October 2008

Licensing a major step closer

LICENSING of agents has taken a major step forward with the approval by the board of the National Federation of Property Professionals of proposals to introduce it for its members.

The NFOPP incorporates the National Association of Estate Agents and the Association of Residential Letting Agents and officials are keen to move the long-awaited measure forward as quickly as possible.

“This is an important development for the industry which has been under discussion for years,” said NFOPP chief executive Peter Bolton King. “Subject to agents hitting certain criteria, we would offer individual NAEA licences for agents involved in sales, with the need for at least one such individual to be present in a branch for that to be licensed. The structure has been traditionally slightly different for ARLA members but we are looking to introduce licences for them around the same time, with the first letters offering the proposal to members due to go out within weeks.”

Licensing of agents is already widespread in other countries, notably the USA, and Mr Bolton King said the measure would mean additional reassurance for the public, especially in the current financial climate.