Redress and stronger regulation needed for agents

There’s still one part of the UK where agents enjoy almost unfettered freedom without legislation or redress - and this has to change.

That’s the view of Propertymark about the island of Jersey where it says that “alarmingly” there remains no specific legislation covering the activities and conduct of estate agents.

A Jersey government scrutiny report says that while 41 per cent of the island’s agents were already members of an approved Redress scheme, this should become mandatory.

The report makes further proposals including consultation on the introduction of estate agent-specific legislation and a recommendation that Jersey keeps pace with future estate agency regulation in the UK.

Propertymark - which contributed to the report - says it has long been concerned about low barriers of entry to allow estate agents to operate in Jersey and has engaged with authorities on the island to promote the need for higher standards in the profession.

Timothy Douglas, policy and campaigns chief at Propertymark, says: “It’s alarming that there remains no specific legislation covering the activities and conduct of estate agents in Jersey.

“Buyers and sellers are extremely vulnerable to bad practice and questionable standards from agents who do not voluntarily adhere to a Code of Practice or membership of a professional body such as Propertymark and the Jersey Estate Agents Association, or The Property Ombudsman.

“This review has shone a light on an important issue and crucially establish a clear need and appetite for regulation.

“We’re pleased to see the panel take on board our long-held concerns about the low barriers of entry that allow estate agents to operate, and importantly that they also agree that estate agents in Jersey should be required to belong to a government-approved redress scheme.

“There is still more to be done through the introduction of legislation and understanding the work of letting agents and how they can be included in the regulatory regime to instil full confidence throughout our sector.”