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MRI Overseas Property withdraws from NAEA

MRI Overseas Property, which has its Cyprus offices in Paphos & Larnaca, issued the following press release issued on 21 August: Leading Real Estate Company Withdraws from UK Trade Body over Impartiality Concerns A leading real estate company has withdrawn its membership of the UK’s National Association of Estate Agents (NAEA), due to concerns that […]

MRI Overseas Property, which has its Cyprus offices in Paphos & Larnaca, issued the following press release issued on 21 August:

Leading Real Estate Company Withdraws from UK Trade Body over Impartiality Concerns

A leading real estate company has withdrawn its membership of the UK’s National Association of Estate Agents (NAEA), due to concerns that the body is be being used as a platform for libellous comments against it.

MRI Overseas Property, the largest overseas real estate firm in Europe, announced the move today having been refused the adjournment of an NAEA hearing.

The company says it requested the adjournment in order to collate and present evidence that it claimed would bring into question the “motivation and good faith” of the complainants.

It also wanted sufficient time to collate this evidence in order to instigate legal action against the perpetrators.

Dominic Pickering, the company’s chief operating officer, said:

The NAEA took the wholly unreasonable decision to proceed with this hearing, despite being informed of the very serious matters we have uncovered. They have not been able to provide us with any justification for this approach.

As such, and given that the NAEA claims to represent the interests of its members, I am simply at a loss to understand how they can consider it appropriate to deprive us of a fair hearing in this way.

In the circumstances, I have entirely lost faith in the processes and authority of the NAEA, and I have regrettably concluded that we can no longer remain associated with them.

He added: “The NAEA has sadly failed to demonstrate its impartial position, and even after it was provided with information showing its failings, it refused to correct the situation.

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