The property industry is one of the key drivers of the UK economy – and everyone needs a home to live in. But many UK residents simply dislike estate agents as a rule.
Across the UK, estate agents fall among the most hated professions going. But is there a particular reason for this? Why are estate agents so hated? What puts the general public off workers within this vital sector?
At Property Solvers, we provide a no-obligation up front offer to buy any house in the UK. In this article, we ask the question “why do people hate estate agents?”.
A Matter of Trust
If you’re wondering why estate agents are hated – the answer usually boils down to trust.
Because a huge amount of cash changes hands daily within the property industry, there is often a question as to who sets the prices – and how.
What’s more, a lack of transparency regarding various operations can make many agent decisions appear arbitrary and motivated solely by profit.
Concerns regularly arise regarding the possibility of an estate agent:
- Overvaluing a property to win you as a client
- Fabricating false offers rather than telling you the truth (which estate agents are legally bound to do);
- Selectively abandoning the promotion of a property after a certain time on the market
- Bending the truth when it comes to the number of viewings expected
- Aggressively pushing “in house” services rather than allowing you to shop around.
Are Estate Agents Trustworthy?
One can easily be drawn in by the number of individuals declaring “I hate estate agents” without looking into the facts yourself.
No, estate agents don’t have to be trained, qualified or licensed in order to operate. However, they must adhere to certain regulations by law.
The Estate Agents Act of 1979 commands prompt, honest and fair service for both buyers and sellers of property, and compels agents to act in the clients’ best interests at all times.
The Property Ombudsman and the National Trading Standards Estate and Letting Agency Team (NTSEAT) are two bodies that oversee UK estate agents. The existence of the above regulations and organisations show that an estate agent’s world is certainly not lawless, and that there can be very real consequences for dishonest behaviour.
Do Estate Agents Lie?
Property sales is a specialist job that is often commission based. As a result, it can be tempting for some estate agents to take advantage of clients’ ignorance and use underhanded methods to boost income.
That being said, the majority of estate agents are diligent, conscientious and put the client first. However, the fear of being duped is still very much alive in the British public.
Problems can and do arise during the purchase or sale of a property. When this occurs, there is a tendency for those who lose out to blame dodgy dealings or laziness on the part of the agent. Whether they are right or wrong to do so depends on the particular circumstances.
Should I Buy or Sell Through an Estate Agent?
Generally speaking, using an estate agent for your property transaction will be totally safe.
For a smooth process, and to avoid using the rare dishonest agents, you can:
- Undertake background checks
- Study their track record and back catalogue
- Read online reviews
- Shop around
- Check the license and qualifications of your estate agent
- Communicate with friends or family who have used them before
- Read up on the duties of an estate agent
- Study the regulations in the Estate Agents Act of 1979
- Keep in regular contact with your estate agent
- Ask your agents to back up any claims and major actions in writing
- Check that an agent can back up information about rival offers (if you’re buying)
- Be present for as many viewings as possible (if you’re selling)
- Don’t let yourself be pushing into using “in-house” services like mortgage brokers
- Stand your ground throughout the process
Keep the above suggestions in mind at all times when interacting with estate agents. In most cases, such diligence and wariness will not be necessary. However, it is always better to be safe than sorry.
If you don’t want to risk selling your property through an estate agent, consider opting for a quick home sale firm like Property Solvers instead.
We buy any house for a pre-arranged up front cash offer. You won’t need to wait for viewings or negotiate offers with buyers. You won’t need to pay any agency or legal fees. We can close in as little as a week. Even better – you could receive up to 75% of the property’s market value.
We also offer our own no sale, no fee auction and estate agency services. This features no ties in contracts, with guaranteed completion times varying between
For further details and advice, contact Property Solvers today. We’ll be happy to provide you with all of the information and assistance required.