There are common misconceptions that many potential buyers often have about the property buying process, and that includes the assumption that estate agents represent purchasers as well as their clients, vendors.
A new survey, carried out by First In The Door, found that almost half – 49.2% – of respondents believe an estate agent represents both buyers and sellers.
The study also revealed that the majority of those surveyed find buying a home more stressful (35%) than selling (28%).
The top four triggers were finding the process time consuming (51%), difficulties in dealing with estate agents, surveyors and mortgage advisors (49%), chain delay frustrations (41%) and negotiating and getting a fair price (38%).
The top 10 challenges for buyers (according to the survey):
Challenges | % of UK Adults | |
#1 | Stressful and time consuming | 51.1 |
#2 | Dealing with estate agents, surveyors and mortgage advisors | 48.7 |
#3 | Delays in the property chain | 41 |
#4 | Negotiating and getting a fair price | 38.2 |
#5 | Getting a mortgage | 33.1 |
#6 | Admin | 31 |
#7 | Not sure who to trust | 27.3 |
#8 | Transactions falling through | 26.5 |
#9 | Lack of suitable housing stock | 23.6 |
#10 | Gazumping | 22.5 |
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