Estate agents are finally being cut some slack by one of their usual critics, consumer watchdog Which?
The organisation often focuses on ‘rip-off’ commissions in the sector but now a survey by its broking arm actually paints agents in a positive light.
Research by Which? Mortgage Advisers looked at the biggest issues reported during the home buying process and found that two in three experienced problems.
But while conveyancers and removal firms get highlighted as causes of problems, there is no mention of estate agents causing issues.
The most common problem was delays caused by others in the chain, which was reported by one in five – 19% – of those surveyed.
Almost a fifth claimed that they found it difficult to find a suitable property, and 13% said the property they bought was left in poor condition or with unexpected furniture.
The poll of 2,000 buyers by the mortgage broking arm of the consumer watchdog, showed 12% had experienced issues on completion day and one in ten had a problem or delay while getting a mortgage.
Other problems cited were due to the removals company, the conveyancer and the surveyor, but estate agents don’t seem to be specifically named among the concerns.
David Blake, principal mortgage adviser at Which? Mortgage Advisers, said: “Moving home can be time-consuming, stressful and expensive. While there are some problems that are out of your control, there are some things you can do.
“Clearer communication and opting for well-respected mortgage advisers, removal companies and conveyancers who are able to work to your timescales can all help to give you a smooth move.”
““Clearer communication and opting for well-respected mortgage advisers, removal companies and conveyancers who are able to work to your timescales can all help to give you a smooth move.”
…that and having an agent who has the skills, knowledge and experience to help effectively identify and resolve issues both potential and actual.
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Chris – I read on here recently that you were presenting to a group of investors with stats based on trsditional/online effectiveess and I’d assumed some coverage would follow on PIE, but I haven’t seen anything. Is there anywhere I can access your presentation?
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I think there are many readers who were expecting to read something juicy this week.
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I’m having to keep my powder dry, I’m afraid. However, you may want to tune in to BBC Radio 5 on Sunday.
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I want to move home tomorrow so which mortgage broker, removal company or conveyancer can work to my timescale?
The truth is that the process has an inherent timescale and those who wish to buy and sell need to understand that. For the buyer and seller to understand it all the advisers and practitioners must first understand the timescale and explain it clearly instead of making it up and blaming others.
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True, i doubt many (if any) will get you moved tomorrow.
But 6 – 8 weeks on a straight forward freehold property with only a couple of links should be more than acheivable.
The standard sale takes 12 – 14 weeks which is madness.
I cannot speak for your firm, but too many conveyancers, take on too many cases and they are far too reactive as oppossed to proactive.
We have a chain at the moment where the agent behind us has recommended a conveyancer. This conveyancer will not accept calls or respond to emails. Not just from us but the agent that recommended them!
The other 7 properties in the chain are ready to exchange (over a week now) and we cannot get an update on the link that is holding up exchange. Even their own clients cannot get an update!
Sadly this is not uncommon. Every chain we are involved in always has at least one conveyancer holding up the process.
In my opinion conveyancers need to been governed much more tightly and if they are seen to cause undue stress to their clients they need to be held accountable.
If we lose the poor conveyancers from the industry it allows the sales to become much smoother.
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Unless key release times are sorted out the public will end up with no ‘respected’ moving firms.
Eg. Yesterday, 2 customers didn’t get key release/front door open until after half past three.
Exactly how is it acceptable that conveyancers and EA’s are content for this?
2 families, 1 with young children had moving day wrecked. Not moved in until early evening and a 12hour day.
Moving company staff, most with families and children working 13hours through no fault of their own because ‘professionals’ couldn’t be bothered to do their jobs properly nor comply with the very contract they themselves either wrote, or expect to be upheld.
Separate customer moving today STILL not exchanged. Selling to a first time buyer. We’re just waiting for gazundering to occur.
It won’t be logged for what it is though (gameplaying and tactics) and won’t be considered that exchange&complete same day allows for huge stress, money loss and monstrous inconvenience. It would just be logged as ‘buyer pulled out’ . Despite the 11th hour price drop.
Plus of course, as it’s exchanging and completing same day we’re once again braced for late key release.
——–
Poor advice and practice once again from everyone involved from when the board went up ……
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You’ll have to enlighten us on how Estate Agents have an impact on the time of day the house sale completes?
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No problem.
Taking 40 minutes to actually call the customer even after the solicitor has told you funds are through.
Or, failing to properly chase on the day. In fact, doing sweet FA but telling the customer to ‘be patient’ when you should be asking the right questions, of the right people and chasing from @11:30 constantly in order to assist your client in getting what they’re contractually entitled to. That being keys, to their new home, at their new home as per the contracted time.
Also, if EA’s (and I accept this isn’t strictly your fault) told clients how moving day should work it would help. I.e out by the contracted time, in full. To save moving firms turning up and finding ignorant people with a transit on the drive who ‘didn’t realise’
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Actually i would agree completely on one point, educating people on how moving day should go. Once contracts are exchanged i talk to both buyer and seller about how the day should pan out, responsibility for keys etc, and ideally understanding their needs to be a little bit of give and take if the chain is fairly lengthy. Generally the only time we have problems on completion day is when a vendor is moving themselves, and takes 3-4 runs to move out and is being ” a bit funny” (IE a t*** about releasing keys)
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From the moment a person wants to buy a house, you can have the following to blame:
Estate agent – opts out once they issue their Memo of Sale, and simply call for ‘updates’ offering nothing to help
Mortgage Advisers – not quick enough with the paperwork, and offering poor communication
Conveyancers – no legal qualification or 10 years+ experience, so the client stands no chance (and yes you can forward the money on even if your client is not yet out! )
Mortgage Lenders – slow to process the mortgage, and not all will allow the conveyancer to release the money a day early
Removals – not flexible enough, charging full fee for late cancellation. Incorporate better insurance into your work/fees to avoid unnecessary whinging.
The system – a chain of moving people will mean money sent at 9am will slowly make its way along, as lawyers and banks have to be available and communicate
(a lawyer’s contract typically refers to 1pm or 2pm…but that is ONLY the time for the money to arrive to avoid interest. It is NOT the time for completion. There is NO time for completion, only a DAY…so they have until 11.59pm…technically)
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I love the solicitors firms who when you ring chasing up completion tell you they are closed for lunch and no one will be available until 2:15
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It should be law that estate agents can’t ringa solicitor…be like working at purplebricks then
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Removals – not flexible enough, charging full fee for late cancellation. Incorporate better insurance into your work/fees to avoid unnecessary whinging.
Really?
So, you’ld like firms to have a business model that accounts for poor service by conveyancers? You’d like us to develop business models that allow us to pay salaries despite no work at late notice only because the combo of EA and conveyancer is providing awful service, unfair expectations and unfair lack of notice?
Love it.
‘We can’t change how **** we are, please could you develop a business model to cope?’
Brilliant!
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(a lawyer’s contract typically refers to 1pm or 2pm…but that is ONLY the time for the money to arrive to avoid interest. It is NOT the time for completion. There is NO time for completion, only a DAY…so they have until 11.59pm…technically)
Can of worms.
So, you’re happy then to advise your client that they do not have any reasonable right to move into their new home on the day of purchase?
So, Tim Higham is on the record stating that any member of the public buying a new home has no right to expect to move in on the day they pay for it.
(you’ll note there is no question mark above)
Wow.
And which firm are you again?
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And……
If the time in the contract is ‘the time funds should be through by’ then why is this not happening anywhere near enough?
Conveyancers / C-solicitors can’t have it both ways.
Either the time in the contract means something, or it doesn’t.
If it does, why can’t you stick to it?
If it doesn’t, fine. Are you happy for moving firms to state they’ll no longer bother starting work until midday? That way we can just have the customer out by half three, in by eight. A proper 8-9 hour day.
Afterall, if the time in the contract doesn’t mean anything we don’t have to bother getting the client out by then.
That is what you just said, Tim, very clearly.
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I will refrain from once getting on my ‘soap box’ and commenting / ranting regarding this. This is my biggest frustration being an estate agent for many years now.
All i will say is, we all know where the blame lies. But it will never change due to the attitudes of the professions.
Until certain people can look in the mirror and admit they have a problem nothing will ever change.
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Silence is effing deafening
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You ok hun ?
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I am worried for you mattfaizey. When did you last take a holiday?
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Holiday?
Crikey no, I’d be bored
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Purchasing or Selling a home is not an Amazon style transaction.
Clearly there are multiple professionals involved however we can’t simply kick the Conveyancers/Legal Profession.
I see 1st hand the difficulties encountered in exchanging/concluding a sale (our estate agency is part of a Legal Firm) and as much as we the estate agent most often put a tremendous amount of work to present a sale transction capable of moving through the legal process, quite frankly I am glad that the legal side is not my responsibility.
Lets remember we are dealing with large sums of money/loans/security for loans etc etc… so there is and always will be a level of complexity reflecting that our business is not an Amazon/Ebay style transaction.
Sure, we can all improve different aspects/processes, however, try and appreciate/understand that the legal process to get to a Date of Entry/exchanging funds is far from a few letters & emails.
The dumbing down of the house sales process by the £1000 Online Johnnies masks the actual work involving real estate agents, the legal professional, financial advisors etc.
If I’m spending £100,000, £250,000, £500,000 etc I can live without clicking “Buy” and having my New Home delivered the next day – it’s a serious business with sizable finances involved, lets get it done properly rather than simply conveniently.
We’re NOT selling Creme Eggs even although the Online Johnnies think they are! It’s why Johnnie & Co love to take they money & run!
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‘mattfaizey’
Lots of words in your above posts. I agree wholeheartedly with the ones below:
“…you’re…”
“…effing…”
“…deluded…” *
* Please note that the word “deluded” is actually a structured re-working of letters taken from several other words contained within your rantlets – as you had not posted the actual word yourself.
It’s okay though – I found them anyway.
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Argue the points.
If you can.
That you haven’t likely speaks more about you.
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Mr faizey
There is so little “to argue” that my own post speaks the volumes that your volumes are devoid of.
Take the advice of at least one poster on here.
Take a holiday.
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I am wondering how many years experience you posters have?
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“Experience” of what, precisely?
And how’s about you start the ball rolling with your “experience” in whatever you are referring to??
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Estate Agency. I have 34 years in the game.
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