Which? Campaigns: Move It Campaign

People have little confidence in estate agents: only 1 in 10 of the people we asked thought that they could usually be trusted. And the current situation means they're right to be suspicious.

Which? is pleased the Government has finally acted to reform the estate agency industry. The Consumers, Estate Agents and Redress Bill will require all estate agents to belong to a statutory ombudsman scheme, whether or not they belong to one of the trade bodies.
A woman looks at property in the window of an estate agent.

This is not before time. Our research in June 2006 showed that over eight in ten people think the government should set up an independent body to deal with complaints about estate agents within the next three years – 43 per cent thought this was urgent and it should be set up in the next 12 months.
What's the problem?

Buying a new home is likely to be the biggest financial transaction of our lives, and most of us don't do it often enough to know exactly how it should work.

It's not easy to tell if you're being duped by an unscrupulous estate agent, and if you are, there's not always that much you can do about it. At present, barely a third belong to any kind of recognised trade body, and even these provide you with little protection when things go wrong.

What consumers think

Buying or selling a home may be one of the most stressful experience of our lives, so it’s vital estate agents are good quality. But at the moment the system is not working for consumers because enforcement is weak and redress is inadequate and patchy.

There is also a widespread lack of consumer confidence in the industry, which is worth over £4 billion and comprises 1.8 million transactions a year. Our research shows that 70 per cent of people think estate agents frequently give misleading information about properties and that they frequently work with property developers to line each others’ pockets. Less than half think estate agents pass on all offers to vendors or keep them well informed. Less then half were always happy with the service they received, with 14 per cent saying the estate agent incorrectly described the property and 12 per cent saying they put too much pressure on them.
Our campaign: time to 'Move it'

We think it's time that estate agents were properly regulated. They should be licensed by an independent body, and an effective ombudsman scheme is needed, so that when things go wrong, you can get justice without going to court, and dishonest traders can be put out of business.

Following the high profile launch of our Move it campaign in April 2004, the Government rapidly back-tracked on its 'no action needed' stance and agreed to require all estate agents to be a member of an independent redress scheme. This was a massive victory for all home movers.

The long-awaited Consumers, Estate Agents and Redress Bill will at last make it mandatory for all estate agents to belong to a redress scheme, meaning consumers will have a quick and easy way of resolving their complaints.

We also support the provisions in the bill toughen up the enforcement and inspection powers of Trading Standards and the Office of Fair Trading. However, we still do not think this goes far enough and believe there should be full regulation of the estate agency industry, including proper training for estate agents, to prevent the widespread problems occurring in the first place.

Article kindly supplied by www.which.co.uk