The Consumers Estate Agents and Redress Act 2007 requirements to belong to an approved redress scheme

03 October 2008
 

 

The Surveyors Ombudsman Service (SOS), set up by RICS to provide regulated member firms with access to an independent consumer redress mechanism, is approved under the terms of the Consumers, Estate Agents and Redress Act 2007 (CEARA).

Since 1 October 2008, it has been a legal requirement for residential estate agents to belong to an OFT approved redress scheme. There are two approved schemes - the SOS or the Ombudsman for Estate Agents.  

The SOS is a free service to members although, from the start of January 2009, a case fee of £150 plus vat is payable if a complaint goes all the way to Ombudsman for a formal decision.

If you are not already registered with a scheme and you carry out residential estate agency work it is essential that you register with one of them now. 

To register with the SOS visit firms.rics.org and access your firm's annual return. When asked which consumer redress you have chosen, simply select Surveyors Ombudsman Service, or contact RICS Regulation Helpline for assistance with this process.

For further information about the SOS please visit the Surveyours Ombudsman website or contact RICS Regulation Helpline on 020 7695 1670.

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