Editor's note: This brief was summarised by The Property AI Newsroom from a report by The Negotiator. Read the original article for full details.

Government Announces New Code of Practice and Qualifications for Estate Agents

A new code of practice for estate agents will be introduced later this year, as part of a major shake-up of the homebuying system. Mandatory qualifications for agents are also planned, with a consultation scheduled for next year.

The announcement follows recommendations made by Lord Best in 2019 regarding the Regulation of Property Agents (RoPA). The new code is intended to set out minimum standards for property agents and provide guidance to improve the quality of information in property listings. The government states that this is part of a “roadmap to fix the broken system.”

The code of practice aims to raise standards for estate agents and create consistency across the sector. The proposals for mandatory qualifications are designed to ensure agents are properly equipped to support efficient transactions and rebuild trust in the sector.

Timothy Douglas, Head of Policy and Campaigns at Propertymark, welcomed the government’s commitment to introducing a code of practice and consulting on mandatory qualifications. He noted that Propertymark has long supported minimum qualification requirements, as recommended by the RoPA review, to improve professionalism, competence, and trust in the sector.

Isobel Thomson, Chief Executive of Safeagent, commented on the experience of mandatory qualifications in Scotland and Wales, stating that professional agents have nothing to fear from such requirements in England. She added that the thought of taking a qualification is often more daunting than the actual process once started.

The introduction of these measures is expected to impact estate agents, letting agents, and those involved in property management across the UK, with further details to be outlined in the upcoming consultation.