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Further Changes for Property Agents

The Regulation of Property Agents Working Group has published a Final Report, proposing changes to the way in which the section is regulated.

The Press Release accompanying the issue of the report highlights that the key recommendations made by the report are:

  • A model for an independent property-agent regulator, including how it will operate and how it will enforce compliance;
  • A single, mandatory and legally-enforceable Code of Practice for property agents;
  • A system of minimum entry requirements and continuing professional development for property agents; and
  • Clarifying processes and charges for leaseholders.

It is likely that this will ultimately impact on how client money held by property agents is regulated and monitored ~ HAT will continue to monitor developments in this area and ensure that, at the appropriate time, amendments are reflected in the HAT Property Agents Client Money Manual.