The National Association of Estate Agents (NAEA), Association of Residential Letting Agents (ARLA) and National Association of Valuers and Auctioneers (NAVA) have jointly relaunched themselves as Propertymark in a move designed to raise awareness about standards within the industry.
All three organisations have changed their names and added Propertymark to their logos as of today. A new website is live at: www.propertymark.co.uk.
Agents who qualify to be in the scheme and display the Propertymark Protected logo in their branch window must sign up to a range of regulatory, financial and insurance standards, the three organisations say.
This will include participation in a branded client money protection scheme, having properly and regularly trained staff regularly updated on legislative change and best practice, adhering to a code of practice, submitting independently audited accounts each year, being a member of a redress scheme and holding professional indemnity insurance.
At present customers don’t know where to go for advice or can’t be sure if they are dealing with a professional. We are changing this.”
Agents in most areas of the UK are already Propertymark Protected approved including in London Winkworth, Bairstowe Eves, Pedder, Gales, Cooper Giles, James Alexander, Galloways, Beresford International, Douglas & Gordon and Portico.
“Having a home is the most important issue for consumers and our members are there to protect and guide people with their property transactions,” said ARLA’s David Cox (pictured, left) and the NAEA’s Mark Hayward (right) in a joint statement.
“At present customers don’t know where to go for advice or can’t be sure if they are dealing with a professional. We are changing this. We will reach out to customers directly so they recognise Propertymark and understand that by using a Propertymark Protected agent they and their money are safe.
“Propertymark is a stamp of approval for consumers when they seek professional property expertise in buying, selling, renting, leasing, or valuing a property. It stands for protection for the consumer, and offers the highest standards and qualifications among property professionals.
“Propertymark Protected agents have opted for regulation in an unregulated sector, and provide reassurance for consumers as well as protection against rogue operators.”
There is a website where consumers can search for companies who are part of the Propertymark Protected scheme, as well as a separate site for staff and companies wanting to find out more about its qualifications for property professionals. Called Propertymark Qualifcations, it will be the new trading name of what used to be the NFoPP Awarding Body.