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As things stand at the moment, anyone can set up in business as an estate agent. But in November of last year, a new licensing scheme was introduced by the UK’s leading professional organisation, the National Association of Estate Agents (NAEA).
In the words of Grant Shapps, the Housing Minister: By ensuring they enjoy the trust of people buying and selling homes, estate agents will inject great confidence and movement in the housing market.”
So what does it take for an estate agency to become licensed by the NAEA? Well, at least one agent within the branch has to be qualified in residential property sales and there are requirements for Continuing Professional Development.
But in addition, estate agencies will have to demonstrate that they have sufficient professional indemnity insurance in place.
You can make sure you’ve got the cover you need at 0333 3211 403.
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