A scheme to process complaints made against estate agents will now commence in October, the Office of Fair Trading has announced. The scheme, which has been delayed, will require estate agents to be members of an approved free ombudsman service.
The ombudsman will then deal with complaints and order compensation . The need to formally regulate estate agents has been pressing for some time, and a planned start date in April had to be put back.
Estate agents are subject to numerous complaints, including inaccurate description of properties, and undue delays. Firms not part of ombudsman schemes were reportedly more likely to be complained about.
The new bill will be under the Consumers, Estate Agents and Redress Act 2007. The OFT chief executive, John Fingleton, reportedly commented: "House buyers and sellers will soon have access to a free, easily accessible and speedy estate agents redress scheme that will ensure independence, fairness and transparency."
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Estate agents complaints from October Fri, 20 Jun 2008
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