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Regulation of agents: government still pondering next steps

There’s been only a vague government response to the recommendations for an estate and lettings agency regulator.

Last month the Regulation of Property Agents working group - set up by the Ministry of Housing, Communities and Local Government and chaired by Lord Best - concluded several months of deliberations on the future regulation of the agency sector.

It had 12 meetings and considered evidence from over 100 organisations, and it eventually called for a new independent regulator to lead a new public body to oversee a new regulatory regime for property agents.

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It also advocated that the regulator be responsible for an overarching statutory code of practice, with different parts binding on agents depending on their area of work; there would also be qualification requirements for agents, depending on their roles.

But these recommendations were concluded and put to government just a few days before the election of Boris Johnson as Tory leader and then Prime Minister; agreement to publish the recommendations came from former housing minister Heather Wheeler just a few days before she left office in Johnson’s reshuffle.

 

 

 

This has left some industry observers wondering what will become of the report’s findings. Now - in a summer newsletter produced by the MHCLG - the official response has come out.

It says: “The Government will consider the report’s findings carefully and outline next steps in due course.”

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