When Jim & I were discussing setting up James & James, one of the ‘non negotiables’ we agreed on was to become as regulated as we can be. We want you, our customers to know that we choose to have extra regulation. This keeps us on our toes and ensures you nothing but professionalism and trust. Unlike the financial services sector, property agents do not currently have to be qualified. The idea that 'anyone can become a property agent' is not far from the truth, but only Propertymark agents offer true protection and peace of mind.

What is Propertymark Protection?                                     

Propertymark Protection is a consumer protection scheme that provides financial protection, an independent redress scheme, and a code of practice for consumers who use the services of our members.

It ensures that members adhere to high standards of professionalism and ethical behaviour, and gives consumers peace of mind when dealing with Propertymark members. By using a Propertymark member, consumers can be assured that they are dealing with a professional who is committed to providing a high standard of service, and that they have access to a range of protections and recourse in the event that something goes wrong.

1. You are backed by a Client Money Protection (CMP) scheme

Propertymark Protected agencies have to hold client money in a separate client account which is independently inspected every year. In simple terms, CMP is a reimbursement scheme meaning your money is safe should an agent unexpectedly go bust or commit theft.

2. Your agency complies with a nationally recognised Code of Practice

To uphold our high standards, all members are obliged to comply with our Conduct and Membership Rules. Disciplinary hearings are arranged when serious breaches occur; a tribunal will consider the case and impose sanctions on the member if they are found to have breached our rules.

3. Your agency has professional indemnity insurance

This insurance provides cover for legal costs and expenses in claims resulting from negligence or breach of professional duty. It also covers any damages or costs awarded to consumers as a result of negligence.

4. Your agency has all the required registrations 

We confirm our members' registration with the Information Commissioner’s Office (ICO) who uphold information rights in the public's interest, their registration with a Government-approved independant redress scheme, and we also check that our members are registered with HMRC for Anti-Money Laundering supervision.

5. The responsible agent holds a relevant property qualification

Individual Propertymark members are also required to undertake training every year, this helps to ensure they are up to date with best practice and understand legislative changes which regularly alter the playing field. 

We were lucky enough to meet with Phil Spencer (& Kirsty) – Phil has said “ The regulation of estate agents is a work in progress. In the meantime there are membership bodies such as Propertymark who continue to ensure excellent practice, and their member agents absolutely have to have qualifications and adhere to strict codes of conduct. Do look out for them, those are the ones you want to be working with”