Home buyers to look for Estate Agents displaying approved code logo

As Codes Awareness Month draws to an end, the OFT is encouraging home buyers to look for estate agents who display the OFT Approved code logo.

Independent research shows that customers of businesses that are members of an approved code generally can expect a more structured and developed approach to customer service.

Estate agents displaying the OFT Approved code logo offer a higher level of customer service because they are a member of the Ombudsman for Estate Agents Company Ltd (OEA), a body whose consumer code has met the OFT Consumer Codes Approval Scheme's challenging standards.

Estate agents signed up to an OFT Approved codes are committed:

to giving clear-cut information about the services they provide including clear and concise information on cancellation rights,

to having formal procedures for dealing with consumer complaints, with a conciliation service if a member's own complaints procedure does not resolve an issue, and

to treating their customers fairly should any problems arise.

Consumers can look for estate agents in their area who are members of the OEA by using the postcode search facility on the OFT website.

Visit oft.gov.uk/codes for more details.

Colin Brown, OFT's Director of Advisory, Policy and International, said: 'Buying a home is the biggest financial commitment many of us will make, and consumers who choose an agent signed up to an OFT Approved code can rest assured that they will be treated fairly. The OEA's consumer code of practice raises the bar for customer service in the estate agency sector.' Christopher Hamer, Ombudsman for Estate Agents, said:

'The OEA members make up over 70 per cent of the residential agents in England and Wales, but it only takes a few bad apples to create a negative image. OFT's approval of our Code of Practice is recognition of our commitment and contribution to improving standards of service within the estate agency business. Consumers naturally benefit from using a firm that operates under the Code.'