‘Estate agents are putting too many buyers and sellers under pressure to buy in-house services’

first_imgEstate agents are pressuring too many buyers and sellers into using their in-house services to source mortgages, conveyancing, surveys, insurance and EPCs, it is claimed.Campaigning organisation the HomeOwners Alliance surveyed 2,000 buyers and sellers and found that 55% had felt under pressure to buy a mortgage through the estate agent handling the sale, while 49% felt obliged to buy conveyancing services through them.The figure for surveys was slight better at 41% of buyers and sellers, life insurance at 28%, EPC certificates at 17% and home insurance at 12%.The Homeowners Alliance also says their research shows 25% of all sellers and buyers felt under pressure to use an agent’s in-house services of one kind or another, which the organisation claims indicates some 300,000 people every year, based in industry figures.“It’s not good if buyers and sellers feel under pressure to use an estate agent’s services because they are led to believe doing so will put them in a better position for securing their dream home or get them a preferential treatment by the estate agent,” says its Chief Executive Paula Higgins (pictured, left).“They should be encouraged to shop around to find the best deal.”“Any estate agent that favours buyers who use in house services are doing a disservice to their client – the seller – as well. Sellers can also lose out because estate agents have an incentive to sell a property to a buyer who is taking out a mortgage or life insurance with them rather than one that isn’t.”In March this year the Homeowners Alliance called for the government to ban agents from selling services or products to both parties in property transactions they handle, claiming it is a “clear conflict of interest”.It also claims that, although The Property Ombudsman requires member agents to declare their referral fees, “there is little evidence of this happening”.Read more stories about the HomeOwners Alliance.HomeOwners Alliance mortgages Paula Higgins surveying January 12, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » ‘Estate agents are putting too many buyers and sellers under pressure to buy in-house services’ previous next‘Estate agents are putting too many buyers and sellers under pressure to buy in-house services’Research by the HomeOwners Alliance claims over half of those surveyed felt obliged to take mortgages and conveyancing products and services from agents.Nigel Lewis12th January 201801,204 Viewslast_img read more

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