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LONDON - Consumers have been given greater legal protection from rogue estate agents.
The new Consumer, Estate Agents and Redress Act makes it compulsory for estate agents to belong to an independent ombudsman, with powers to award compensation to buyers and sellers.
Agents who refuse to join could be banned from operating.
Currently, just 60 percent of estate agents are part of a voluntary scheme run by the Ombudsman for Estate Agents.
The law also requires estate agents to keep written records, which can be inspected without notice, for six years, and includes measures on doorstep selling and consumer representation.
It gives people the same seven-day cancellation and cooling-off rights for solicited visits as they currently have for unsolicited visits - making it harder for traders to take advantage of vulnerable consumers.
At the same time, the National Consumer Council (NCC), Energywatch and Postwatch will merge to provide a simplified information and advice service.
Consumer minister Gareth Thomas said: "We know that many people are unhappy with the service they receive from estate agents and many agents are angry that their reputation is damaged by a dishonest minority.
"This law will drive up standards and require all estate agents to give their customers a good service."
Ed Mayo, chief executive of the NCC, said the Act was a "real victory for consumers".
"(It) puts companies with shoddy services on notice that they will need to clean up their act," he added.
All parts of the Act will come into force during 2008.
- REUTERS
