In­dus­try is pre­pared for pro­tec­tion act

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HIS­TORY Many com­ments made re­cently on the im­ple­men­ta­tion of the new Con­sumer Pro­tec­tion Act (CPA) sug­gest that it will rock the prop­erty in­dus­try to its foun­da­tions. “How­ever I don’t think that is go­ing to hap­pen,” says Berry Everitt, MD of the Chas Everitt In­ter­na­tional prop­erty group. “Of course the new leg­is­la­tion will be a big is­sue for us, and of course we are not fault­less, but our in­dus­try does have a his­tory of be­ing proac­tive and pos­i­tive when it comes to con­sumer pro­tec­tion so I’m sure we’ll man­age very well.” Writ­ing in the lat­est Prop­erty Sign­posts news­let­ter, he says: “We should re­mem­ber that es­tate agents ini­ti­ated and po­liced their own strict code of con­duct many decades ago, long be­fore it was writ­ten into the Es­tate Agents Act. And since then, only a tiny per­cent­age of the num­ber of agents reg­is­tered with the Es­tate Agency Af­fairs Board have been found guilty of con­tra­ven­ing that code to the detri­ment of any con­sumer. Many com­pa­nies have been pre­par­ing for months by chang­ing their sale and lease agree­ments to plain-lan­guage doc­u­ments that are easy for con­sumers to un­der­stand, and con­duct­ing in­for­ma­tion and train­ing ses­sions to re­fresh their agents un­der­stand­ing of the con­sumer’s rights in a prop­erty trans­ac­tion. I think the way the CPA af­fects us will come down to how we com­mu­ni­cate with our cus­tomers and de­liver proper feed­back.”

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