Property Agents: Regulation

Lord Harris of Haringey Excerpts

Thursday 18th April 2024 Lords Chamber

[Baroness Swinburne (Con)]

The Government welcome the work undertaken by the independent steering group chaired by the noble Baroness, Lady Hayter of Kentish Town, on the codes of practice for property agents. That is an important development towards making sure all consumers are treated fairly and all agents work to the same high standards. The Government have approved two codes for managing agents, which set out good practice and are to be taken into account in cases before courts or the tribunal. We will consider other codes as they are brought forward.

[Lord Harris of Haringey (Lab)]

My Lords, I declare a former interest in that I used to chair National Trading Standards. The Minister will be aware that the department already funds an estate agents and letting agents regulator through National Trading Standards. Would it not make sense to extend the remit of that regulatory function carried out by Trading Standards into this field? That could presumably be done fairly simply, fairly easily and possibly fairly cheaply.

[Baroness Swinburne (Con)]

Estate agents are regulated under the Estate Agents Act 1979, which is currently enforced by the National Trading Standards estate and letting agency team—the abbreviation or acronym is too complicated for me to work out, so I have given the full title. It has powers to issue warnings and banning orders, and estate agents are required to belong to an approved redress scheme. These things can all be improved on. When we bring forward the home buyers and sellers reform strategy over the coming months, I hope to come back to the House and give details on further actions.