Industry-backed open letter calls for agency regulation

Propertymark and RICS are among industry bodies that have backed an open letter to the new Housing Secretary calling for the Government to regulate agents.

The letter to Angela Rayner calls for a meeting to discuss introducing Lord Best’s Regulation of Property Agents’ recommendations.

Lord Best’s 2019 report called for minimum standards and qualifications for agents.

The recommendations were accepted by the previous Government but never made it into law.

The letter, also signed by the British Property Federation, the Federation of Private Residents Association and The Property Institute said: “As you know, housing is a key part of our nation’s core infrastructure. Good housing improves lives, with better outcomes in physical and mental health, social cohesion, children’s education, crime rates and the wider economy. Whereas poor quality housing harms the economy, our health, social and education services and the sense of a just society."
 

The letter calls on the new Government to:
· Set standards for those working in the residential agency sector, through a Code of Practice;
· Introduce mandatory qualifications and competence standards; and
· Ensure individuals and firms raise service standards through the introduction of regulation of property agents to the above code of conduct and in line with the principles of better regulation.

The letter added: “This is consistent with the outcomes sought by Lord Best and his Working Group, whose report provides a considered framework ready to be translated into legislation. Professional bodies have long called for and we stand ready to deliver effective regulation in the sector.

“We would therefore welcome an early roundtable meeting with you to discuss the new Government’s proposals and your willingness to legislate which would have wide support – including from the opposition which, in government, declared it had only failed to act due to the lack of parliamentary time.”