Why aren't properties advertised with all the key facts?

RedRuby_2 · 10 May 2018 at 2:28PM

After coming off of a sale falling through, I'm tentatively dipping my toe in the market again.

This time I'm much more wary when looking at properties online and its really annoying me that a lot of properties are marketed without the relevant facts displayed.

I think it should be mandatory for marketed properties to display

If they are freehold or leasehold

If leasehold, how long the lease is and the number of years remaining.

How much the service charges are

How much the ground rent is

Council tax band

A floorplan with detailed measurements

What floor the property is on

The number of ads I've seen where this basic information isn't listed or they are awaiting this information is ridiculous. It just makes it easier all round if this information is displayed prominently so I can assess if it is suitable.

ReadingTim · 10 May 2018 at 2:39PM

Because property adverts are just that - adverts. Sales literature designed to highlight the positives of a product, not its negatives. Furthermore, whilst there are regulations etc as to the inclusion of information which is inaccurate or misleading, there is nothing similar relating to the omission of said information.

You seem to think that what's best for the buyer is best for the seller - that's not always the case.

agrinnall · 10 May 2018 at 2:48PM

Because there's no such thing as the property advertising police to enforce such rules, and even if there was why should it be your list of rules that is enforced rather than somebody else's? As the prospective purchase it is in your interests to do your own due diligence.

NaughtiusMaximus · 10 May 2018 at 2:49PM

IMO EAs are shooting themselves in the foot when the omit basic info like this.

When we came to sell our house last year, one of the main criteria we used in reducing the myriad of available EAs down to a shortlist of 3 or 4 from which to get a quote was the quality of their existing and recent listings.

ReadingTim · 10 May 2018 at 2:57PM

NaughtiusMaximus wrote: »

IMO EAs are shooting themselves in the foot when the omit basic info like this.

In which case, you don't understand the role of an agent.

Whilst an EA can draft a property ad, only the vendor can approve it. Furthermore, in many cases (eg length of lease) only the vendors know the information anyway. An agent can request info and suggest it's included, but if the vendor doesn't know it or fails to supply it, and is happy with what someone might regard as a substandard or incomplete advertisement, then the fault lies squarely and completely with that vendor, not their agent.

dunroving · 10 May 2018 at 2:59PM

It is frustrating that basic information such as a floor plan aren't provided but consider how much easier it is now that just 10 years ago, and especially compared to 20 years ago. At least these days you have tools like Google Maps and Streetview, and online photos. In the old days you could drive miles to a viewing and as you drive up to the house, be thinking, "Oh, cr*p", whereas now you can eliminate the "oh, cr*p" ones a lot earlier and easier.

So, things could be a lot worse, and we should be thankful for small mercies.

NaughtiusMaximus · 10 May 2018 at 3:24PM

ReadingTim wrote: »

In which case, you don't understand the role of an agent.

Whilst an EA can draft a property ad, only the vendor can approve it. Furthermore, in many cases (eg length of lease) only the vendors know the information anyway. An agent can request info and suggest it's included, but if the vendor doesn't know it or fails to supply it, and is happy with what someone might regard as a substandard or incomplete advertisement, then the fault lies squarely and completely with that vendor, not their agent.

Unless they have an uncooperative vendor, a competent EA would not draft a substandard or incomplete advertisement in the first place.

I accept there are some vendors who would choose not to state if a property is freehold or leasehold and if the latter may not want to disclose on the listing the length of the remaining lease or details of charges/fees. There are possibly also a few who may refuse to allow an EA to take measurements, take photos of every room or produce a floorplan but when the vast majority of their listings omit these details, the only logical conclusion is the EA aren't asking the vendor for this at all.

moneyistooshorttomention · 10 May 2018 at 3:42PM

I can only agree that these items should be there listed clearly right at the outset.

Why waste anyone's time having to find out such basic stuff?

It is beyond time the Government legislated on minimum standards of what must be stated at the outset.

Otherwise - if nothing is said about any of these details, then obviously the buyer "knows" the property is freehold, in a standard (ie Council-maintained) road, no service charges, etc - as they haven't been told otherwise and so therefore will assume The Norm applies.

ReadingTim · 10 May 2018 at 3:45PM

NaughtiusMaximus wrote: »

Unless they have an uncooperative vendor, a competent EA would not draft a substandard or incomplete advertisement in the first place.

I accept there are some vendors who would choose not to state if a property is freehold or leasehold and if the latter may not want to disclose on the listing the length of the remaining lease or details of charges/fees. There are possibly also a few who may refuse to allow an EA to take measurements, take photos of every room or produce a floorplan but when the vast majority of their listings omit these details, the only logical conclusion is the EA aren't asking the vendor for this at all.

No mate, the only logical conclusion is that you're completely unaware of the principle of caveat emptor.

Cakeguts · 10 May 2018 at 3:46PM

If the seller is a relative of an old person they might not know if it was leasehold or freehold or which council tax band it was in. I wouldn't have been able to tell you any of that if I had been selling an aunt's house or my grandmother's house all the information would be sorted out in the searches.

RedRuby_2 · 10 May 2018 at 3:55PM

ReadingTim
Because property adverts are just that - adverts. Sales literature designed to highlight the positives of a product, not its negatives. Furthermore, whilst there are regulations etc as to the inclusion of information which is inaccurate or misleading, there is nothing similar relating to the omission of said information.

You seem to think that what's best for the buyer is best for the seller - that's not always the case.

I'm not asking for a list of subjective faults about the property that the seller would want to hide. Just facts that will will be asked for anyway. Facts that would be best for both parties to know, that way the seller won't get any time wasters and the buyer won't waste time inquiring about an unsuitable property.

agrinnall
Because there's no such thing as the property advertising police to enforce such rules, and even if there was why should it be your list of rules that is enforced rather than somebody else's? As the prospective purchase it is in your interests to do your own due diligence.

A property sale is in the interests of all parties involve. The seller wants to sell , the buyer wants to buy and the EA gets commission for the sale. Its in everyone's interest to lay all the facts on the table. If you are selling a property then guess what its time to dig out all the paperwork and information from when you bought and say how long the lease is, how much your service charge is, buildings insurance etc. These are things you can't hide if you truly want a sale so why omit them?

Estate Agents when they are advertising a property surely ask for the details of the property, 'earn' their fee and commission by doing a floorplan taking photos etc. They want a sale to go through so why wouldn't they market it fully. If they omit details, they just end up with people calling and asking these questions and not bothering to view.

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Why aren't properties advertised with all the key facts?

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