The government has finally revealed plans to introduce a new body with the aim of raising agency standards. While politicians have talked about taking steps to improve standards, very little has been done up to this point. The new body is intended to help raise standards throughout the whole property sector for all parties – buyers, sellers, landlords, tenants and leaseholders.
Lord Best to Chair New Group
Lord Best will head up the new group intended to raise industry standards. According to the official Parliament UK website, Lord Best has been heavily involved in different aspects of housing for most of his career. After his appointment to the role, he said that better regulation of property agents was needed and that he was pleased to be able take a role that would involve working to improve the sector and make real progress. He added that he would talk to all types of stakeholders in the industry before making any decisions about new policies.
Other members of the group include industry experts and representatives from the Citizens Advice Bureau, the National Association of Estate Agents, the Royal Institute of Chartered Surveyors, the Association of Residential Letting Agents and the National Landlords Association. Representatives from all sectors of the residential housing sector have been included in order to ensure all groups and interests are represented.
Increasing Confidence in the Sector
Under the current system, any individual can set themselves up as a property agent, regardless of a lack of experience or qualifications. While many agents are dedicated professionals, signing up to industry standards via professional bodies, there have long been concerns about unscrupulous individuals operating without regulation. There are things tenants, buyers and anyone else entering the property market can look out for. For example, firms such as https://www.completepropertygroup.co.uk/ – who specialise in property management Cheltenham – are members of the Property Ombudsman, and there are other bodies that regulate and guide businesses and individuals.
The new body, however, is designed to collect a range of resources and guidelines under one umbrella and to make it easier for individuals and businesses to feel safe when dealing with property-related matters. Housing Minister Heather Wheeler says that people should be able to have confidence when they buy, sell or rent a property.