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Queen's speech: More protection for homebuyers and sellers

Wednesday, 15 November 2006 12:00 AM

Homebuyers and sellers are to get more protection from rogue estate agents, the government announced in the Queen's speech today.

A new bill could see estate agents having to join a redress scheme, making it easier for consumers to get compensation if they have been misinformed or given a poor service.

The National Association of Estate Agents (NAEA) said it welcomed the move.

"This is clearly a step in the right direction. It is important for consumers to feel secure in the fact that they will receive some form of compensation if they are unfortunate enough to suffer at the hands of malpractice," said Charles Smailes, president of the NAEA.

However, he added more needed to be done to prevent malpractice happening in the first place.

"We would like to see the government make it compulsory for all agents to be a member of a regulatory body. What we hope is that today's proposed legislation is the first step towards improved regulation of the industry," Mr Smailes added.

The head of the NAEA also called for legislation cover to offer redress for consumers renting property as well as those buying and selling.

Stephen Carr-Smith, the ombudsman for Estate Agents, also welcomed the new proposals, calling for a single code of practice and a single ombudsman service to make sure rogue agents did not slip through the net.

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