Real estate agents and agencies in the United Kingdom that engage in “portal juggling” could be banned from the industry.
The process is reported to be deliberately misleading potential home buyers through the practice.
The warning comes from the National Trading Standards Estate Agency Team, which has confirmed that the practice is in breach of trading regulations and can be fraudulent.
The practice involves the deliberate removal of properties on major property portals before relisting them – often with minor differences – to make them appear new to the market.
The National Trading Standards Estate Agency Team has received complaints that some real estate agents who may be struggling to sell a property are using this practice to mislead potential homebuyers.
Acting on these complaints, The National Trading Standards Estate Agency Team has confirmed that the practice is illegal and could lead to prosecution.
If a British real estate agent has relisted a property and described it as ‘new on the market’ (or implying it as such), or using re-listings as a mechanism for falsely inflating sales statistics, this would constitute an offence under the Consumer Protection from Unfair Trading Regulations 2008 (CPRs).
False representations made by an estate agent could also fall under the scope of the Fraud Act 2008.
James Munro, Team Leader of the National Trading Standards Estate Agency Team, said: “It is clear that portal juggling is a concern to many in the estate agency industry and we are warning those real estate agents involved in portal juggling they may be breaking the law, which could lead to enforcement action from local trading standards authorities and prosecution.
“Real estate agents and individual employees involved in this practice also face being issued with warning or prohibition orders if they have used misleading statements or made false representations about properties they are trying to sell.
“We will work closely with industry bodies to stop this unfair and misleading practice, which misleads prospective home buyers and harms honest real estate agents who conduct their business in a fair and professional manner.”
The National Trading Standards Estate Agency Team is now working with industry bodies across the U.K., and the major property portals, to stamp out portal juggling.
