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25/09/2008
Estate Agents Face Fine For Failing To Oblige Redress Law
All Northern Ireland estate agents who fail to sign-up to a redress scheme by the end of this month will be fined, the government has warned.
The new law will require every estate agent, who engages in residential estate agency work, to belong to an approved redress scheme.
The Estate Agents (Redress Scheme) Order 2008, which will take effect across the UK from 1 October 2008, will allow buyers and sellers of residential property to refer complaints about estate agents to an ombudsman, free of charge.
The ombudsman will have the power to take a range of actions, including requiring the estate agent to pay compensation.
The ombudsman's decision will be binding on the estate agent, however complainants will also have the right to reject the decision, and pursue their complaint through the courts.
Estate agents who fail to join an approved scheme by 1 October 2008 will be subject to a £1,000 penalty charge, and those who refuse to join a scheme could ultimately be banned by the Office of Fair Trading (OFT) from carrying out estate agency work.
In Northern Ireland, the legislation will be enforced by the Trading Standards Service (TSS) of the Department of Enterprise, Trade and Investment.
David Livingstone, Head of Trading Standards Service, said: "Trading Standards Service has written to all estate agents in Northern Ireland to notify them about the new law, and to advise on what action is required.
"While we hope that it will not become necessary to impose penalty charges on any estate agents in Northern Ireland for non-compliance, nonetheless we are duty bound to enforce this new law. If any agents fail to join one of the approved schemes, we will have no option but to take enforcement action."
(PR/JM)
The new law will require every estate agent, who engages in residential estate agency work, to belong to an approved redress scheme.
The Estate Agents (Redress Scheme) Order 2008, which will take effect across the UK from 1 October 2008, will allow buyers and sellers of residential property to refer complaints about estate agents to an ombudsman, free of charge.
The ombudsman will have the power to take a range of actions, including requiring the estate agent to pay compensation.
The ombudsman's decision will be binding on the estate agent, however complainants will also have the right to reject the decision, and pursue their complaint through the courts.
Estate agents who fail to join an approved scheme by 1 October 2008 will be subject to a £1,000 penalty charge, and those who refuse to join a scheme could ultimately be banned by the Office of Fair Trading (OFT) from carrying out estate agency work.
In Northern Ireland, the legislation will be enforced by the Trading Standards Service (TSS) of the Department of Enterprise, Trade and Investment.
David Livingstone, Head of Trading Standards Service, said: "Trading Standards Service has written to all estate agents in Northern Ireland to notify them about the new law, and to advise on what action is required.
"While we hope that it will not become necessary to impose penalty charges on any estate agents in Northern Ireland for non-compliance, nonetheless we are duty bound to enforce this new law. If any agents fail to join one of the approved schemes, we will have no option but to take enforcement action."
(PR/JM)
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OFT bans Northern Ireland estate agent
The OFT has made a prohibition order against a Northern Ireland estate agent banning him from estate agency work. Sidney Mawhinney was a sole trader who operated under his own name in Carryduff, County Down. At Downpatrick Crown Court on 18 November 2005, he pleaded guilty to eleven counts of theft and thirteen counts of false accounting.
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NI House Prices Continue To Plummet
The average house prices in Northern Ireland are continuing to fall. According to the University of Ulster’s Quarterly House price Index the average cost of a house is down 11% on this time last year. The average house in Northern Ireland now rests at £137,000.
10 February 2009
More Signs Of Recovery In NI Housing Market?
There are more reported sign of recovery in the Northern Ireland housing market today, after a local estate agents said it was "officially" selling again. The announcement has been supported by chartered surveyors across the province, who have predicted sales will increase next month.
More Signs Of Recovery In NI Housing Market?
There are more reported sign of recovery in the Northern Ireland housing market today, after a local estate agents said it was "officially" selling again. The announcement has been supported by chartered surveyors across the province, who have predicted sales will increase next month.
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Northern Ireland WeatherThis Evening and Tonight:Apart from a little patchy drizzle it will be a dry evening and night with variable amounts of cloud. A few mist and fog patches forming. Minimum temperature 7 °C.
