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Estate Agents Redress Schemes

The Consumers, Estate Agents and Redress Act 2007 enables the Secretary of State to require those engaging in estate agency work in relation to residential property to be members of an OFT approved estate agents redress scheme.

The OFT reminded residential estate agents that, from October 2008, they must be members of an approved redress scheme. See press release. 

Background

The Secretary of State for Business Enterprise and Regulatory Reform made an Order under The Estate Agents Act 1979 (as amended by The Consumers, Estate Agents and Redress (CEAR) Act 2007) on 1 July 2008. This requires those engaging in estate agency work in respect of residential property to join an approved estate agents redress scheme by the time the Order comes into force on 1 October 2008. It is available on the UK Statute Law Database.

Details of the redress schemes which are currently approved by the OFT and available for estate agents to join are below. Estate agents wishing to join a scheme should use the application processes detailed on the schemes' websites (links to the websites are below).  

The OFT is able to approve a redress scheme if it considers the provisions of the scheme and its proposed operation are satisfactory.

Approved applications

Review

The OFT monitors the performance of the two approved estate agents redress schemes, and we are currently reviewing certain aspects of the operation of the schemes. The areas we are focusing on within the review are:

  • The schemes' complaint handling processes, including:
    - Complaints or issues which are accepted as being within the scope of the scheme and those rejected as being outside scope
    - Decisions and outcomes, including early resolutions
  • Other factors relevant to the operation of the schemes, including:
    - Publication of operational information by the schemes, including case information

We expect to complete the initial stage of the review work by July 2012.

To gain OFT approval the schemes had to satisfy the OFT that they met certain criteria and requirements, including in respect of their operation and their complaint handling processes.

While the initial stages of the review work will draw on operational information from the schemes and information the schemes publish, the team would welcome any comments you may have which are relevant to the review. Please note that the OFT cannot advise or assist on any individual complaints. We can be contacted via this email address: EARSR.review@oft.gsi.gov.uk




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