The Property Redress Scheme says it’s recruited another 1,750 members following the shake-out last week when one of its rival redress services shut up shop.
On August 6 Ombudsman Services: Property completed its long-anticipated withdrawal from serving as a redress scheme for agents, leaving just the PRS and The Property Ombudsman as officially-approved schemes.
PRS says as a result of the shake-out it’s taken on new members from Savills, Knight Frank, Strutt and Parker, Winkworths and Chancellors as well as trade bodies.
A statement from the PRS says it saw “a huge rise in complaint notifications last year – as stated in the PRS Annual Report 2017 – and is continuing in its responsibility to the property sector to offer free and fair redress to consumers.”
Head of Redress at the PRS, Sean Hooker says: “We’re delighted to reach this milestone. We recently celebrated our fourth birthday as a scheme and getting to 9,000 members at this point was way beyond what we expected when we launched back in the summer of 2014.
“The withdrawal of OS:P may be an inconvenience for their members and risk them falling foul of the law; however, they can stay compliant immediately by registering with the PRS.”
Last week James Munro of NTSEAT issued a reminder that any agency trading without a redress scheme membership was acting illegally, and he told Estate Agent Today: “The National Trading Standards Estate Agency Team is working with local Trading Standards and housing teams along with the Ministry of Housing, Communities and Local Government to ensure that estate agents have switched to a valid redress scheme.”