Labour WILL regulate estate agents says Shadow Minister
Propertymark welcomes Matthew Pennycook's commitment to introduce the RoPA regulations if Labour wins the General Election.
Labour will introduce regulation of estate agents after Propertymark secured a commitment from the shadow housing minister.
The trade body reports that Matthew Pennycook (main picture) told the Labour conference his party would implement the RoPA (Regulation of Property Agents) recommendations.
This followed Propertymark CEO Nathan Emerson’s calls for a future Labour Government to license estate agents and introduce a code of practice.
Code of practice
He said qualifications, a statutory code of practice, a fit and proper person test and membership of a professional body should be mandatory.
Regulating property agents is a key campaign and policy area for Propertymark and its members, which would introduce requirements for letting agents in England and for sales agents across the UK.
Following publication of the ROPA working group report in 2019, the current Conservative Government has continued to say the recommendations are being considered, but no formal response to the report has been forthcoming.
Surprised
Many politicians, local councillors and delegates at the recent party conferences were surprised to learn that currently there is no regulation in place, Propertymark says.
Timothy Douglas, head of policy and campaigns at Propertymark, says: “The UK Government and policy makers appreciate the need for qualifications for property managers in the social rented sector.
“It is now positive to hear Labour acknowledge that regulatory oversight and protections should be extended to all tenants and consumers regardless of the housing tenure they live in.”
Not regulated
Estate agents are the only part of the home buying and selling process that isn’t regulated, he says, and outside of Scotland and Wales there are no requirements for letting agents to be trained or qualified.
“Propertymark will continue to work across party to ensure these important reforms are implemented through legislation,” he says.
Regulation of Property Agents is alive and kicking… just
That’s a no vote then, not that I’d ever vote for the anyway.
More regulation is just what the property market needs as it slides ever into crises.
Great idea.
Who will regulate the regulators?