According to estate agents news, the Ombudsman for Estate Agents scheme have claimed that their scheme covers some 89 per cent of UK estate agencies .
Just one week remains until every residential estate agent in the country must have a redress in place for their clients. The chairman of the company that operates the OEA scheme, Bill McClintock, reportedly commented: "We now have 11,119 residential sales offices registered for redress."
He reportedly continued: "Official estimates vary as to the number of sales offices throughout the UK, but even the highest only sets the figure at 12,500. More realistically it is 12,000, giving us coverage of 92.6 per cent. However, the public should be aware that there are still residential sales estate agents who have yet to meet the requirements of the Consumers, estate agents, and Redress Act that all such businesses in the UK must belong to an approved redress scheme by October 1st - which is this coming Wednesday."
He reportedly concluded: "The legal definition of an estate agent also embraces those like buying agents, who find properties for a commission on clients' behalf. Basically, anyone acting as a paid intermediary in the buying or selling of residential property falls within the scope of the new law - and that includes solicitors who operate a separate estate agency company with its own premises."
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Ombudsman scheme covers 90 per cent of estate agents Fri, 26 Sep 2008
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