Propertymark chief executive Nathan Emerson has welcomed housing secretary Angela Rayner’s speech today, which addressed the regulation of property agents.

During her speech at the Labour Party Conference in Liverpool, Rayner highlighted that some estate agents, letting agents and property management agents are exploiting leaseholders and tenants.

She stated: “A sector with many decent businesses of course. But they are undermined and undercut by far too many cowboys, crooks and con artists. And homeowners and renters and leaseholders pay the price through hidden fees and traps.”

Rayner said she highlighted the problem during her time as a backbencher but now under the new prime minister she revealed she is “proud” to [tackle the problem] herself.

She addressed the audience: “Conference, we will legislate for an independent regulation to reign these cowboys in. They will be required to follow the rules and if they don’t, their licenses will be taken away.”

Reacting to the housing secretary‘s comments, Emerson welcomes the UK Government’s commitment to stronger regulation of property agents.

He says: “Professional property agents are increasingly being undercut by unqualified and inexperienced operators who are not held to the same professional standards.”

“This is unfair to responsible businesses that invest in qualifications, training and compliance, and leaves consumers exposed to poor practice without adequate protection.”

“Building on the professional standards, structures and good practice already established across the sector will be critical to making this a success and ensuring the new regime is understood, enforced and adhered to consistently.”

“Propertymark looks forward to working constructively with the UK Government to ensure regulation delivers higher standards, effective enforcement and a genuinely professional property sector.”