Submitted on Thursday 21st January 2016
Published on Sunday 24th January 2016
Current status: Closed
Closed: Sunday 24th July 2016
Signatures: 10
Require all estate agents to be licensed by an independent regulatory authority
There are many stories of prospective purchaser (and tenants where they are managing agents) receiving poor quality service at the hands of estate agents e.g. those who accept more than one offer on a property and effectively play one purchaser off against another for their own financial gain.
Any one can set themselves up as an estate agent. Estate agents can sign up to voluntary regulation and many do. Those who do not often leaver those who are dissatisfied with no legal recourse as the contractual relationship is often with another party e.g. estate agents and have no contractual relationship and arguably no duty of care to e.g. prospective purchasers. There is some limited statutory regulation for e.g. property misdescription but otherwise legal regulation is limited.
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