The National Association of Estate Agents (NAEA) has rejected the Royal Institution of Chartered Surveyors’ (RICS) offer of membership. Acceptance would have resulted in the NAEA becoming wholly owned by RICS, creating a single brand in the housing market with unified standards and ethics regimes.
A recent Office of Fair Trading study found that consumers are uncertain about the market, especially standards they can expect and options open to them. RICS hoped a union would address some of these concerns.
‘We are disappointed by the NAEA decision,’ said Louis Armstrong, chief executive of RICS. ‘We want to bring together the recognised housing market leaders in the high street, to the benefit of both consumers and the housing sector. The public needs to be able to distinguish the residential estate agents they can have confidence in. One body would lead to clarity for consumers, one voice for the industry with unified standards and one point of contact for Government and statutory bodies to consult.’