As an estate agent, I think regulation would help improve the market. Many people are sceptical of the whole house buying process and estate agents play a major part in this. Recent articles by Dan Raywood have highlighted the need for further moves to quell industry, and consumer unease about estate agents and I think that regulation is the only possible solution. A bigger consumer presence would be essential to its success, highlighting the changing conditions, but can only be a good thing for consumers.
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In recent weeks, Raywood seems to have made it his target area, estate agents, their current role in the market, and the problems caused by negligence and the fact that they are un-regulated. His articles prove just how much regulation is needed, and although there has been talk for the last decade or so for the need for such legislation, it seems that with a new government, this would be the ideal time to do it. The only thing that I can see stopping it is the amount of time the FSA, or other regulator, would have to devote to it. But if it can afford the time and money to set up regulation of travel agencies then surely it can see the benefits of introducing regulation to the tired practices used by many estate agents.
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As an estate agent who has been operating for over 10 years I know what goes on and the shady, underhand practices used by some to seal the deal. This needs to stop and anything that draws attention to these practices has to be welcomed.
