Consumers' Association Calls for Estate Agent Licensing
Licensing necessary to curb high charges and dubious practices
30th April 2004
Estate agents earn a total of £4billion in fees every year, but there is widespread doubt among the public about their trustworthiness and business practices.
Following a report by the Office of Fair Trading which recommended increased self regulation, the Consumers' Association has called for mandatory licensing in order to root out the rogue agents who are giving the industry such a bad name. The proposed licensing would be combined with an ombudsman scheme to replace the voluntary codes of practice in place today.
Both the National Association of Estate Agents and the Council of Mortgage Lenders have added to the call for stricter regulation of estate agents, saying that minimum standards of professionalism and trustworthiness are vital.
Read More: BBC
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