“The NAEA welcomes the Government’s response to the OFT report into estate agency and its proposals to tighten up our industry.
“The plans for compulsory membership of an independent redress system – vital to protect the public throughout the home buying and selling process – are particularly welcomed. Our disciplinary procedures already provide protection for the public against members who breach our strict code of conduct and we are working to extend this protection to provide a complete independent redress system.
“The Government has understood the need for a recognised minimum standard for estate agents. The NAEA feels that its Technical Award scheme, which has proved hugely popular since its introduction last year, would represent the ideal benchmark.
“We fully agree with both the OFT and DTI that consumers deserve a better deal from estate agents which is why all NAEA members must adhere to our high standards. The proposals put forward in this report mark a significant step forward for the industry and a brighter future for homebuyers and sellers.”
