Propertymark has welcomed Minister of State for Housing and Planning Matthew Pennycook’s commitment to implement the regulation of property agents.
During a question-and-answer session in the House of Commons yesterday (Monday 28th October), Pennycook said: “[The] Government is committed to ensuring that those living in the rented and leasehold sectors are protected from abuse and poor service at the hands of unscrupulous property agents.”
He promised that in light of this, the Government would soon set out its position on the regulation of letting, management and estate agents.
Nathan Emerson, CEO of Propertymark, said: “Propertymark welcomes Matthew Pennycook’s commitment to improving standards across the whole of the industry, something we have long campaigned for through the regulation of property agents.
“With so many new laws being introduced and with the Renters’ Right Bill on the horizon, it is vital that consumers are guided through the house buying and rental processes by qualified property agents who are knowledgeable about the latest legislative changes to the housing market.
“We know that across the country, qualifications have a positive impact on an agents professional capabilities with 87% of letting agents in Scotland reporting so.
“Propertymark members are already operating to these higher standards and by extended these practices across the whole of the sector through regulation, it offers the potential to professionalise the industry, stamp out bad practice, create transparency and give consumers more control over who manages their property.
“Propertymark looks forward to continuing to work with the UK Government in bringing this to fruition and seeing the timetable set out for its implementation.”
