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This is good news for buyers I think? does anyone have any usefull comments on this?

NAEA AND FOPDAC ANNOUNCE MERGER

The National Association of Estate Agents (NAEA) and the Federation of Overseas Property Developers, Agents and Consultants (FOPDAC) have signed a formal agreement this week to merge FOPDAC with the international section of the NAEA.

The new name is to be ‘NAEA International incorporating FOPDAC’.

Both the NAEA and FOPDAC are long established in the field of international estate agency, and are dedicated to improving the standards of those working in this specialised field.

The two organisations are both members of the European Confederation of Estate Agents (CEI) and worked together in 2005 to bring about the introduction of a new International Code of Practice, which has since been accepted by the 40,000 estate agent members of the CEI.

Ian Tonge, Chairman of the NAEA International working group, says: “This is a significant step for both organisations and I am delighted that we are now joining forces in this way. Members and consumers will be able to benefit from the combined knowledge and experience of both the NAEA and FOPDAC. Through this partnership we hope to make a further, positive difference in the international property arena.”

Des Rowson, Committee member for FOPDAC, comments: “After working for so many years to achieve the goal of both organisations making a positive move towards giving the clients ‘peace of mind’ when purchasing through a registered agent, Geoff Pilgrim the original Founder of FOPDAC in 1973 would be proud of the progress that has been made in the International market place.”

Keith Baker, Legal Advisor for FOPDAC, said: “I have worked with FOPDAC for 30 years but I am keenly looking forward to implementing the ambitious goals being set by the new combined team. This has been a very easy merger to negotiate as it rapidly became apparent how close our philosophies were.”

Peter Bolton King, Chief Executive at the NAEA, comments: “This is an important occasion in the history of both organisations as the NAEA and FOPDAC are brought together. We have no doubt that this will prove a highly beneficial union for both consumers and the industry over the years to come.”

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About the NAEA

The National Association of Estate Agents (NAEA) is the UK’s leading professional body for estate agency personnel, representing the interests of approximately 10,000 members who practice across all aspects of property services both in the UK and overseas. These include residential and commercial sales and lettings, property management, business transfer, auctioneering and land.

The National Association of Estate Agents is dedicated to the goal of professionalism within high street estate agency. Its aim is to reassure the general public that by appointing an NAEA member to represent them they will receive in return the highest level of integrity and service in both sales and lettings. Each NAEA member is bound by a vigorously enforced Code of Practice and adheres to professional Rules of Conduct. Failure to do so can result in heavy financial penalties and possible expulsion from the Association.

About FOPDAC

FOPDAC was founded in 1973 to unite those agents, developers and specialist consultants active in the international property markets. FOPDAC performs a valuable self regulatory role with stringent rules of membership.