Propertymark has urged property agents to be ahead of the curve as pressure builds to enact regulation of property agents.
The organisation has qualifications for agents, while it appealed for more members.
Housing minister Michael Gove was told by the House of Lords Industry and Regulators Committee on 22 March that tenants, leaseholders, and others are being hindered by the UK government’s delay over implementing regulation.
The committee suggested creating a Memorandum of Understanding to be agreed between the new regulator, National Trading Standards, and the redress scheme to ensure a more collaborative approach.
Meanwhile it requested the UK government to legislate for statutory consumer representation, and appoint a single ombudsman for property agents.
Calls for regulating property agents have been prevalent since 2019, when Lord Best chaired a working group consisting of industry stakeholders that suggested all property agents should be licensed and adhere to a Code of Practice, and that they should hold at least a Level 3 qualification.
This is something Propertymark has long campaigned for along with other recommendations made by Lord Best’s Working Group, which include company directors and management agents possessing a Level 4 qualification or above and having a new regulator to oversee compliance.
Due to the private rented sector being devolved, Wales and Scotland already have legislation to regulate letting agents, but the Working Group for the Regulation of Property Agents’ fresh regulatory framework concentrates on estate agents in the UK and letting and managing agents in England.
Nathan Emerson, chief executive at Propertymark, said: “The pressure to enact regulation of property agents is building. By joining Propertymark, agents will be better placed for Lord Best’s recommendations.
“For property agents who have not joined a professional body yet, now is the time to consider membership as a priority to help stay ahead of what will be one of the biggest evolutions within the property sector of all time.”
Estate and letting agents can achieve certifications offered by Propertymark Qualifications that range from Level 3 qualifications in letting and property management, auctioneering, and more to support applications to Propertymark membership.
A brand-new Level 4 qualification that has been created for those who may want to increase their knowledge or take steps towards a leadership capacity in sales, lettings, commercial, and auction businesses.
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