Propertymark has written to the housing secretary Michael Gove to reiterate its longstanding call for regulation of property agents and outline how this can support the delivery of the UK Government’s reforms.
Upcoming progress on both the Renters (Reform) Bill and the newly announced Leasehold and Freehold Reform Bill present ideal opportunities to legislate for the highest standards of practice in the sector, which will benefit both agents and consumers.
In February 2023, Gove stated that all property managers in the social rented sector should be qualified, and we urge him to extend this requirement to lettings, sales and managing agents in the private housing sector. At the Labour Party Conference in October 2023, Matthew Pennycook, MP, stated that if in government his party would introduce regulation as recommended by Lord Best in his 2019 report.
Timothy Douglas, head of policy and campaigns at Propertymark, will again re-state the case for action when he gives evidence to the RentersRenters (Reform) Bill Committee tomorrow.
Propertymark argues that regulation offers huge potential to professionalise the sector. The organisation wants all property agents should be qualified to at least Level 3, carry out regular training, undertake at least 12 hours of Continuing Professional Development (CPD) per year, be members of a professional body and follow a code of practice.
Full mandatory government regulation of agents is the quickest and most effective method to eliminate unprofessional, unqualified, and unethical agents from the property sector.
