The regulation of estate agency

Abstract

Under Maltese Law there is no specific legislation dealing with estate agents. There seems to have been no attempt to examine the subject in a structural manner. The research question in this thesis addresses whether there is a need for regulation in Malta dealing with the estate agents' profession. For the scope of this thesis the term 'estate agent', as defined by Oxford dictionary, is 'a person who conducts business in sale or lease of houses and land'. This figure in Malta came to the fore in the 1960's, and our law was not updated in line with today's commercial activities. In fact Maltese law, as such only recognizes the broker or 'sensar' in this field. Moreover, the increasing need for regulation and clarification of the set parameters for such a growing figure in today's property industry and contractual engagements, justifies an attempt to analyze and look further into this subject. This lack of legislation and the scarce infonnation available in this field in Malta, added to the difficulty to conduct this research study on estate agency practice. One finds no information in any publications available in the University library, except for about four old English books dealing with Agency law in general, which cross refer to estate agency activity. The only local information available are abstracts from articles of 'The Times of Malta', as well as recent related articles of the press, by professionals and public commentaries, which I have quoted in the process of this thesis, and which reflect some past historical background of estate agents in Malta. Furthennore, case-law dealing with estate agency is also limited and there are no judgements delivered by the Consumer Claims Tribunal in Malta dealing -with estate agents. Various encounters with experienced practising estate agents in Malta were necessary in order for information on their contemporary usages and practices to be collected. This lack of literature needed to be compensated with a research activity in the UK at the Institute of Advanced Legal Studies in Russell Square (London) and also The British Library in St.Pancras (London). Interesting information on the regulatory system under Comm.on Law as well as other jurisdictions were collected for the purpose of this thesis. Periodicals and various articles issued by the UK government departments werealso available. The use of such material, together with the interesting criticisms and insights, all contributed in helping me reach an informed opinion on this topic.