Leasehold Properties: Managing Agents

Lord Kirkhope of Harrogate Excerpts

Monday 17th July 2023 Lords Chamber

[Baroness Scott of Bybrook (Con)]

The noble Baroness is right. That is exactly why we are looking at a code of conduct, which will have teeth, and the role more widely of leaseholders when we look to the leasehold Bill that will come through.

[Lord Kirkhope of Harrogate (Con)]

My Lords, my noble friend refers to leasehold, but is it not correct that all the other professionals involved in residential property transactions—I declare an interest as a solicitor—are very tightly controlled indeed in respect of fees and their conduct, bearing in mind the extra responsibilities, such as sales and purchases, now placed on professionals? Why are we not more determined to ensure that estate agents are equally controlled?

[Baroness Scott of Bybrook (Con)]

My Lords, estate agents are regulated through the Estate Agents Act 1979. As I said, that is currently enforced through the National Trading Standards estate and letting agency team, which makes it very clear that estate agents are expected to exercise due diligence and check whether the information on anything they are selling is correct. The Government expect all property agents to ensure that customers are aware of anything to do with the property that they are negotiating on and to work within those trading standards rules and regulations.