Regulation of Property Agents: Working Group

The working group is tasked with advising government on a new regulatory framework for property agents.

The working group is chaired by Lord Best, who has been an independent crossbencher of the House of Lords since 2001. He has extensive experience from his years working across the housing sector.

Membership

The membership of the working group is:

  • Royal Institution of Chartered Surveyors (RICS)
  • Association of Residential Letting Agents (ARLA Propertymark)
  • National Association of Estate Agents (NAEA Propertymark)
  • National Trading Standards (NTS)
  • Professor Christopher Hodges, Oxford University
  • Institute of Residential Property Management (IRPM)
  • Leasehold Advisory Service (LEASE)
  • National Landlords Association (NLA)
  • Citizens Advice
  • Ombudsman Services

We have tasked the working group with developing:

  • advice to government on a model for an independent property agent regulator, including how it will operate and how it will enforce compliance

  • a single, mandatory and legally-enforceable Code of Practice for property agents;

  • a system of minimum entry requirements and continuing professional development for property agents

  • explore fees, charges and ability to choose a managing agent for leaseholders and freeholders

Regulation of property agents is a task which requires due care during implementation and development and many respondents to the call for evidence highlighted the need to allow time for agents to adapt to new requirements.

The working group will submit its final report in summer 2019 after which we will announce next steps.

Terms of reference

Regulation of Property Agents Working Group: terms of reference (PDF, 55KB, 2 pages)