While the Council for Estate Agencies (CEA) aims to uphold professional standards with its new rule requiring property agents to complete at least three transactions over three years or pass a refresher exam, some industry stakeholders worry this may pose challenges. For newer or part-time agents, meeting the minimum transactions could be difficult, potentially excluding capable agents who contribute in other ways.
The extended registration validity to three years, although reducing administrative tasks, might delay the identification and removal of inactive or underperforming agents from the industry. Additionally, the monthly collection of commission data raises privacy and competitive concerns among agencies.
These perspectives highlight the need for the CEA to balance regulatory ambitions with the diverse realities of the property agent community, ensuring that measures are fair and inclusive. Ongoing dialogue and possible reconsideration of criteria may be necessary to address these issues effectively.