Those expecting fireworks from the Office of Fair Trade (OFT) report into estate agency were disappointed by yesterday’s release. The Royal Institution of Chartered Surveyors (RICS) said consumers were let down with a “damp squib” report.

The report, see our news story yesterday OFT call for change in estate agency, offered nothing particularly new, said RICS today. Regulated estate agents and consumers deserve something better, the surveyors said.

Jeremy Leaf at RICS, said: “The OFT asked us and we told them - a minimum level of competency and compulsory licensing must be introduced for residential estate agents in order to ensure consumer protection and bar the cowboys. This is after all, the most expensive purchase an individual is likely to ever make.”

“By leaving the door wide open to anyone to set up as an estate agent this report does the industry and the public no favours.”

“When compulsory Home Information Packs are introduced in 2007 estate agents will have an even greater role to play. This was an excellent opportunity to clean up the industry and get rid of the cowboys. Unfortunately, the OFT has bottled out.”

Woefully short of protection

The consumers’ association Which? said The Office of Fair Trading's (OFT) report on estate agents falls woefully short of what is needed to protect consumers from the current levels of poor service and sometimes criminal activity, within the industry.

Emma Harrison, Senior Public Affairs Adviser, Which?, said: "After two years of investigation we expected the OFT's recommendations to be stronger.”

“Not only has this done little to ensure adequate levels of consumer protection but has also left the industry open to rogue traders.”

"Which? has identified the fact that rogue agents will flout the law. Because of the unenforceable legislation it is very difficult to call them to account, allowing dodgy practices to flourish, while law abiding estate agents suffer a negative reputation, undeservedly."

No redress from rogue agents

Peter Bolton King, Chief Executive of the NAEA said: “We have long campaigned for the licensing of estate agents, which this report falls short of recommending.”

“Our own code of practice provides the public with redress from rogue agents, however although we can expel and heavily fine members, we cannot stop them from continuing to practice.”

Melfyn Williams, President of the NAEA comments: "The NAEA has been calling for a number of years for improved service standards, higher education, qualifications and regulations into the industry.”

“We obviously welcome the call for more transparent contracts. Sometimes there's a distinct lack of understanding of an agent's role and we agree some agents need to clarify in more detail what they actually supply for their fee.”

“All we need is for the Government to adopt our principals and deliver to the UK consumer what they deserve - professional estate agency."