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Fri 25 October 2019
As agents we experience first hand, on a daily basis other agents’ bad practices. Ultimately it is the clients who suffer. Sadly as the industry is not regulated agents currently do not have to be qualified to operate and as such many agents do not have the knowledge and skill set to provide their clients with the information to make informed decisions.
Phipps & Pritchard have been around since 1848 and are long trusted for professionalism, knowledge of the market and with a diverse portfolio on offer can service all clients requirements.
Every client has a different set of needs, when I sit with clients I listen to understand their circumstances and how we can assist them personally in their journey. What aspects can we cover for them for a smooth journey? Sadly, many clients come to us following a poor experience where agents have not understood their personal circumstances and the marketing route chosen has not been correct. Not all agents have the interest of the client at the forefront. What a client deems to be a cheaper option can often be far from this!
Propertymark has long called for Government regulation to ensure everyone in the industry is licensed.
ROPA The working group has proposed a new regulatory framework to cover estate agents in the UK and letting and managing agents in England only. It is important to note that the private rented sector is a devolved issue and that the Welsh and Scottish Governments have already introduced legislation to regulate letting agents. The working group's announcement is good news for raising professional standards in the industry. The focus is to get all practicing agents on the path to qualification and comply with the regulations. Register for regular updates on the recommendations in an easy to understand framework.
Mark Hayward, Chief Executive NAEA Propertymark and David Cox, Chief Executive ARLA Propertymark comment on the final report from the Regulation of Property Agents (ROPA) Working Group:
'This is a significant moment for those in the property industry and a huge leap forward in stamping out bad practice. We have long called for Government intervention to ensure everyone in the industry is licensed, adheres to a strict code of practice and holds at least a Level 3 qualification (A-level). Following the extensive considerations by the working group, it is now for Government to create the structures for a properly regulated industry, whose professional knowledge and skills are trusted and respected by all.
'These are substantial changes which will require agents to start making preparations now to ensure that they are well placed for when these proposed qualification requirements are introduced. While we anticipate that the need for property qualifications will be phased in, we advise agents to get ahead of the competition and to stand out by adopting the new requirements early. Propertymark can support you and your organisation both with getting qualified and preparing for regulation.'
This will enable professionalisation of the sector and the ability to stamp out bad practice.
Zoe Herbert - Partner (Kidderminster Office - 01562 822244)
Please view the video below sent to member estate agents, created by Mark Hayward, Chief Executive NAEA Propertymark and David Cox Chief Executive, ARLA Propertymark on the day that Government recently announced the proposed changes.