The OFT (Office of Fair Trading) has today approved a scheme to deal with complaints about estate agents -as if they don’t have enough problems with the housing slump!
Buyers and sellers of residential property will, from October, be able to refer complaints concerning members of the scheme to an ombudsman, which will have the power to make a range of awards, including requiring a member of the scheme to pay compensation. The ombudsman’s decision is binding on the estate agent, although a complainant can choose to reject the decision and pursue their complaint through the courts. The SOS approved redress scheme will be a free service to complainants. From 1 October it will become compulsory for all estate agents dealing with residential property in the UK to join such a scheme.
About Giles
Giles is the founder and managing director of ContractStore. It was his idea to set up a company selling documents online and he has played a major part in the company's development.
He is an English solicitor, with over thirty years' experience of drafting and negotiating commercial and construction contracts in the UK and overseas. He has long been convinced that there is a quicker and simpler approach to the delivery and supply of most contracts, and he is an active proponent of the use of plain English in legal documents. He specialises in the drafting of construction and engineering contracts and as well as contributing contracts to the ContractStore website, he is co-author of the JCT Constructing Excellence Contract publiushed in 2007 (and its predecessor, the Be Collaborative Contract, which is available online from ContractStore).
Interesting point of view. I’ll consider changing my mind about this but for now I still don’t see things the same way you do.
Ahh the oft maligned Estate Agent!
It is about time that Estate Agents had a governing body similar to the financial and travel businesses, to protect both clients and the agents themselves. This will be an interesting first step.