Gov announce revolutionary changes to regulate the estate and letting agency sector
Director of Benham and Reeves, Marc von Grundherr, commented:
“Any form of regulation is a step in the right direction and a step that the industry has been needing for a long, long time. Really, we would like to see this regulation stretch to all of those operating in the sector, whether they be a letting or estate agent, a property listing portal or a short-term letting site.
To date, a lack of licensing, a code of practice to adhere to, and the requirement of qualifications to actually operate as a property professional have resulted in a number of below-par agents dragging the good name of the industry down with them.
This clear show of intent from the government should help sort the wheat from the chaff, raising the operating standards of the industry and the service provided to tenants and home buyers and sellers across the nation.
Hopefully, it equates to more than just hot air and the assurances and enforcement measures mentioned in today’s statement will be upheld to the letter.”