Will TPO’s ‘codes of conduct’ be toast after industry reforms?
Ombudsman tells The Neg what will happen to its codes that govern estate agents when the new 'overarching principles' proposed by the Government go live.
The Property Ombudsman (TPO) has clarified what will happen to the regulation of estate agents once the Government implements its plan to reform the property sales sector, following the consultation due to finish at the end of the year.
TPO says its existing Codes of Conduct, which are used when it adjudicates complaints by members of the public against agents, will not be impacted by the Government’s plans to reform the way estate agents are regulated and trained.
Several readers have been in touch to enquire whether these codes will be superseded by Labour’s new ‘over arching code of practice’ mentioned within its ongoing consultation launched this week.
The consultation says: “We propose introducing a Code of Practice setting out the minimum standards expected of all residential property agents, including estate, letting, and managing agents.
“We will explore the most effective delivery options for maximising the impact of the Code but expect that National Trading Standards, the redress schemes, professional bodies and the courts would use it to drive up standards.
“Subject to consultation outcomes, we propose to legislate for mandatory qualifications when a suitable legislative vehicle is available and consider legislation to ensure compliance with the Code of Practice.”
Overarching code
But what code or codes is the Ministry of Housing, Communities and Local Government referring to? TPO has clarified to The Neg that “The Overarching Code that the consultation refers to was drafted by the Regulation of Property Agents (RoPA) Codes Steering, set up by TPO and RICS and chaired by Baroness Hayter.
“TPO is the technical author of the Overarching Code, which is principle based to enable it to apply to all types of property agents.
“This is different to TPO’s codes which provide practical best practice standards relevant to the sales and lettings services being provided by agents.
“As such, there will be little impact on TPO’s codes and the value they provide to TPO estate and letting agents in their day-to-day business activities.
