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Submission – Anonymous 5 – 15 October 2021
Please find below my responses to the panel's 5 questions.
- The Panel notes that your business is not a member of the Jersey Estate Agents Association or a member of the UK Propertymark and the Property Ombudsmen schemes. Please could you provide reasons as to why your business has not formally subscribed to a professional body or code of conduct?
Many years ago I encouraged the estate agency where I operated as a consultant to join the JEAA and I sat on the committee for the short duration of time that that agency was a member. We had spoken with representatives from the JEAA and we received joining information, and had every intention of joining as we have all the levels of Professional Indemnity Insurance etc already in place, but to be honest with the market being so busy completing the application form had slipped my mind. Currently none of our staff are members of the NAEA so we cannot become members of UK Propertymark and the Property Ombudsmen.
- In the absence of estate-agent specific legislation, to what extent do you think that it is problematic for buyers and sellers in Jersey, that estate agents are not required to
attain membership of a professional body or adhere to a code of conduct?
My opinion is that all estate agencies should adhere to a code of conduct as we do at (ANONYMISED), even though we are not currently affiliated to any of the associations in Q1. I see the main problem for buyers and sellers is misrepresentation of the property being transacted. This would be discovered by the conveyancers but only after costs being borne by the purchasers and sellers. Moving house is one of the most stressful processes in one's life and also the time wasted for all parties should the misrepresentation result in an aborted completion.
- A 2019 Report produced by the UK Regulation of Property Agents: Working Group, concluded that "Regulation will provide the opportunity to prevent bad practice and drive cultural change within the industry". Do you believe that this statement could also apply to estate agents in Jersey?
Yes I believe it would.
- Do you believe that the experience of transacting property in Jersey would improve if all staff working for an estate agent, were required to be appropriately qualified?
I believe less experienced staff would benefit the most from a relevant qualification and thus the buyers and sellers experience would improve, but I do not see this to be the case with the vast majority of transactions that are handled by experienced agent where the experience is already good. Thus I believe there would be only minimal improvement.
- Overall, do you think that estate agents in Jersey should be regulated and/or required to adhere to a standard of Code of Practice?
I think that estate agents should adhere to a standard of Code of Practice and as such this would come from regulation, although with the current supervision by the JFSC I believe that the regulation should not be so excessive that it reduces our agents ability to operate efficiently within the set guidelines.