ROPA (The Regulation Of Property Agents) have announced major changes to the property sector which are still due to come in. In a new report, the working group announced minimum standards as well as a new code of conduct to the sector including lettings and sales, auctioneers, rent to rent providers, property guardians, international property agents, and online-only firms. Click here to read the full report published by ROPA. To summarise the report, the main changes agents need to know include:
- The introduction of a new independent property agent regulator (ROPA).
- A single, mandatory and legally-enforceable code of practice for property agents.
- The launch of minimum entry requirements and continuing professional development for property agents.
- Potential changes to fees, charges and the ability to choose a managing agent for leaseholders and freeholders.
ARLA and NAEA have summarised the changes in a short video below.