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Consumer protection amidst political uncertainty

Monday 23 September 2019

As political uncertainty affects the property market, increasingly desperate sellers are heading to auction houses in the hope of a quick sale.

An article in The Sunday Times (Sunday, 22 September) outlined how to buy property at auction, with messages of what consumers need to know before entering an auction room. Outlining the benefits and why it’s better to use an agent who is a member of NAVA Propertymark.

NAVA Propertymark promotes professional standards by having members adhere to a Code of Conduct and membership rules, which ensures best practice, regulates standards and protects consumers.

Regulation of Property Agents (RoPA)

In July 2019, the Regulation of Property Agents (RoPA) Working Group recommended to the Government to regulate property agents, ensuring everyone in the industry is licensed, adheres to a strict code of practice and hold at least a Level 3 qualification.

Regulation is coming and with the collapse of Thomas Cook, that they were also protected and for a good reason, and it's no different for the property industry. Consumers want to be assured they are protected. So, all agents must start to get ready, making sure all their agents are qualified and following continued professional development.

Consumer advice

The article shows the benefits for anyone considering buying a property at an auction with full details of how it works, to finding a property and do’s and don’ts before, during and after the auction. Giving consumers the choice to buy and sell properties faster and at a price that is right for everyone.

Propertymark resources

Propertymark is the go-to organisation for any questions relating to property. We help protect and guide consumers in property transactions and all our property experts meet higher standards than the current law demands.

CONSUMER ADVICE

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