Six in ten UK home sellers say they felt restricted by estate agent contracts, according to a survey of 1,000 people who sold a property in the past five years.
The poll found 62% felt tied to a single agent, while 47% said they had signed sole agency or sole selling rights agreements.
Costs were also a concern. A quarter of respondents said fees were unfair, and 28% reported paying extra for premium listings or upgrades, rising to 50% in London.
Nick Neale, director of Emoov, which carried out the research along with OnePoll, said: “Too many sellers are still being tied into contracts they do not fully understand, facing extra costs they did not expect, and feeling pressured during key decisions.
“The industry has improved in some areas, but these findings show there is still a clear gap when it comes to transparency, flexibility and control. Our findings suggest that sellers are increasingly questioning the traditional model and looking for more transparent, flexible ways to sell – without long tie-ins or hidden fees.”
Younger sellers were more likely to report pressure and additional costs. Among Gen Z respondents, 51% said they felt pressured by their estate agent when discussing changes to their asking price, compared with 39% of Millennials and a national average of 34%. More than one in five in both groups said they encountered hidden fees.
Overall, 52% of respondents rated property marketing and photography as “good”, falling to 40% among Gen Z sellers.
There were regional differences. In London, 63% said they were required to sign a sole agency agreement and 50% reported paying extra for listings or upgrades. In Scotland, 27% said they were tied into such agreements, while in Wales 13% reported additional fees.
Most respondents reported positive experiences in some areas, with 88% saying their home was accurately valued and 73% satisfied with communication during the sale.
There is nothing wrong with sole agency or sole selling rights agreements (EMoov – learn the difference!) if they are for a fair period of time, such as 6 to 8 weeks. An estate agent spends an inordinate amount of time and money marketing a property initially, if they are doing the job properly, which the seller pays nothing for. He/she will make sure they do their utmost to find a buyer during that period and to secure the trust of the client in case a buyer is not forthcoming.
In the days when multi-agency was common, most agents gave properties a quick burst, but if serious interest was not shown quickly and we knew the other agent/agents were having more success with viewings, we put those properties on the back-burner in favour of our loyal sole agency/selling rights clients.
It’s a double-edged sword doing away with sole agreements.
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A fair initial tie-in period is perfectly acceptable. Utility companies do it, mortgage companies do it, insurers do it. Why should it be any different for estate agents? I know of one in my area that states that if it is sold within a certain period (I think 6 months?) of coming OFF the market with them, they will still want their fee. Now that is unfair… Also not sure how enforceable it is…
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