Estate Agency News - Published by Estates Press Ltd. A member of the Oldroyd Publishing Group Ltd.

Published by Oldroyd Publishing Group Ltd

Sat 24th February 2018
News Options
Home Page
News Archive
Top 50 League Table 2009
Letters Archive
About Us
Columnists
Mike Goodman
Bob North
Paul Smith
End Line Left
 

This website is no longer being
updated but remains online
by Oldroyd Publishing Group Ltd as an
archive of estate agency news articles.

October 2009

OFT's first ban over redress rules

THE Office of Fair Trading has issued its first ban on an estate agency for failing to join a redress scheme — a year after the stipulation came into effect.

Prohibition orders have been made banning Wolfgang David Dunn, Sean Allen Wren and Astons GB Ltd, the Southampton estate agency they work for, from engaging in estate agency work.

An independent OFT adjudicator found that Mr Dunn, Mr Wren and Astons GB Ltd had breached the requirement on estate agents to belong to a redress scheme. They had also failed to pass on an offer from a potential purchaser and had intentionally failed to provide the OFT with information as required by the Estate Agents Act when it was conducting its investigation.

The OFT action came after Mr Dunn and Mr Wren were served with a £1,000 penalty charge by Southampton Trading Standards Services for not being a member of a redress scheme. After they continually failed to join a scheme, the matter was referred to the OFT.

From October 1, 2008, all residential estate agents are required to join one of the two redress schemes currently approved by the OFT, operated by The Property Ombudsman and the Surveyors Ombudsman Service.

Charles Wallace, the OFT’s head of estate agency enforcement, said: “These are serious breaches and a reminder to all estate agents that by failing to join a redress scheme, they are likely to face a ban from the profession.”