UK Landlord Forum / Life

OFFICE OF FAIR TRADING News Release (179/07) issued by The Government News Network on 20 December 2007
The OFT has issued a prohibition order against a firm of East London estate agents, Lloyds Residential Property Services Ltd, and one of its directors, Patrick French, banning them from estate agency work. A warning order was also made against one of the company's employees, David Estall.

An adjudicator found that Lloyds, Mr French and Mr Estall failed to forward offers promptly and in writing to their clients, and failed to disclose their personal interest to purchasers in respect of two properties. One of the properties was owned by Mr Estall. The adjudicator also found that Lloyds and Mr French fabricated letters to the OFT in an attempt to conceal their actions.

Mike Haley, OFT Head of Consumer Protection said:

'Estate agents who have a personal interest in a property that they are marketing must declare this without fail. Fabricating letters to the OFT when it is carrying out an enquiry is of the utmost seriousness, and we have demonstrated that where necessary we will take the strongest possible action against them.'

http://www.wired-gov.net/wg/wg-news-1.nsf/0/BF1C5ECF75C85C20802573B7003DA90C?OpenDocument

OMG.

I think I've dealt with them before.


V

Seriously??!?!?!

Yeah, around '99 my then-partner and I were trying to buy a flat in Docklands, and I think they were one of the agents we dealt with.


V

Small world. Good stuff

Man, if you had bought a place in the Docklands back then, you would be quids in right now.

Well, he would've been - I was a student and he'd have paid the mortgage so it would've been his place.

Unfortunately he was a contractor and Alliance & Leicester screwed him around on mortgages, so the sale fell through and we ended up renting just off of Marsh Wall.


V

Contractors, tut, i dont know/

Will do marvels for peoples opinions on estate agents, by the way, I think its great they ahve been called to task - does anyone know how regulated the industry is? I know in America you have to do a ton of college work and exams etc, regulalary reviewed to be issues a licence, without it you cant even make coffee for a client!! Wonder if the same here yet/

My understanding is that there is currently no training requirement for estate agents in this country, or certification. There is an Ombudsman though, I think.


V

Anyone can be an estate agent and start up an estate agency. There is currently no legislation. That's the main problem.

Anyone want to buy a house of me with double aspect windows and an open working fire place ! lol

Hehe ... sounds nice! I think we need pictures, eh Pfag?


V

Agreed