The Government has confirmed it will crack down on unregulated estate agents, in an attempt to protect the general public. They found that well over half of all agents were not members of professional bodies and did not subscribe to complaints schemes.
After they found evidence of bribery and price fixing, an independent ombudsman will be created and all agents will be required to sign up to it.
Our view
The general ethics of estate agents has been in question for years and it is about time that the Government took action.
As with every industry, the bad ones make it harder for the good and we are sure that all above-board and ethical estate agents will welcome this move by the Government.
Adding regulation to an industry with a very bad reputation will give the consumer confidence and should boost the industry.