Estate agents ‘should face more regulation’

Estate agents 'should face more regulation'
Photo: Envac/ Imagebank Sweden
Current laws governing real estate agents are insufficient and more regulation is needed, the Swedish National Audit Office (Riksrevisionen) has said.

The audit office wants the government to review the legal requirements for documentation. Better documentation could reduce the number of disputes between consumers and estate agents, it said.

In the absence of documentation, disputes are often left with the estate agent’s word standing against that of the buyer or seller. Disagreements over surveys, bidding and property descriptions are quite common, the audit office said.

The Swedish Board of Supervision of Estate Agents (Fastighetsmäklarnämnden), which is supposed to keep an eye on estate agents, has been too passive in its role as a regulator, the audit office said.

Properties in Sweden