An unregulated sector
Whether buying, selling, renting or letting a home, customers don’t know where to go for advice and can’t be sure if they are dealing with a professional. Is their chosen estate agent qualified, is their money protected, how does government legislation affect their move, what are the legal requirements to letting a property?
Customers don’t know because there is no mandatory regulation to enforce estate agents to belong to a professional body.
Clarity of consumer protection – one voice for all
NFoPP, ARLA, NAEA, NAVA, ICBA and APIP – a multitude of property related professional bodies – but who knows what they mean?
Propertymark is a stamp of approval for consumers when they seek professional property expertise. It stands for protection for the consumer, and offers the highest standards and qualifications among property professionals. In the same way that ABTA and ATOL Protected status affords holidaymakers peace of mind – Propertymark is the single trusted name for the property industry.
Propertymark Protected agents have voluntarily opted for regulation in an unregulated sector, and provide reassurance for consumers as well as protection against rogue operators
What it means if you are buying or selling a property
- Integrity – NAEA Propertymark estate agents are experienced and trained professionals who abide by a nationally recognised Code of Practice.
- Complaints Procedure – ruling on complaints through independent ombudsman services and regulated by Propertymark.
- Peace of mind – they hold all the correct insurance and protection to give you peace of mind through your move.
- Compliant – registered with HMRC to ensure compliance with money laundering regulations.
- Advice and Guidance – member estate agents are fully up to date with industry developments so customers will be provided with the best possible service.
- Transparency – member estate agents join voluntarily – they have nothing to hide!
What it means if you are letting or renting a property
Landlords need a professional service and the confidence that their agent will manage their investment in their best interests.
Tenants need the reassurance that maintenance issues will be dealt with promptly and their tenancy will run smoothly.
ARLA Propertymark protected agents offer more:
- Your money is protected – backed by Propertymark Client Money Protection Scheme. Your money is held in a separate client account, which is independently inspected annually.
- Legislation – up to date with complex legislative changes and best practice
- Adhere to national recognised Code of Practice
- Experienced and trained professionals required to undertake regular training
- Membership of an independent redress scheme
- Professional Indemnity Insurance
Check that your letting agent is a professional by asking these questions:
- Which independent redress scheme do you belong to?
- Is a full list of your fees and charges freely available as required by law?
- Are you ARLA Propertymark Protected?
Phillips George is an NAEA Propertymark protected estate agent and an ARLA Propertymark protected letting agent – please contact us if you need any advice or guidance regarding your home move or rental property.