Estate agency giant Belvoir has been challenged on social media after a section of its website dedicated to the Regulation of Property Agents (RoPA) was shared on Twitter and criticised for suggesting it’s a ‘business opportunity’ for its franchisees.
This came on the same day that RICS and TPO revealed that the much talked about Code of Practice is now being written by a steering group ahead of a new regulator and mandatory agent qualifications.
The section of the Belvoir website says: “The new model proposed is for an independent property agent regulator which provides a system of license to practice and a single, mandatory and legally enforceable Code of Practice for property agents.
“Belvoir sees this as an enormous opportunity for its franchisees.”
“There will be many small independent agents who do not have the resources or desire to take qualifications to do a job they have carried out for many years and they are likely to either close their agency doors or sell, leaving further opportunities for the Belvoir Group to expand and grow through acquisition.
This was picked up by a Twitter user with over 11,000 followers who specialises in scrutinising claims made by firms across a wide range of industries.
He said: “Consumers almost never ask for “consumer protection” regulations.
“It’s always the industry itself asking for regulation because they know it lessens competition. Here is a UK real estate agent frankly admitting they want regulation to shut out the competition.”
A spokesperson for Belvoir said it was not able to comment at the moment on the social media debate about its claims, but said it had championed the regulation of agents for many years.