Estate agents groups launch approval scheme to help consumers
Estate agents organisations the National Association of Estate Agents and the Association of Residential Letting Agents have launched Propertymark, a new "stamp of approval" for the industry, replacing the National Federation of Property Professionals, which they acknowledged had no public recognition. "The public needs far better understanding of how to choose a property agent that has the consumer's interest at heart," an official statement noted. Propertymark protected agents will be self-regulated and seek to provide reassurance for consumers and protections against rogue operators.

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A new ‘stamp of approval’ for the industry, Propertymark, is being launched today by NAEA and ARLA, largely taking the place of the National Federation of Property Professionals brand.

The organisations say the launch of Propertymark, exclusively revealed by EYE, alters the emphasis from industry-facing licensing to consumer protection.

Member agents will have new logos to use and there will be a #LOOKFORTHELOGO campaign.

An explanatory booklet says that the National Federation of Property Professionals has no public recognition.

The booklet says: “NFoPP is not known to consumers at all, and a recent survey has revealed that even consumer-facing ARLA and NAEA have only about 20% awareness with consumers.”

NFoPP will still remain as the legal entity for the organisations within it, as registered at Companies House, but from today will trade as Propertymark. NFoPP will no longer appear on any branding.

The NFoPP Awarding Body will become Propertymark Qualifications, with successful candidates receiving Propertymark Qualifications certificates from the beginning of next month.

What has been known until now as NFoPP Regulation will become Propertymark.

In today’s official launch statement, NAEA and ARLA say: “Having listened to our members, and given the significant challenges the industry is facing, it is clear, now more than ever before, the public needs far better understanding of how to choose a property agent that has the consumer’s interest at heart.

“The new focus unifies the two organisations as ARLA Propertymark and NAEA Propertymark.”

David Cox, ARLA Propertymark chief executive, and Mark Hayward, NAEA Propertymark chief executive, said: “Having a home is the most important issue for consumers and our members are there to protect and guide people with their property transactions.

“At present, customers don’t know where to go for advice or can’t be sure if they are dealing with a professional. We are changing this.

“We will reach out to customers directly so they recognise Propertymark and understand that by using a Propertymark Protected agent they and their money are safe.

“Propertymark is a stamp of approval for consumers when they seek professional property expertise in buying, selling, renting, leasing or valuing a property.

“It stands for protection for the consumer, and offers the highest standards and qualifications among property professionals.

“Propertymark Protected agents have opted for regulation in an unregulated sector, and provide reassurance for consumers as well as protection against rogue operators.”

The launch of Propertymark will also affect NAEA and ARLA sister organisations – Association of Professional Inventory Providers; Institute of Commercial and Business Agents; and National Association of Auctioneers and Valuers.

APIP will become known as ARLA Inventories, ICBA becomes NAEA Commercial and NAVA becomes NAVA Propertymark.