§ Lord Faulkner of Worcester
asked Her Majesty's Government:
What plans they have to introduce statutory regulation of estate agents. [HL1103]
§ The Minister for Science, Department of Trade and Industry (Lord Sainsbury of Turville)
The Estate Agents Act 1979 regulates the conduct of estate agents in the course of estate agency work. Its purpose is to ensure that agents act in the best interests of their clients and that both buyers and sellers are treated honestly, fairly and promptly. The Act also gives the Director General of Fair Trading the power to issue warnings or ban those persons whom he considers to be unfit to carry on estate agency work and he has shown that he is ready to use these powers where he considers such action is justified.
The director general also has a duty to keep under review the working and enforcement of the Act.