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Estate agents

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D_M_E
D_M_E Posts: 3,008 Forumite
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in House buying, renting & selling
Here's an article of interest from the BBC

http://www.bbc.co.uk/news/business-43688737

particularly this bit

Require estate agents and freeholders to provide up-to-date lease information for a set fee and to an agreed timetable, which will end the current situation where leaseholders are "at the mercy" of freeholders and their agents


Substitute "at the mercy" for "held to ransom"
«13

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  • ric1982
    ric1982 Posts: 222 Forumite
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    Instead buyers and sellers would be encouraged to sign lock-in agreements and face losing money if they backed out of a deal without justification.

    Think this is great initiative. I really hope they tackle gazumping issue. Anyone knows when this is coming out?
  • davidmcn
    davidmcn Posts: 23,596 Forumite
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    ric1982 wrote: »
    Instead buyers and sellers would be encouraged to sign lock-in agreements and face losing money if they backed out of a deal without justification.

    Think this is great initiative. I really hope they tackle gazumping issue.
    The devil will be in what constitutes "justification".
  • googler
    googler Posts: 16,103 Forumite
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    edited 8 April 2018 at 2:49PM
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    https://www.gov.uk/government/news/government-to-professionalise-the-estate-agent-market

    (in England and Wales, presumably..)

    "Estate agents will now be required to hold a professional qualification"

    Which ones? Everyone in the EA's office? Valuers, negotiators, admin staff? Cleaners? Or just the business owner?

    "Housing Secretary Sajid Javid said: Buying a home is one of the biggest and most important purchases someone will make in their life. But for far too long buyers and sellers have been trapped in a stressful system full of delays and uncertainty.

    (To which my response is - "change the system", but ... )

    So we are going to put the consumers back in the driving seat. We will require estate agents to hold a qualification so that people are no longer at risk from a minority of rogue agents and can trust the process when buying or selling their home."

    To my mind, the solution doesn't match the problem...
  • Smodlet
    Smodlet Posts: 6,976 Forumite
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    Only a fool will ever trust an EA, no matter how many letters they have after their names, imho, of course.
  • G_M
    G_M Posts: 51,977 Forumite
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    An EA is really just a salesman. Will car salesmen also have to hold a professional qualification?

    Actually, now I think about it.......
  • Tom99
    Tom99 Posts: 5,371 Forumite
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    [FONT=Verdana, sans-serif]What professional qualification?[/FONT]
    [FONT=Verdana, sans-serif]That's a pretty flaky description.[/FONT]
  • googler
    googler Posts: 16,103 Forumite
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    Tom99 wrote: »
    [FONT=Verdana, sans-serif]What professional qualification?[/FONT]
    [FONT=Verdana, sans-serif]That's a pretty flaky description.[/FONT]

    Are there enough qualified examiners in the country to set the examinations in such a qualification, mark them, etc. for the Govt's stated number of estate agents? I seriously doubt it.
  • the_quick
    the_quick Posts: 75 Forumite
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    Sooner the better, in the process of buying and incompetence of my vendors EA is shocking !
  • anselld
    anselld Posts: 8,280 Forumite
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    the_quick wrote: »
    Sooner the better, in the process of buying and incompetence of my vendors EA is shocking !

    If you are in the process of buying, ie offer accepted, then the EA has no role. It is down to the Solicitors.

    On which point, EA having professional qualifications is unlikely to smooth the process if Solicitors are anything to go by.
  • Smodlet
    Smodlet Posts: 6,976 Forumite
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    anselld wrote: »
    If you are in the process of buying, ie offer accepted, then the EA has no role. It is down to the Solicitors.

    On which point, EA having professional qualifications is unlikely to smooth the process if Solicitors are anything to go by.

    Ain't that the truth? :rotfl::rotfl::rotfl: They are all going down where it's hot, the whole rotten lot of 'em, along with double glazing salesmen.
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