REGULATION OF ESTATE AGENTS

That this House recognises that buying a house is usually the single biggest transaction a person or family will ever make; notes recent research by Halifax Estate Agents which found that six in 10 people think that there should be a compulsory licensing scheme for estate agents to ensure that high quality standards are met; is concerned that the Consumers, Estate Agents and Redress Bill will not make licensing for estate agents compulsory; is further concerned that whilst nearly 80 per cent. of people believe that there should be a standard format for important information when dealing with estate agents, the Bill makes no provision for this; welcomes the move by Halifax Estate Agents voluntarily to introduce new style summary boxes on agency agreements which will show information including such as cancellation terms, fees and agreement type; and calls on the Government to bring forward proposals for a compulsory licensing scheme for all estate agents in consultation with the National Association of Estate Agents and the Royal Institute of Chartered Surveyors and a summary box on all agency agreements.