Estate agents in England and Wales support tougher industry regulation

A survey of 537 estate agents across England and Wales reveals that 92% support stronger industry regulation, including mandatory licensing and professional qualifications. The research, commissioned by GetAgent, indicates that 48% of respondents believe rogue or substandard agencies are a significant issue in their local markets.

Key concerns cited by agents include poor knowledge of property law and regulation (21%), aggressive or unethical sales practices (16%), and misleading marketing or withholding information (16%). Other issues identified include hidden fees and poorly trained staff, both at 15%.

The study highlights several consequences of substandard practices, most notably damage to public trust (31%) and competitive disadvantages for reputable agencies (16%). For sellers, rogue operators can lead to longer sales processes, unnecessary fees, a higher risk of sales falling through, and lower achieved sale prices.

While there is broad support for a legally enforceable code of conduct and minimum qualifications, some agents expressed concerns regarding the potential for increased operating costs, additional administration, and the risk of regulation becoming a mere ‘box-ticking exercise’.