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 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. The Order 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.
The OFT monitors the performance of the two approved estate agents redress schemes, and we have recently undertaken an initial review of certain aspects of the operation of the schemes. The areas within scope of the review are:
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.
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: email@example.com.
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