UK rolls out new Estate Agents Licence

Published 19th Nov 2010

Alongside traffic wardens and tax collectors, estate agents are high on the list of those some of us love to hate - so a new licence being introduced by the The National Association of Estate Agents, which aims to improve standards in the industry, will be welcomed by many...

The NAEA is rolling out the licence for the first time in a bid to better standards across all aspects of estate agency in branches all over the country.

Working under the assumption that 'more must be done to protect consumers from unprofessional agents,' the national estate agent body are keen to crack down on the unqualified and unscrupulous who practice as agents and give all other agents a bad name.

Currently, there are no rules against anyone setting up and practising as an estate agent, and this is something which needs to be worked on, says the NAEA.

Peter Bolton King, chief executive of the NAEA, said, "Nobody would knowingly get into an unlicensed taxi. However thousands of people are willing to entrust one of most important transactions of their life to people who are not qualified or experienced."

Under the new plans, those agencies with licences will be able to guarantee customers that at least one agent within that branch is qualified in residential property sales, either through a formal qualification or through length of service in the industry. This will make it easier for consumers to choose an agency based on experience and not just fast-talking sales guys.

Bolton-King added, "We would like all sellers and buyers to ask their prospective agents, ‘Do you have a licence?' If they don't, they should ask themselves whether that's the best place to market their property.

"From today estate agency in the UK is a two-tiered industry - those agents who are licensed and those who are not. I think the public will welcome the distinction and I believe that this move will raise standards across the industry," he added.

Whilst there is no legal requirement for estate agents to obtain the new licence, this may change in the near future.

Housing Minister Grant Shapps said, "For years I've been calling for better standards throughout this industry, so I'm delighted the NAEA are taking matters into their own hands and launching a licensing scheme that will ensure their members become known for their professionalism and integrity. I call on all estate agents to sign up and make sure they're not left behind when consumers vote with their feet."

"This is exactly the sort of measure the housing market needs - simple and sensible changes that are driven by industry and designed to deliver results. By ensuring they enjoy the trust of people buying and selling homes, estate agents will inject greater confidence and movement in the housing market. In future anyone looking to buy a home or sell theirs should ask the simple question of their estate agents - "are you licensed?" added Shapps.

Source: ' TMC '

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