Setting out basic rules for member agents of both organisations, the new charter will allow the public to buy or sell overseas property with confidence, knowing that their affairs will be handled ethically and professionally.
Ian Tonge, chairman of the NAEA International Division, commented: “NAEA members have always set the highest standards of conduct in UK estate agency. With overseas property an increasingly popular part of our members’ portfolios, this Common Code gives the public an easy way to find a high quality service that’s more than just fine words.”
Chairman of FOPDAC Adrian Medd added: “Given the explosion in popularity and the fact that people are making life-changing decisions involving large sums of hard-earned money, the very least they should be entitled to is a set of basic standards from those they place their trust in. This code sets those standards and gives the public a choice of literally hundreds of professionals who are committed to upholding them.”
As a further boost, subject to ratification at forthcoming meetings, both FIABCI (the International Real Estate Federation) with members in 70 countries worldwide and the CEI (Confédération Européenne de l'Immobilier) with members across 13 European countries will also sign up to the Common Code. This will create a massive worldwide network of independent specialists who deal ethically and professionally with every aspect of clients’ needs related to residential and commercial property abroad.
Ian Tonge commented: “This is a huge plus for those clients and investors seeking sound advice information and other services before buying property abroad. At the same time our aim is that those who give poor service, mislead clients, are negligent or reckless will either be forced to mend their ways or driven out of the industry.”
Members of the public are advised to look for the NAEA and FOPDAC logos on adverts, websites or at exhibitions, and always ask for proof of membership.
