Ombudsman for Estate Agents & RE/MAX Scotland
From Oct 1st 2008 a change in legislation required all estate agents to apply for membership to an approved redress scheme.
We at RE/MAX Scotland fully embrace change and as a result have ensured that our members also fully sign up to the Ombudsman for Estate Agents code of practices as approved by the Office of Fair Trading.
By signing up to this Code of Practice, RE/MAX Scotland provides additional consumer protection that goes beyond that required by law.
- An agent is required to have Professional Indemnity insurance to ensure that any compensation awarded to you can be paid
- An agent is required to have an in-house complaints system with written procedures; inform you how to refer any unresolved dispute to the Ombudsman; and co-operate with any investigation by the Ombudsman
- An agent agrees to pay compensation, in full and final settlement of a complaint, if this is awarded by the Ombudsman and is accepted by you as the complainant. This award must be paid promptly
- The maximum that the Ombudsman can award is £25,000
- In the rare case that an agent fails repeatedly to follow the rules of the scheme, the agent can be reprimanded, fined, or expelled from the OEA. In the case of expulsion, local media, the OFT and other organisations will be informed.
For more information on Ombudsman for Estate Agents click here.
If you require further information on this article please contact Scott Marshall on 01694 464 200.
