The Labour Party is being urged to take the lead on estate agency regulation and help driving up standards in the sector.
It comes as Labour’s Shadow Deputy Prime Minister and Levelling Up, Housing and Communities Secretary Angela Rayner started the party’s conference by outline its property-related policies.
She said Labour will “achieve rental reform where the Tories have failed for four and a half years” by banning ‘no fault’ evictions and will give first-time buyers ‘first dibs’ on new developments in their communities.
Rayner also promised a mortgage guarantee scheme and said the party would end “the mediaeval leasehold system”, with root and branch reforms, while also committing to planning reform to build more homes.
Agency trade body Propertymark backed the proposals but has called for the party to go further.
Propertymark issued a plea for Labour to engage with the sector and understand the concerns from property agents, which include: regulating property agents through qualifications, a statutory code of practice, pass a fit and proper person test and membership of a professional body.
It said any new energy efficiency targets for housing should be realistic and not one size fits all.
Any targets should be complimented with grants, loans, and funding to incentivise landlords and homeowners to act, Propertymark said.
The trade body also urged Labour to commit to improving the home buying and selling process by supporting agents and the sectors work on enhancing upfront information.
Nathan Emerson, chief executive of Propertymark, said: “Labour has an opportunity to lead on agent regulation and drive-up standards for consumers.
“The current Government at Westminster has said that all property managers in the social rented sector should be qualified, so we urge Labour to join our calls and extend these requirements to letting agents, estate agents and managing agents – this will ensure a higher level of consumer protection wherever consumers rent or buy a home, improve the everyday economy and empower communities up and down the country.”
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Is this before they Bankrupt the county?
Propertymark , another group lobbying to get themselves mandatory that few want or need. More red tape, more costs.. go find something else to do.
Incentives for landlords? Pigs refuelled and ready to fly!
I can't say I've come across any agents who are in favour of this idea. It appears that Propertymark is the driving force behind it, probably looking to cash in. I'm not sure what agents will gain from regulating an industry that doesn't provide professional advice, offer sale contracts or handle client funds. The primary role of an estate agent is to sell properties (a product). What additional accountability could a trading license offer that isn't already covered by the Estate Agents Act and the Property Ombudsman? Are we going to start regulating car salespeople next? The truth is, there will always be dishonest estate agents, regardless of regulation.
Nausiatingly self serving.
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