17 Nov

Estate agent licence introduced to raise property market standards

Estate agent licence introduced to raise property market standards

An estate agent licence has been introduced to protect buyers and sellers and raise the standards of the property market.

The National Association of Estate Agents (NAEA) has launched the licence at the House of Commons, which will mean that at least one estate agent within each licensed branch will have qualifications in residential property sales.

It stated that at the moment there are no requirements for estate agents to be qualified, meaning people putting their properties for sale or trying to buy a house could be using ones that do not have a lot of experience in the industry.

Chief executive of the NAEA Peter Bolton King said: "Nobody would knowingly get into an unlicensed taxi. However, thousands of people are willing to entrust one of most important transactions of their life to people who are not qualified or experienced."

Housing minister Grant Shapps encouraged estate agents to sign up, saying that it will help provide positive results for the housing market.

Last week, the NAEA reported that during October 2010, sales made to first-time buyers rose from 20 per cent to 23 per cent, indicating that the property industry is already starting to show signs of improvement.ADNFCR-1222-ID-800241823-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.