We take regulations seriously and have implemented procedures to counter money laundering because property misdescriptions are expensive for agents in terms of both time and investment.
In the past few weeks we have heard much comment from the Tenancy Deposit Schemes about estate agents who are not registered with recognised bodies and have seen the withdrawal of support from lenders that are not affiliated.
The true cost of these unprofessional and often recently formed agencies is borne by tenants, landlords, buyers and sellers who have no idea of the ramifications of dealing with businesses that are simply out to make a fast buck to boost their withering income streams.
I have long advocated the introduction of regulation and believe this would be the best way to remove the stigma attached to estate agents.
Many companies are doing their best to provide a professional and efficient service for their customers at a time when margins are under huge pressure.
But their reputation is too easily tarnished by the few that choose to operate outside the ethics of the industry. The sooner these businesses are dealt with, the better.