London, United Kingdom (12 September, 2012) – MeetMyAgent.co.uk, an independent estate agent review and rating website, sheds light on recently-announced proposals to controversially amend the Estate Agents Act 1979 to actively encourage consumers to bypass traditional estate agents.
The Department for Business Innovation & Skills’ proposal details that businesses acting as ‘passive intermediaries’ – defined as those providing a means for sellers and prospective buyers to communicate with one another – should be outside the scope of the Act.
Critics say that if the proposal passes, therefore allowing non-traditional agents to operate outside the scope of legislation, thousands of industry jobs would be in danger and consumers would be put at risk.
The proposal would also open the door for supermarkets to enter the estate agency market, and will therefore necessitate the creation of new business models across the industry.
A spokesperson for MeetMyAgent commented: “It seems the aim of this proposed change to legislation is to allow for greater competition and innovation within the industry. With most property searches being carried out online, the proliferation of online agencies can give homeowners an alternative to traditional high street agents and help lower their overheads when selling.
“However, with the companies in question not having to fall within the remit of the Estate Agents Act 1979, this could cause a huge fall in standards in terms of best practice and accountability. Competition in any industry is welcome to consumers, but most consumers would need to think twice when choosing cheaper online services as without regulation this will create higher risk of bad practice.”
For more information on MeetMyAgent and their estate agency services, visit their website at http://www.meetmyagent.co.uk.
MeetMyAgent.co.uk is a London-based company specialising in independent estate agent reviews and ratings to help homeowners find the best estate agents for property sales or lettings. MeetMyAgent.co.uk’s website is simple and easy to use; a user simply types in their area or postcode and then can read independent, objective reviews and ratings from previous clients who have used estate agents in their area.
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