Regulation of Property Agents Working Group

Lord Flight Excerpts

Wednesday 20th October 2021 Lords Chamber

[Lord Greenhalgh (Con)]

My Lords, I am not able to go any further but I know that the final code is ready, and that is a springboard to action. I am looking forward to engaging with the noble Baroness in due course.

[Lord Flight (Con)]

I congratulate the noble Lord, Lord Best, and his working group on a most thorough report. In its 56 pages, it makes recommendations on a model for an independent property agent regulator, for a single mandatory and legally enforceable code of practice for property agents, and on clarifying processes and charges for leaseholders. Do the Government have any material criticisms of the report to date?

[Lord Greenhalgh (Con)]

My noble friend should note that the Government welcome the final report of the independent Regulation of Property Agents Working Group, chaired by the noble Lord, Lord Best. The Government have been clear about the need to raise professionalism and standards among property agents, which is why we tasked a group of experts from across industry, led by our highly experienced chair, to advise on the best way to secure this objective. The working group’s report and recommendations are an important development towards ensuring that all consumers are treated fairly and all agents work to the same high standards.