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Professionalisation of Estate Agents

Currently there is no requirement for estate agents to hold any specific qualifications in...

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Professionalisation of Estate Agents

20th June 2018

News : Residential Property

Currently there is no requirement for estate agents to hold any specific qualifications in their field. As a result it can be a daunting prospect when it comes to selling your home.

Changes for Estate Agents

The Government is now looking to change this by:-

  • introducing new measures by which a professional qualification must be held by all estate agents;
  • providing transparency in the fees they receive for referring work onto solicitors and other professionals;
  • refining parts of the conveyancing process to be more streamlined and clearer for all parties by:
    • cracking down on gazumping
    • reducing sales falling through via voluntary reservation agreements
    • requiring managing agents and freeholder to have an agreed timetable for providing leasehold sale information packs and set fees
    • settling a fixed timeline for Local Authority searches

What this means for you

Most estate agents will have relevant experience and knowledge already, but the idea behind ensuring that all estate agents hold a qualification is to ensure a minimum service level standard across the board. This, along with the other changes implemented, will hopefully result in a smoother and faster transaction for property sellers and buyers.

Moving house is one of the most stressful things you can do and having a good estate agent as well as an experienced conveyancing Solicitor will help greatly in reducing those stress levels for all parties concerned.

This is an exciting change which should benefit the property sector and conveyancing process to get you moved quicker.

For more information on the buying and selling of property and the changes which the government is looking to introduce, please visit the following websites:-

https://www.gov.uk/buy-sell-your-home

https://www.gov.uk/government/news/government-to-professionalise-the-estate-agent-market

If you are selling your property or moving up the property ladder and need a conveyancing solicitor, why not give our experienced team a call on 0800 389 7093. Alternatively you can visit our Residential Conveyancing services page here or complete this form for a call back.

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