Hang your shingle and carry on: estate agents – the unlicensed UK profession

Abstract

PurposeThe purpose of this paper is to address the fact that whilst most providers of professional services in the UK are regulated by means of pre‐entry qualifications or required standards, those setting themselves up as estate agents face no such impediment. This is particularly surprising in that these practitioners are centrally involved in what is often the largest and most stressful of consumer transactions.Design/methodology/approachThe paper traces the many and various attempts at establishing a regulatory framework, the many and various ways in which they failed, and current proposals for change.FindingsIt is asserted that more and better protection is owed to these vulnerable consumers. Whilst the majority of practitioners are members of one professional body or another, there remains a significant minority who are not, and that the time has come for universal regulation.Originality/valueThe paper is important in that it seeks to take a long view of a matter of public concern that has not been taken since the late 1960s.