A non-statutory code of practice for property agents is set to be published later this year, Propertymark has confirmed. As your local property experts, here is what it could mean for the industry and for you.
The code will set out minimum best practice standards for estate and letting agents, following close discussions between Propertymark and the Ministry for Housing, Communities and Local Government. It is not expected to apply to agents in Scotland, where a separate regulatory framework is already in place.
Alongside this, a formal consultation on mandatory qualifications for estate and letting agents in England, Wales and Northern Ireland is expected in 2027, again excluding Scotland.
Propertymark chief executive Nathan Emerson welcomed the news, noting that a code of practice and mandatory qualifications are changes the body has long campaigned for, and that agents do not need to wait for legislation to start raising their own standards.
The figures suggest the industry is already moving in this direction. Propertymark reports almost 3,500 new learners registered over the past year, 7,400 examinations completed and 1,500 learners achieving a recognised qualification, alongside growing public awareness of what a qualified property professional actually offers.
At Drivers & Norris, staying ahead of regulatory change and investing in professional standards has always been part of how we work. We will keep you updated as more detail on the code and the qualifications consultation emerges.
Source: Estate Agent Today
— Drivers & Norris