The RICS has called on the Government to stop turning a blind eye to what is going on in the property sector, and start by amending the Estate Agents Act so that it encompasses letting agents.
It said minimum standards should have to be met, to prevent just anyone setting up as an estate or letting agent.
In a hard-hitting statement, the RICS said that the whole issue of regulating UK agents – both sales and lettings – had been ‘danced around’ for too long.
The RICS said that the range of sector licensing schemes, awareness groups and ombudsmen “presents a complicated picture to consumers who want and deserve more effective and transparent regulation”.
The body wants the Government to introduce a single regulation proposition for the entire sector.
It said this should be aimed at preventing consumer harm and increasing consumer understanding, and should be understood by professionals and public alike.
David Dalby, RICS director of residential, said: “Enough is enough. The Government must no longer turn a blind eye to regulatory reform in the residential property sector.
“It must be removed from the ‘too difficult pile’ and dealt with immediately in order to create a level playing field within which all businesses can operate.
“As long as agents don’t have to legally meet any minimum professional standards before they start trading, the consumer is at significant risk. This must not be allowed to continue.”
Steven Gould, RICS director of regulation, said: “An easy first step for the Government would be a simple amendment to the 1979 Estate Agents Act, redefining the definition of estate agents to include letting agents.
“This needs to be followed up by action by trading standards officers to prosecute those agents not complying with the law.
“Property sales and lettings are too important to be left to those unwilling to demonstrate high professional and ethical standards.”
The RICS spoke out after Property Ombudsman Christopher Hamer called for much tighter controls of letting agents.
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Comments
Unqualified Gary? Some Agents are probably as qualified as you if not more but have simply given up on self serving Professional??? Bodies that do little for their members and effectively very little for the public.
Where does all the faffing around come from? Neither government nor the professional bodies actually have anyone qualified, competent and confident enough to grab hold of and reform an industry that is a healthy mix of entrepreneurs and conservative old school.
Everyone tells RICS to stop faffing around over actually making any sort of comment.
Their statements are less frequent than Halley's comet.
I don't believe it.
What happened - were they resuscitated? Not since Lazarus has their been such a turnaround.
And why now?
Where have they been?
Welcome back.
Regulation should be by TPO or similar
have a look at the comments section on this EAT article regarding a NFOPP board member- the board is the future of NFOPP -
http://www.estateagenttoday.co.uk/news_features/NFoPP-ddirectors-to-thrash-out-issues-surrounding-its-future
Great stuff RICS! Only 7% of your members practice as estate agents with half of those dealing with ivory towers and the other half dealing with pony paddocks in the sticks. But seriously, it's important to have support from all quarters on a topic which many of us have been lobbying on for decades. Don't expect this Government to take any action, though. We are still in a culture of less, not more regulation.
Richard Copus
RICS Challenge.
They demand lettings regulation - so try this.
Visit their website and find a reference to 'Lettings'
Good luck.
Something needs to be done!! The NAEA have introduced the licencing scheme which basically only applies to those already members, just to step them up which in my eyes is a bit pointless as some are still claiming one membered PPD as working in every office to gain licencing when that should be policed better. But nothing seems to be done about these unqualified agents and being an RICS, NAEA, & ARLA member myself, I’m a massive believer in professional qualification and have always worked for regulated firms. I’ve had dealings with un regulated firms in the past and if someone was to audit some of these micky mouse qualified estate agents they’d be shocked how bad some of them really area.
I believe the RICS represent a small minority of the RESIDENTIAL agency market.
The NAEA was formed in the 60's when they tried to exclude all others and monopolise the residential market. In my view they may not mean as much this time but you never know!
At last, they break their silence.....
Next week they will be calling for the repeal of the corn laws.
Nice one RICS - glad you are still with us.