Annual Report and Financial Statements for the Year Ended 31 December 2022

2021 was a year of laying the foundations and 2022 has been a year of implementation. The change delivered by the organisation could not have happened if we had not had the support and tremendous efforts of all our staff and our volunteer network and I would like to thank all those involved as we have all achieved this together, as One Propertymark.

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CEO’s Foreward

During the year much focus was placed on aligning the sales and lettings Regional Executive Network and saw recruitment into the additional positions that had been created, seeing our volunteer network grow to a healthy 80 plus people. These are important roles that assist our members in their local area.

We have had a successful start with our far-reaching consumer campaign to educate and inform the consumer on the benefits of using a Propertymark Protected agent in partnership with Phil Spencer and his consumer engagement platform Move IQ. So far we have achieved over 1million consumer interactions.

Propertymark Qualifications recognised exceptional learners across eight categories along with formal presentations to more than 100 learners at our biggest ever awards ceremony at the prestigious British Museum. And we held a very successful NAEA National Conference.

Keeping to our Business Strategy commitment to champion all our divisions however big or small, we launched the first ever NAVA and Commercial Market Reports which will provide valuable insight and learning from the Auction and Commercial sector of the industry and complement the existing sales and lettings reports.

A new members Facebook group and forum was introduced and is growing rapidly in numbers and increasing member engagement.

We have seen an extensive increase in our share of industry voice in terms of both trade and national press and media. The team have averaged 513 pieces of coverage per month, a 264% increase from previous year averages, with a peak of 964 in October and we are proud that we won the In-house Team of the Year Award at the Property Press Awards.

During the period we have also had significant success in raising our profile and changing Government’s thinking. The key areas of focus have been:

  1. Economic Crime
  2. Energy Efficiency
  3. Reforming the Private Rented Sector
  4. Reforming the Home Buying and Selling Process
  5. Regulating Property Agents

Our Policy and Campaigns team have built strong relationships, based on credibility and evidencebased arguments, with departments across the UK Government and administrations in Scotland, Wales and Northern Ireland.

Towards the end of 2022, Propertymark made preparations with Scottish Association of Landlords, to lodge a judicial review against the Scottish Government’s Cost of Living legislation which prevented landlords from raising rents and regaining possession. This unprecedented course of action which is ongoing, came about as a result of unparalleled legislative restrictions on landlords.

Over the period, we have delivered the new Level four multidiscipline qualification which has been well received by learners. A remote invigilation system and new CRM system was also delivered in February 2023 which now means learners have access to a seamless digital journey.

We have remained the leading industry provider of qualifications, with the organisation registering 4000 new candidates throughout 2022 and a further 200 apprentices registered for the Junior Estate Agent Standard end point assessment scheme during the year.

At the 2022 Annual General Meeting we adopted changes to our Corporate Governance Framework and Articles of Association which also led to a review and modernisation of our Conduct and Membership Rules. We simplified and aligned routes to membership across all of our divisions which included evolving Propertymark Inventories membership into an accreditation.

Following the review of our Compliance function, the team has undergone expansion and is now working under an even more robust Audit Framework, new risk model and data analysis processes. The additional resource has also led to us being able to provide a new service for members, ‘Calm About Compliance’ which was launched in Q4 2022.

Our Disciplinary Panel has been refreshed and we have established a new Fitness Panel to consider declarations in connection with ‘Fit and Proper’ person declarations. The introduction of a new Regulatory Board to follow in 2023.

Propertymark has engaged more openly with industry suppliers which has increased the number of relationships we have within the sector. The increased income generated through these additional partnerships is planned to provide members with free access to regional conferences throughout 2023.

The work I have highlighted could not have been delivered without our dedicated team of people who have not been immune to the current economic challenges and as such Propertymark awarded all its staff with a cost of living payment to support them through these hard economic times.

There is still much to do, and I too look forward to working with the new Chair to take the organisation to yet another level in the future.

Nathan Emerson
CEO, Propertymark

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