developing future rules, codes and guidance.
Meanwhile, the board’s oversight will complement the organisation’s existing audit programme, compliance support and professional education.
The aim is to identify problems earlier rather than focus solely on disciplinary action.
‘Good regulation should be seen as an opportunity’
Melanie Carter, chair of Propertymark’s Regulatory Board, said:
“Good regulation should be seen as an opportunity for the profession, not simply an additional obligation.”
She added that qualified and accountable agents could help strengthen consumer confidence.
“Our ambition is to ensure Propertymark’s regulatory arrangements are independent, credible and effective, providing meaningful protection for consumers while recognising and supporting the professionalism of members.”
The review comes as agents face potential changes to qualifications, licensing and regulatory oversight.
However, Propertymark has not announced a timetable for introducing revised procedures or detailed changes to its existing rules.
Propertymark recruits industry veterans to strengthen regulatory oversight
Melanie Carter, Chair, is a Partner and Head of Regulation at Stone King LLP and a leading specialist in professional discipline and regulatory governance. With more than 20 years’ experience as a Judge, alongside extensive work with professional regulators, she is recognised in the Legal 500 Hall of Fame for professional discipline.
She is joined by five fellow members bringing considerable expertise in regulation, governance and consumer protection:
Carol Westrop spent more than 20 years in senior positions at the Solicitors Regulation Authority, overseeing enforcement policy and professional standards. She continues to contribute to professional regulation through roles with the Royal Institute of British Architects and Royal College of Veterinary Surgeons.
Dr Samantha Peters brings extensive experience in corporate governance and professional regulation, including senior leadership as Chief Executive of the General Optical Council and British Society for Rheumatology. Her work focuses on effective governance, strategic leadership and fair, consistent regulation.
James Munro has spent nearly 40 years in trading standards and has led the regulation of estate agency work across the UK through the National Trading Standards Estate Agency team from 2014. A former national Chair of the Chartered Trading Standards Institute, he brings particularly valuable experience in consumer protection and accountability within the property sector.
Juliet Oliver is a former General Counsel and Deputy CEO of the Solicitors Regulation Authority. With 22 years’ experience spanning law, regulatory policy, governance and compliance, she now leads a consultancy advising on regulatory strategy.
Richard Thompson brings three decades of experience across regulation, governance, competition policy and consumer protection. He holds independent regulatory and adjudicatory roles with several organisations, including Defra, the Institute and Faculty of Actuaries and the Intellectual Property Regulation Board.
Alongside this independent regulatory expertise, two highly experienced property professionals ensure the Board benefits from a strong understanding of the sector and the realities members face:
Valerie Bannister, PPARLA has more than 40 years’ experience in the private rented sector and is currently Lettings Compliance Director for the LSL Franchisor Group. A former ARLA President and longstanding Propertymark representative, she brings extensive practical knowledge of lettings, compliance and professional standards.
Peter Speak, FRICS FNAEA FARLA has more than 50 years’ experience in estate agency and has held numerous senior positions representing both industry and consumer interests. Now Managing Director of a management consultancy, he brings a valuable perspective on the relationship between professional standards, consumer protection and the delivery of quality services.
