Why you should use a local independent estate agent and solicitor

You may have seen the Panorama ‘undercover estate agent’ episode this week. If you haven’t, it is well worth a watch:

(https://www.bbc.co.uk/iplayer/episode/m002fygs/panorama-undercover-estate-agent)

The investigation exposed a practice known as ‘conditional selling’ where the UK's largest national estate agent is alleged to have prioritised their own commercial interests at the expense of their selling client, and to the detriment of potential buyers. Also exposed, was another 'online' agent who stands accused of routinely overinflating valuations.

Some of the alleged behaviour, which was at best entirely unethical and unprofessional, and at worst, potentially illegal included the following:

• Pressure-selling of their own 'in house' conveyancing and mortgage broker services.

• Compiling a list of 'hot buyers' who were signed up to those services. Those buyers were then given preferential treatment when looking to book viewings and offers were put forward more favourably.

• Restricting marketing activity and stopping viewings taking place so they could secure the deal with their preferred buyer, potentially denying their seller the chance of securing a much higher price.

• Requesting and obtaining confidential financial information from their in house mortgage broker to find out exactly how much a client could really afford to offer.

• Overvaluing properties to secure an instruction, then financially incentivising staff if they got enough of their sellers to reduce the asking price within just a few weeks of marketing.

You may quite rightly be shocked that this sort of thing goes on. The sad reality, however, is that we and many other decent agents we work with aren't at all surprised. The problem is definitely not limited to the two estate agents featured in that documentary. I too have experienced this kind of behaviour both personally, and seen it professionally.

Perhaps when you are looking to sell your property, and thinking of using a national chain rather than a local independent agent, give some thought as to whether they are the best agent for you. Whilst an online agent may appear to be cheaper, and offering a low 'fixed fee' are they really doing their very best to get the best possible price for you, or do they just want it off their books asap to boost their figures for minimal work?

If you are a buyer, and the agent is trying to pressure you to use their in house mortgage broker or conveyancing solicitor, do not feel obligated to do so. Get a quote from at least two local solicitors and remember you are paying for a service on one of the most important and expensive purchases of your life. The quote that looks the cheapest isn't always as they often tack on extras in the small print, and do you really want someone you'll struggle to get hold of who is churning work out at high volume? There is a reason throughout our careers that we refused to join the conveyancing panels operated by certain estate agents.

We work with many local agents, and are pleased that they recommend us because of the service we offer clients. We are also happy to recommend a number of surveyors and mortgage brokers we work with, who we know will look after our clients and do a good job. We have never accepted, and never will accept, any financial incentive for recommending clients to third parties - a recommendation should be based on quality of service, and should never be forced on a client.