Symonds & Sampson welcome the government proposals for far-reaching changes to the way estate and letting agents are regulated, trained and licensed.
The proposals have come from the Regulation of Property Agents working party, set up last year by the Ministry of Housing Communities and Local Government (MHCLG).
Although the statement from the working party consists only of proposals, it is understood that they have already been signed off by the MHCLG and are likely to form the basis of legislation in the near future.
The key recommendations are:
Mark Lewis, head of agency at Symonds & Sampson, agrees that it is time that the government made changes. “We are members of The Royal Institute of Chartered Surveyors (RICS), and nearly all staff working in agency are qualified members of the National Association of Estate Agents (MNAEA), the Association of Residential Letting Agents (ARLA) and the National Association of Valuers and Auctioneers (NAVA) and we are, therefore, very strictly regulated already. Every member of staff also has to complete a number of hours on professional development (CPD) which is crucial for keeping up with present legislation.
Many of our competitors, however, do not adhere to such high standards and a few members of the public wrongly assume that all estate agents are the same.
This new legislation, which may take two years to become law, will stop sharp practice from anyone advising the public about property and give buyers, sellers, landlords and tenants great comfort.