Mr. Homerasked the President of the Board of Trade what is the outcome of the recent discussions between his Department and bodies representing estate agents; and whether he will make a statement.
§ Mr. JayThe 10 principal societies representing estate agents have told me296W that they are proposing to set up a Council similar so far as possible in constitution and functions to the statutory body provided for in the Private Members Bill introduced in the last Parliament.
I welcome this proposal as a move towards eliminating undesirable practices. The effectiveness of the new body will depend to a great extent on the support from the public which it receives.
At the request of the societies, I have agreed to nominate to the Council seven independent members and three estate agents who do not belong to the larger societies. I have also agreed to nominate the Chairman from among the members of the Council and I have told the societies that the Board of Trade would be prepared to comment informally on any rules or code of conduct that the Council may draw up.
The report of the Monopolies Commission on their investigation into estate agents' fees, when it is received, will provide valuable guidance to the Council and to the Government on this subject.
The decision of the societies to set up a Council voluntarily does not preclude legislation and the Government will watch closely how the situation develops. They would be prepared to consider legislation if this seemed necessary later in the light of experience and would support a suitable Bill designed to deal with any problems remaining after the Council has been established.