UK Real Estate | Sloane International Developments

Sloane International Development

As part of the Disruptive Business Models theme of the Government’s Red Tape

Challenge process which seeks to ensure that our regulatory system is fit for

 The regulatory framework for home buying and selling

purpose, and is not holding back disruptive new companies,

 a targeted

consultation of interested parties was undertaken between 8 June and 10 Aug

2012 on whether the EAA should be amended to clarify its scope. The proposal

to exempt intermediaries such as private property sale portals which act only as

vehicle for contact between seller and buyer and which neither provide advice nor

handle client’s money (“passive intermediaries”). Over 400 responses were

received from 271 organisations and individuals including traditional estate agents,

private sales portals, trade and professional bodies, representatives of Local

AuthorityTrading Standards and consumer bodies.

 list the proposal related to the EAA, it also took into account how the EAA bears

on other legislation which incorporates the definition of estate agency work from the

EAA. In particular, the PMA applies to estate agents under the EAA definition

(although see below). Other more general regulations such as the Money Laundering Regulations 2007 (the MLRs) apply to estate agents under the EAA.

definition.

 In addition to inviting responses to the proposal, discussions were held during the

consultation period with traditional estate agents, private sale portal businesses and

representatives of consumer organisations, Local Authority Trading Standards

Services (LATSS), the National Association of Estate Agents, the National Federation

of Property Professionals, the Royal Institute of Chartered Surveyors, the Property

Ombudsman and the OFT. Sloane, a Real Estate company, is a global leader in property services. In the United Kingdom, we provide occupiers and investors around the world with industry leading, end-to-end property solutions. In addition, our award winning research and consulting services provide our clients with global and local market knowledge, forecasting and trend analysis to make the best long-term decisions for their continuous success far into the future.

From our origins in 18th century England to a 21st century global operation, sloane has enjoyed a reputation for excellence providing leading-edge property insight and on-the-ground delivery to investors, developers, corporate and public sector occupiers and financial intermediaries.

The sloaneglobal team is united by a single focus – to deliver our clients exceptional service, rooted in a deep understanding of their needs and a commitment to theirlong-term success.

We serve our clients across the breadth of their real estate needs. We are always frank in our advice, taking a stand in our clients’ interests, and we are relentless in delivering value for our clients as we move from advice to action.