The RICS, the National Association of Estate Agents, and the Association of Residential Lettings Agents have joined forces to launch the Property Standards Board (PSB).
The new body will improve standards in residential property by developing codes of practice for estate agents, lettings agents and property managers, and will be a central point for improved consumer information on buying, selling and renting property.
The initiative is in response to Sir Bryan Carsberg’s 2008 report into residential property. The RICS wants the government to endorse the PSB so that it can set standards for all property agents.
Gillian Charlesworth, the RICS director of external affairs, said: “It is clear that the home information pack has failed to improve the consumer’s experience of buying and selling homes. We believe that the introduction of basic standards for all agents will provide consumers with better service and better information on what to expect from the agents they come across in property transactions. Home purchase and renting are far too important in people’s lives to be left to a sector with no commonly applied and enforced standards and where anyone can set up shop. We want the industry to do this for itself but look to government and consumer bodies to help us to make it happen.”
The PSB will be chaired by Dianne Hayter, former chief executive of the European Parliamentary Labour Party.
