Sunday, June 15, 2008

Better late than never!

Review calls for letting agents shake-up

"Property agents in the rental sector must be better regulated, a major housing report launched tomorrow will conclude. The Carsberg Review of Residential Property is expected to argue that the 1979 Estate Agents Act needs to be updated so that estate and letting agents require an entry-level qualification".

Posted by alan @ 01:48 PM (879 views)
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11 thoughts on “Better late than never!

  • whiteknight says:

    Transparency rather than regulation is the way forward.

    Let’s not pretend that people weren’t stampeding muppets in their pursuit of property.

    Let’s not pretend that each and every time before than ANY market after such a rise has fallen.

    People need not relax their vigilence and abort their common sense by believing that some central authority has stamped somebody with the appropriate credit rating or qualification.

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  • much more is required.. i don’t need a guy to give me a piece of paper to tell me he is a [email protected], waste of money… straight forward laws that favours the free movement of tenants, banning deposits. Maximum contract 1 month, thereafter rolling for tenant, 3 months notice for landlord to give. Job done.

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  • last_days_of_disco says:

    I am really sorry to say I am with the estate agents on this. Why do we need regulation here. This wasn’t the estate agents fault. They incurred our dislike because they were the sharp end of the bubble pushing our families out the homes they should have been in, but it wasn’t them, it was other owners who could always get a buyer who could get the cheap credit.

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  • Is regulation really a bad thing? I don’t like regulation much, but in my mind, some sort of licensing system will help keep the cowboys out – housing crash or not.

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  • montesquieu says:

    I’m about to move from one rented place (£250 admin fee with Haart, near Bristol to another (£800 admin fee charged by Romans Letting in Berkshire.). This £800 – along with the usual month in advance and six weeks’ deposit, taking the up-front payment to almost £5000) is a complete rip-off as far as I can see, offering almost nothing for the money (credit checking me, but how do I credit check the landlord to see if he’s not going to be reposessed in three months?).

    We could certainly benefit from something like a deposit protection scheme, but going down the regulation of everything route can only allow these leeches to sucker us with even higher charges.

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  • montesquieu says:

    Looking at this again … all it needs is one extra consonant for a great headling:

    ‘If Carlsberg made estate agents …’

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  • £800 admin fee!! You are being truly ripped off montesquieu. I’ve never paid more than £200 including credit checks and that’s in Central London.

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  • Bankers and brokers have qualifications, didn’t stop anything. Sentiment and easy money are the culprits.

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  • Gettinglikemymother says:

    Any chance of this EA entry-level qualificiation including basic spelling?
    No, I thought not.

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  • I agree with last_days_of_disco, I haven’t perceived any need for regulation. Letting agents charge enough as it is, regulating them will only increase costs. This is just another nanny state idea and another waste of taxpayers money on some quango called OfLet or whatever.

    I should probably reserve judgement until I’ve read the full report, that article was very sketchy on details….

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  • … but, if it’s all gone wrong, it can’t be Broon Darling and Co Ltd – we need legislation. Blame culture well alive. Cynical? me?

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