Estate agents in Jersey are to get the UK’s first taste of mandatory estate agency regulation as the island’s government looks at how to remove rogue and unqualified agents from its housing market.
While the English government continues to stall implementing the RoPA proposals, Jersey’s is set to be the first in the UK to bring in mandatory regulation of the sector, which would cover block managers as well as its sometimes more glamorous estate agencies.
Propertymark, whose members make up around 40% of the agents on the island, has been inputting into Jersey’s Economic and International Affairs Scrutiny Panel in-depth review of regulation.
This follows a report in 2018 that recommended the island require all estate agents are members of approved professional body and follow a code of conduct.
Propertymark has told the scrutiny panel that it’s worried some agents on the island lack the legal knowledge to do their jobs, and that some do not ensure prospective buyers have all the ‘material information’ supplied to them.
“The absence of a regulatory framework that requires agents to be a member of a professional body and adhere to a code of practice leaves consumers vulnerable to bad practice and questionable standards,” says Mark Hayward, Propertymark’s Chief Policy Advisor (pictured).
“This means there is no consistent, transparent route to redress for consumers when things go wrong, and agents are not held to account against the same standards.
“Regulation would level the playing field and encourage a more joined-up approach.”
Propertymark says it wants to see practising agents on the island complete appropriate training, be sufficiently qualified, and commit to continued professional development to practice.
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