Estate agents could soon face major changes under government plans designed to speed up property transactions, reduce fall-throughs and improve standards across the industry.
The proposals include mandatory sales packs containing key property information such as condition, leasehold charges and chain status before a home is marketed. The government also plans to introduce a new Code of Practice for estate agents, consult on mandatory professional qualifications and explore earlier binding agreements between buyers and sellers to provide greater certainty during transactions.
The reforms aim to cut transaction times, which currently average around 120 days, and reduce the number of sales that collapse before completion. Ministers believe the changes could shorten the process by up to four weeks while improving transparency and consumer confidence.
Malcolm Prescott, Managing Director of award-winning estate agency Webbers, welcomed the proposals:
"I am very pleased to see that at last, after years of professionals like ourselves calling for basic standards within our profession to improve, this Government has a plan, let us hope they stick to it.
"Here at Webbers, we can proudly say that all of our customer-facing staff and valuers have passed The Guild of Property Professionals Associate Scheme examination, demonstrating our commitment to raising standards for both our clients and the profession as a whole. Webbers is also an Office of Fair Trading Trusted Agency in every town where we operate, a recognition we are extremely proud of."
The government intends to introduce the new Code of Practice later this year, consult on mandatory qualifications from 2027 and bring forward legislation by 2029 covering sales packs, earlier binding agreements and secure digital sharing of property information.
