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04/12/2006
Estate agents 'not trusted'
Estate agents are regarded as one of the least trusted professions, according to a survey by consumer association Which?.
The survey of over 1,500 adults who had ever bought or sold a property found that 94% thought that estate agents overvalued properties, while 85% thought that they also referred people to financial advisors who were linked to them.
Around seven in ten respondents said that they believed that estate agents invented offers, while 74% thought that they worked together dishonestly and 69% believed that they falsified sales particulars.
Over half of respondents (55%) said that they thought that estate agents put up false sales boards to suggest that they are doing a lot of business.
The findings resulted in estate agents being one of the least trusted professions, with only politicians being trusted less, Which? said. Doctors and teachers were found to be the most trusted professions.
However, Which? also found that the internet is helping people to avoid using estate agents by enabling them to sell their home on line. The consumer association said that around 10% of people had not used an estate agent the last time they bought or sold a property.
The survey coincides with a second vote in the House of Lords on a Bill to regulate estate agencies. The Bill would ban estate agents that refused to join an approved ombudsman scheme.
Louise Restell, campaigns project manager for Which?, said: "The internet has given birth to a wealth of private sales sites which do away with the need for an estate agent altogether and this could be the future for many home-movers.
"However, Which? is pleased to see that estate agents will soon be required to sign up to an independent complaints procedure. This means that all home-movers will finally be able to access redress without having to resort to court."
(KMcA)
The survey of over 1,500 adults who had ever bought or sold a property found that 94% thought that estate agents overvalued properties, while 85% thought that they also referred people to financial advisors who were linked to them.
Around seven in ten respondents said that they believed that estate agents invented offers, while 74% thought that they worked together dishonestly and 69% believed that they falsified sales particulars.
Over half of respondents (55%) said that they thought that estate agents put up false sales boards to suggest that they are doing a lot of business.
The findings resulted in estate agents being one of the least trusted professions, with only politicians being trusted less, Which? said. Doctors and teachers were found to be the most trusted professions.
However, Which? also found that the internet is helping people to avoid using estate agents by enabling them to sell their home on line. The consumer association said that around 10% of people had not used an estate agent the last time they bought or sold a property.
The survey coincides with a second vote in the House of Lords on a Bill to regulate estate agencies. The Bill would ban estate agents that refused to join an approved ombudsman scheme.
Louise Restell, campaigns project manager for Which?, said: "The internet has given birth to a wealth of private sales sites which do away with the need for an estate agent altogether and this could be the future for many home-movers.
"However, Which? is pleased to see that estate agents will soon be required to sign up to an independent complaints procedure. This means that all home-movers will finally be able to access redress without having to resort to court."
(KMcA)
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