News April 2023: OEA’s record payout
April 2023
OEA’s record payout
THE Ombudsman for Estate Agents has made the highest ever award to a complainant in the 20-year history of the Scheme, it is revealed in the OEA’s latest annual report.
The estate agent involved was ordered to pay out £23,880 after conflicting advice had been given by staff and the agent had failed to act in the best interests of the client or negotiate effectively. The maximum award that can be made under scheme rules is £25,000.
The report also shows that, at a time when overall sales activity across the market dropped by as much as 60 per cent, disputes involving sales only dropped by three per cent. But while sales activity dwindled, the rise in the residential lettings market saw a 200 per cent increase in the lettings disputes handled by the OEA and Ombudsman Christopher Hamer predicts that during 2023 lettings will become the major area of his activities.
