New Rules for Estate Agents
DTI proposes mandatory membership of ombudsman scheme for estate agents
23rd July 2004
The government has reacted to calls for licencing of estate agents by proposing mandatory membership of an ombudsman scheme. Currently, the scheme is voluntary, and only around 40% of estate agents are members.
If the proposals go ahead, any agent that doesn't join the scheme and abide by its code of practice could be banned from operating.
Also, estate agents will be required to keep a written record of all sales, and the actions taken during the sale, in order to provide a 'paper trail' should disputes arise.
Consumer groups have welcomed the move, although the National Association of Estate Agents still believe the proposals should go further, and a full licencing system be introduced.
Read More: Ombudsman for Estate Agents
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