The National Trading Standards Estate and Letting Agency Team (NTSEAT) and the Property Ombudsman launched a survey on Friday evening asking estate agents to discuss the uptake of referral fee transparency rules.
Last March, the NTSEAT set clear guidance on how estate agents should inform consumers of any referral fees.
The survey will be open until February 17th and will help improve transparency in the estate agency sector as part of the government’s aim to improve the home buying and selling process.
The questions include asking agents if they clearly signpost the referral process to their thoughts on how the transparency process can be improved.
James Munro, Head of the National Trading Standards Estate & Letting Agency Team, said:
“It’s been just over a year since we launched our industry guidance on transparency of referral fees during the home buying and selling process. We’ve been monitoring compliance with the guidance during this period, but are keen to hear feedback directly from estate agents themselves. This will inform our understanding around compliance and identify how effectively the guidance helps protect consumers.”
Katrine Sporle, Property Ombudsman, said:
“The industry is very much aware that the Government is concerned about transparency and wants consumers to be able to make informed choices. The results of this survey will provide an indication of how agents have adapted their procedures since the previous survey and, importantly, following the release of NTSELAT’s referral fee guidance”.
