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Propertymark will appear in front of the House of Lords’ Industry and Regulators Committee tomorrow morning, urging the regulation of lettings agents.
The committee has launched a short inquiry to examine the current approach to regulation of agents, and in particular will consider whether there should be a new regulator of property agents, as recommended by the report of the Regulation of Property Agents working group back in 2019.
Led by the chair, veteran Labour Baroness Taylor of Bolton, the committee will hear from Timothy Douglas, Head of Policy and Campaigns at Propertymark.
He says: “Propertymark has long campaigned for the regulation of property agents and is pleased that the House of Lords Industry and Regulators Committee is looking at this important issue. There are regulatory models for agents already in existence across parts of the UK so it’s important that we learn the lessons from implementation and how they can help shape future reform and policy making in this area.
“This is particularly important in light of legislative proposals from the UK Government to reform the leasehold system and renting in England with property agents playing a key role in supporting, guiding and providing information to consumers. Propertymark remains committed to ensuring any new legislation is workable for the sector as a whole.”
Separately, Propertymark has linked the regulation of agents with the Renters Reform Bill.
Douglas says: “The Bill offers a huge opportunity to reform the private rented sector in England. However, as with all legislation there are unintended consequences.
“For the Bill to succeed for tenants, landlords and property agents it needs to be strengthened in a number of areas. Allowing fixed term tenancies will give tenants more choice and security. Further clarity is needed on the role of new redress requirements for landlords as this is crucial to the effectiveness of any overhaul.
“The regulation of property agents must be included in the legislation and the court system must have capacity to bolster the confidence of landlords and property agents in an evidence-based possession process following the abolition of Section 21. Unless there is provision for all stakeholders the changes will not overall improve renting for tenants.”
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Can’t think why propertymark would want this, oh hang on because they can make a load of money from it 🙄
For goodness sake Property mark, start acting for your members, not your own pockets! Fight the crazy RRB especially periodic tenancies and strengthening Ground 8.
Douglas says: “The Bill offers a huge opportunity to reform the private rented sector in England. However, as with all legislation there are unintended consequences"
I shudder to think what the unintended consequences of a property qualifications membership group insisting on yet more regulation of agents could be.
There are numerous other associations that genuinely prioritise their members' interests. PropertyMark seems to be striving to emulate Rightmove, but there are far superior alternatives available.
Just what we need, MORE regulation. 🤬
I have written a rung to speak to Timothy Douglas numerous times , without reply , he is like a racing car with his foot down on the pedal trying to force thru more Regulation & Exams for a already over regulated Industry !
We are being constantly reminded and almost persecuted by our industry bodies that ROPA is round the corner and if we don't prepare and fall in line with the new regime, we will be forced to shut down our businesses because not having Level 3 or level 4 Certification.
ROPA is mainly a money-making scheme for Propertymark and the companies that have a vested interest in the expensive courses.
There is a possibility of the introduction of a Licence Fee, another hidden Tax!
Propertymark have never asked members to my knowledge if we wish to see the implementation of Ropa.
The industry is currently policed by the Property Ombudsman schemes, whom do an excellent job in rooting out bad practice within the industry. They implement heavy fines for wrongdoing and have the power to expel agents for bad practice.
Propertymark constantly provide updates of regulatory requirements & there is also a Legal Helpline if support is needed, without having to put members through arduous studying or exams.
Please tell me what qualifications an MP must hold such a privileged position ……None that I know of.
I feel that they are trying to overregulate the smaller independent members to force them out the industry, and allow bigger players to swallow them up, which is currently happening.
The only damage being done to the property market is by the MPs in the Houses of Parliament, they have created the situation of the shortage of homes and the difficulty for first time buyers to buy their first home.
Rents continue to soar as the landlords are leaving the industry in their droves because of too much regulation to rent out their property.
I suggest the two main parties bang their heads together start realising that they are the problem and not people within the industry and whom they seem to want to punish all the time.
I feel I have been wasting my hard-earned money being a Member of Propertymark whom I joined and are supposed to represent all agents big or small, and I still kept my Membership.
It would seem that those who keep banging the regulation drum do not speak for the industry. At least according to the sentiment here and almost every other forum where agents are allowed to share a view.
Yep PropertyMark in it for themselves.
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