NAEA welcomes regulation proposals

News Category: Legal

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The National Association of Estate Agents (NAEA) has backed a government report calling for greater regulation of UK estate agents and letting agents.

Professor Colin Jones wrote the Government Review of Regulation and Redress in the UK Housing Market report, which suggested a more structured approach, including a code of practice for agents to follow.

It comes after the Rugg Review in 2008 called for a greater focus in tackling rogue letting agents.

Peter Bolton King, chief executive of the NAEA, welcomed the latest report's suggestions.

"I would like to reassure all of the hardworking and reputable estate agents in the industry … that the NAEA will fight to ensure that any reform to the industry is effective," he added.

Mr King advised those active in the property market to ensure their agents are bound by reputable rules of conduct.

He also expressed his desire for a regulatory clampdown on "unqualified cowboys".

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