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Estate Agent's Law Print

The Jersey Consumer Council would like to thank everyone who has participated in the consultation process on the Regulation of Estate Agents.

he sale or purchase of your home is usually the largest financial transaction that you will ever enter into.  It is surprising therefore, that such a transaction is often brokered by an estate agent who has little or no formal training and whose activities are wholly unregulated.  The Consumer Council was becoming increasingly concerned at the activities of some estate agents.  By way of example it had heard of occasions when:-

·              A property being undervalued and subsequently offered for sale by the estate agent to a fellow negotiator within his own firm.

·              An agent failing to pass on a higher bid to a Vendor because of a personal relationship with the under bidder.

·              A mis-description of property including an express confirmation that the Planning Department had advised that residential development was available at a property when no conversation with Planning had ever been undertaken.

·              An agent applying a deposit paid by a purchaser to his own use.

 

Accordingly the Consumer Council decided to take action.  After researching the methods of regulation of estate agents in other countries, a detailed consultation paper was prepared and issued to all estate agents, legal firms and States members.  The consultation set out proposals including:-

·              Proposals for self regulation by estate agents.

·              Proposals for minimum level of training.

·              Proposals for legislation including power for the Courts to prevent the person operating as an estate agent in the event that any breach of the law arose.

The consultation paper was widely welcomed by all stakeholders in the house buying process.  In particular, the Jersey Estate Agents’ Association was supportive of the proposals, recognising the advantage of a minimum set of standards by which the estate agency industry would operate.  Representatives of the Council have met with the Presidents of the Jersey Estate Agents’ Association, Julian Cubbage and Jane Denney, who have put in considerable work thus far to advance the proposals that the Council has put forward.  Now that the consultation is over and our findings are handed into Economic Development Department it was up to them to apply for Law Drafting time for this issue to be debated in the States. Unfortunately no such time was allocated to this issue in the States Annual Business Plan 2008. Looks as if we will have to wait another year. 

 

 

Click here to read the JEAA Codes of Practice document.

 

 
 
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