What are your thoughts on Estate Agents? (no swearing please)

[MikeJ]

Estate Agents Act 1979.
http://www.legislation.gov.uk/ukpga/1979/38

 

[MikeJ]

National Trading Standards Estate Agency Team.
http://www.powys.gov.uk/index.php?id=1084&L=0

 

[BTON Agency]

Suit on the run, sorry but you are showing what most show and that is a complete lack of understanding of the industry and falling into stereotypes.

I too have worked in F/S and other than a "qualification" and extortionate membership fees there really is no difference.

1. Advertising and marketing must be accurate, That is covered by ASA, NTSEAT and Estate agents act. = Regulation is in place.

2. Believe it or not gazumping and gazundering are not promoted by agents, it delays the sale. Nothing more annoying that a reneg on price. Does not come from agents comes from sellers and buyers. Not sure your point on the letting people know if a property is about to go? - It happens in all walks of life DFS sale "reduced this week only", Mortgage advisers "Limited time this rate is available"

3. All agents have to respond to a complaint within 7 days. If that is not satisfied the complainant can then contact the redress scheme which by law the agent must give out the details to (i believe redress schemes do publish the result monthly).

4.Timelines - This is 9/10 times the issue of conveyancer or in case of leasehold properties the management companies. Nobody wants a sale through quick than an agent, believe me!

I think your anger (and others) are misdirected its not estate agents fault its the house buying process that is at fault.

 

[suitontherun]

My view doesn't stem from a bad personal experience. The lack of confidence and calls for better regulation are country wide.

To begin, December 2014 - Professional Survey by IPSOS/MORI.. sample size of over 1,000 across the UK. Significant.

Result: 22% of the population trust estate agents to tell the truth. Only politicians fared worse.

Google it if you don't believe me. ( I cant post links)

Even RICS, the Royal Institute of Chartered Surveyors who represent the industry, have been pushing for more comprehensive, uniform, compulsory regulation. At the moment its just a mess, a mix n'mash of outdated laws and voluntary codes. In a survey that RICS carried out a few years ago they said 91% of homebuyers wanted better regulation and RICS themselves referred to a "shocking lack of consumer trust" in the estate agency profession.

And to wrap it up.. from an actual estate agent magazine, estateagenttoday.co.uk. In an article titled "Why do estate agents have an unfavourable reputation amongst the public? " they quoted Robert Nichols an MD of London based estate agency, Portico:

"This unfavourable reputation is also down to the bad estate agents who are letting the whole profession down. Unlike property surveyors, estate agents are not bound by an institution, or recognised for an industry level of professionalism.

That means that almost anyone can set up an estate agency, and unfortunately, many do, without any experience, or knowledge of the industry. Yes, we have The Property Ombudsman, but they can only give out fines and can’t actually stop someone operating as an estate agent, even if service is way below par. "

So maybe everything isn't quite rosy. Maybe the industry, for its own sake, to halt the flow of cheap websites and a clear 'race to the bottom' , should clean out the unprofessionalism.

p.s. I'm not suggesting all estate agents are unprofessional - I know some great agents but the industry does have problems.

 

[Toby Willows]

Well nobody probably gives a monkeys but here's my experience.

A good estate agent is worth their commission. About ten years ago (oh by the way forgive spelling, grammatical errors I feel this is going to be a long post done on my phone!) we sold a house and moved into rented while we built our own home. Estate agent one gave the highest value with promises to sell it in weeks (yes, I know). Left it with him for six months as he was kind of a friend. Shed load of viewings, he was sending anybody and everybody. Not one offer.

After six months moved to agent two. He valued the property at about 5% less but after the second viewing (within two weeks) we had a full asking price offer. What he actually did, which agent one didn't, was match buyer to seller, he didn't even have to advertise it anywhere, not even Rightmove. He took the trouble to know what his buyers actually wanted.

Agent two also sorted out our short term rental (eighteen months). This was a property that was only just available, and totally suited to our needs, right location, pets allowed and right size. Without him no doubt we would have missed out and the landlord would have waited longer to let the place. On top of this he waived his incoming tenant charges.

Now I'm pretty sure the likes of Purple Bricks can't offer this service. So find the right agent and you'll save so much time and grief, and be happy to pay their %

Oh, both are one or two office independent agents.

 

[BTON Agency]

Suit on the run, again sorry but you are falling into using stereotypes. You admit it yourself it is not from experience just what you perceive.

Ask yourself why RIC's (or the NAEA) are pushing for regulation? - The reason is both RIC's and NAEA campaign for regulation as they will most likely be the ones looking to run it and more importantly profit from it. Imagine the £ coming in charging circa 30,000 branches £3,000 p.a. (My crude maths makes that £90m p.a.!) on top of making their own qualifications mandatory. - And again i ask you what could they change to regulate the industry? - Its not like there is a magic law they pass to change anything.

Your wrapping it up saying that an M.D. of an estate agents thinks regulation is a good idea holds no water, I am an M.D. and think its a bad idea along with many others!

As for qualifications, we are bound by many laws what qualification would you be looking for from an estate agent? - We do not have any legal dealings we introduce a buyer to a seller and act as a middle man to to oil the cogs.

Again i put it to you that the public are not actually upset with estate agents they are upset with the house buying process two very different things. And unfortunately as you have aptly demonstrated the public are not willing to be educated or helped. They would rather look for an easy point to blame.

The one thing i do agree with you on is the race to the bottom, cheap agents - But when you yourself see little benefit in an agent and i am guessing you would probably be tempted by a high price cheap fee (as all agents are naff) what chance is there for the public!?

 

[Tin]

If estate agents are already wrapped up in legislation I'm not seeing any evidence of it at my end. A leading estate agency down in the South West of the UK manage to keep providing a lousy service to a family member who's trying to sell her property. Lousy communication on behalf of the estate agent is only a small portion of the problems faced.

When I tried using estate agents to sell my property I got two full price offers for it from two different couples. On both occasions my estate agents delays caused a breakdown in communications which led to both parties pulling out. I created a simple 6 page website, seo'd it and got a sale within 2 months for more than the asking price.

I'm looking for building land at the moment and am sick of seeing estate agency photographs that depict the view in the distance and not the building plot itself which, last week when I went to Wells, in Somerset, the plot of land was a tiny stone area yet everyone of the estate agents photographs were suggesting the plot was something it wasn't. If they're regulated then someone needs to let them know.