This announcement brings fresh momentum for reform and professional qualifications following the change of UK Government and a six-year wait since the release of the Regulation of Property Agents (RoPA) report. You can find the announcements and the consultations linked below.
The UK Government acknowledge the need for a radical overhaul, including digitisation and connectivity across the process, referencing the Scottish home buying and selling system, where upfront surveys underpin a lower fall-through rate.
Propertymark’s position
Propertymark is emphasising the importance of meaningful input from sector stakeholders to achieve the UK Government’s goals. The territorial extent of any future reforms across the UK will depend on the outcomes of consultations and subsequent legislation. Housing and conveyancing systems work differently across the UK, with a distinct framework in Scotland.
We are urging the UK Government to set out a clear timetable so that the consumer experience aligns with the promised reforms. Propertymark believes that mandatory regulation is vital to rebuilding trust and confidence in the market, issues that continue to constrain housing supply.
Focus on professional standards
The consultations focus on the need for clarity on service standards through a common Code of Practice, mandatory qualifications for estate and letting agents, and strengthened consumer protection and redress mechanisms.
Proposals include the introduction of digital property logbooks, ID verification, and standardised data sharing, delivered initially via local authority pilots.
Propertymark has consistently called for coherent, overarching regulation and clearer standards for professional agents, together with properly resourced enforcement to drive out unprofessional practice and ensure a fair, level playing field across the sector.
The future of home buying and selling
Propertymark’s position paper comes off the back of the renewed efforts to improve the home buying and selling process. In this paper, we have presented the agents’ perspective to ensure that future regulations reflect the evidence our members are seeing on the ground and that future actions respond to the largest challenges affecting the process.
Five pillars for reform
To tackle the long-standing challenges in the home buying and selling process, the UK Government propose a comprehensive set of strategic reforms focused on five key pillars:
- Digitisation
- Upfront information for buyers
- Professional standards and consumer redress
- Consumer education and transparency
- Market innovation
Government seeks views on Material Information guidance
Through its focus on Material Information, the UK Government is seeking views on how guidance can best support estate agents in meeting their legal responsibilities to provide potential buyers with key information, while also helping consumers better understand both their own responsibilities and what they should expect from property professionals.
Have your say
Both consultations will run for 12 weeks and Propertymark members can input personally to the consultations as well as provide feedback to support our response by attending one of our virtual roundtables.
Alternatively you can send feedback to the Policy and Campaigns Team who are co-ordinating this work via [email protected]
