Bradford & Bingley Estate Agents comment on OFT investigation

"The OFT Report proposes improvements in the transparency of pricing and levels of service provided by estate agents and should be welcomed by the industry.

"I do however feel the that the report could have gone further by introducing minimum service standards and licensing and stops short of full regulation. Enforcing a statutory code of conduct would help change the public perception of the estate agency business enabling it to be recognised as entirely professional and reputable industry. Like all professions, a small minority of rogue estate agents have damaged the

reputation of the vast majority of agencies that conduct themselves professionally. Any trustworthy and skilled agent will already practice to a high standard and should not be concerned by the recommendations of this report.

"The report suggests the need for more vigorous price competition in the estate agency market. There already exists fierce competition in many local markets."