Propertymark was part of the working group made up of industry stakeholders and chaired by Lord Best. We have long called for Government regulation to ensure everyone in the industry is licensed, adheres to a strict code of practice and holds (at least) a Level 3 qualification.

RoPA's proposed new regulatory framework is focused on estate agents in the UK and letting and managing agents in EnglandThe private rented sector is a devolved issue meaning the Welsh and Scottish Governments have already introduced legislation to regulate letting agents.

RoPA's report recommends that:

  1. All agencies operating a residential property business should be licensed and licensing should include a fit and proper person test for company directors
  2. All staff delivering ‘reserved activities’ employed within residential agency business should be licensed and adhere to a Code of Practice
  3. All staff delivering ‘reserved activities’ employed within residential agency business should hold a qualification at Level 3 or above
  4. All company directors and management agents should hold a qualification at Level 4 or above
  5. A new regulator be appointed to oversee compliance with an overarching Code of Practice

 

These are substantial changes which will require agents to start making preparations now to ensure that they are well placed for when these proposed qualification requirements are introduced. While we anticipate that the need for property qualifications will be phased in, we advise agents to get ahead of the competition and to stand out by adopting the new requirements early. Propertymark can support you and your organisation both with getting qualified and preparing for regulation.

Mark Hayward Chief Policy Advisor | NAEA Propertymark

This is a significant moment for those in the property industry and a huge leap forward in stamping out bad practice. We have long called for Government intervention to ensure everyone in the industry is licensed, adheres to a strict code of practice and holds at least a Level 3 qualification (A-level). Following the extensive considerations by the working group, it is now for Government to create the structures for a properly regulated industry, whose professional knowledge and skills are trusted and respected by all.

David Cox Former Chief Executive | ARLA Propertymark

Latest news

11 Nov 2021
Building consumer confidence within the lettings industry

A roundtable examined ways in which transparency can be improved within the private rented sector (PRS), with views presented by some of the industry’s leading voices looking at how working together can help stabilise the sector.