Propertymark to give evidence to Lords’ probe into property agent regulation – The Intermediary

Propertymark is set to appear in front of the House of Lords’ Industry and Regulators Committee this Tuesday, 5th March, as part of the Committee’s work looking at the regulation of property agents.

The Committee launched a short inquiry to examine the current approach to regulation of property agents in the residential sector, and consider whether there should be a new regulator of property agents, as recommended by the report of the Regulation of Property Agents working group in 2019.

Led by chair Baroness Taylor of Bolton, the committee will hold a number of evidence sessions to inform its work.

Timothy Douglas, head of policy and campaigns at Propertymark, said: “Propertymark has long campaigned for the regulation of property agents and is pleased that the House of Lords Industry and Regulators Committee is looking at this important issue.

“There are regulatory models for agents already in existence across parts of the UK so it’s important that we learn the lessons from implementation and how they can help shape future reform and policy making in this area.

“This is particularly important in light of legislative proposals from the UK Government to reform the leasehold system and renting in England with property agents playing a key role in supporting, guiding and providing information to consumers.

“Propertymark remains committed to ensuring any new legislation is workable for the sector as a whole.”