NAEA – Estate Agent licensing is launched

A licence for estate agents has been introduced by the National Association of Estate Agents (NAEA) for the first time in a major push to raise standards in the industry.

The licence has been launched by the National Association of Estate Agents, who state that more must be done to protect consumers from unprofessional agents.

A licensed estate agency branch means consumers are guaranteed that at least one agent within that branch is qualified in residential property sales, either through a formal qualification or through length of service in the industry.

Currently, there is no restriction to anyone setting up and practising as an estate agent, whether they have industry experience or not. This new licence is not a legal requirement, which means that it is purely optional for an agency to join.

Therefore, while it is a positive step to have such a qualification available to the reputable agents who wish to substantiate their professionalism by obtaining the licence, it will fall on consumers to be educated that it is available and to choose whether this makes a difference in the agency they will choose to use for selling their home.

Many agencies, in these difficult times, may opt not to be licenced purely on a basis of cost. And the same applies for the rental market, where many letting agents are not members of any association (such as ARLA) which offers a code of conduct to adhere to in an effort to ensure there is a quality service to consumers.

Take a look at our blog for top tips on choosing an agent to sell your home.

About harveybowes
Mortgage Broker and founding Director of Harvey Bowes Limited. A mortgage broking practice with bases in Cardiff & Poole, UK. We take a fresh and positive approach to mortgage broking which pays dividends for both our clients and frankly, ourselves. The team at Harvey Bowes are expert advisors in all aspects of mortgages from residential to commercial and buy to let.

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