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OFT should protect consumers, not prices – RICS

Director of RICS Regulation Steven Gould said: "When consumers, consumer bodies, property professionals and even OFT’s ex Director General come down on one side of an argument and OFT comes down on the other, then something must be wrong.

"The OFT needs to realise that there is more to protecting consumers and maintaining fair trading than prices.

"The OFT needs to start talking to government about a joined up approach for property.

"The Housing Minister has announced plans for regulating lettings while OFT is advocating a free for all in sales.

"The consumer has a right to expect protection in both and the adoption of decent standards by those purporting to advise the public on buying and selling property.

"Unlike OFT, we do not see that this precludes new business models."

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