Regulate property agents with sweeping reforms, says working group

20 Jul 2019

Property agencies should be regulated by a new independent property-agent regulator and made subject to a code of practice, an independent working group has said.

Solicitors and other lawyers should be required to report evidence of illegal behaviour on the part of property agents to the new regulator, it recommended.

The Regulation of Property Agents Working Group, chaired by Lord Best, was tasked in October 2018 with advising government on a new regulatory framework for property agents; and has considered options to drive up standards in the property agency sector.

This has led to far-reaching proposals for a new regulatory framework.

The working group agreed “a new approach” is needed and said &ldqu...

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