Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • D_M_E
    • By D_M_E 8th Apr 18, 11:31 AM
    • 1,824Posts
    • 64,942Thanks
    D_M_E
    Estate agents
    • #1
    • 8th Apr 18, 11:31 AM
    Estate agents 8th Apr 18 at 11:31 AM
    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"
Page 1
    • ric1982
    • By ric1982 8th Apr 18, 11:37 AM
    • 187 Posts
    • 30 Thanks
    ric1982
    • #2
    • 8th Apr 18, 11:37 AM
    • #2
    • 8th Apr 18, 11:37 AM
    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
    • By davidmcn 8th Apr 18, 11:43 AM
    • 8,539 Posts
    • 9,002 Thanks
    davidmcn
    • #3
    • 8th Apr 18, 11:43 AM
    • #3
    • 8th Apr 18, 11:43 AM
    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.
    Originally posted by ric1982
    The devil will be in what constitutes "justification".
    • googler
    • By googler 8th Apr 18, 12:10 PM
    • 14,827 Posts
    • 9,729 Thanks
    googler
    • #4
    • 8th Apr 18, 12:10 PM
    • #4
    • 8th Apr 18, 12:10 PM
    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...
    Last edited by googler; 08-04-2018 at 2:49 PM.
    • Smodlet
    • By Smodlet 8th Apr 18, 12:13 PM
    • 3,953 Posts
    • 7,195 Thanks
    Smodlet
    • #5
    • 8th Apr 18, 12:13 PM
    • #5
    • 8th Apr 18, 12:13 PM
    Only a fool will ever trust an EA, no matter how many letters they have after their names, imho, of course.
    What is this life if, sweet wordsmith, we have no time to take the pith?
    Every stew starts with the first onion.
    I took it upon myself to investigate a trifle; it had custard, jelly, soggy sponge things...
    • G_M
    • By G_M 8th Apr 18, 12:44 PM
    • 45,329 Posts
    • 54,345 Thanks
    G_M
    • #6
    • 8th Apr 18, 12:44 PM
    • #6
    • 8th Apr 18, 12:44 PM
    An EA is really just a salesman. Will car salesmen also have to hold a professional qualification?

    Actually, now I think about it.......
    • Tom99
    • By Tom99 8th Apr 18, 2:29 PM
    • 2,635 Posts
    • 1,803 Thanks
    Tom99
    • #7
    • 8th Apr 18, 2:29 PM
    • #7
    • 8th Apr 18, 2:29 PM
    What professional qualification?
    That's a pretty flaky description.
    • googler
    • By googler 8th Apr 18, 2:48 PM
    • 14,827 Posts
    • 9,729 Thanks
    googler
    • #8
    • 8th Apr 18, 2:48 PM
    • #8
    • 8th Apr 18, 2:48 PM
    What professional qualification?
    That's a pretty flaky description.
    Originally posted by Tom99
    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
    • By the_quick 9th Apr 18, 10:43 AM
    • 72 Posts
    • 41 Thanks
    the_quick
    • #9
    • 9th Apr 18, 10:43 AM
    • #9
    • 9th Apr 18, 10:43 AM
    Sooner the better, in the process of buying and incompetence of my vendors EA is shocking !
    • anselld
    • By anselld 9th Apr 18, 10:57 AM
    • 5,875 Posts
    • 5,601 Thanks
    anselld
    Sooner the better, in the process of buying and incompetence of my vendors EA is shocking !
    Originally posted by the_quick
    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
    • By Smodlet 9th Apr 18, 1:03 PM
    • 3,953 Posts
    • 7,195 Thanks
    Smodlet
    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.
    Originally posted by anselld
    Ain't that the truth? They are all going down where it's hot, the whole rotten lot of 'em, along with double glazing salesmen.
    What is this life if, sweet wordsmith, we have no time to take the pith?
    Every stew starts with the first onion.
    I took it upon myself to investigate a trifle; it had custard, jelly, soggy sponge things...
    • dunroving
    • By dunroving 9th Apr 18, 1:10 PM
    • 1,304 Posts
    • 904 Thanks
    dunroving
    Does a good EA not sometimes help to chase things up if vendor's solicitors (or vendor!) are being tardy?
    (Nearly) dunroving
    • PokerPlayer111
    • By PokerPlayer111 9th Apr 18, 1:20 PM
    • 299 Posts
    • 96 Thanks
    PokerPlayer111
    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?
    Originally posted by ric1982
    Yeah and a million other issues, really they should just have online bidding house database system. Fully open bids, anyone can snipe like ebay until bidding is over. Breaking deal after that = penalty.

    Estate agent should be for security and funds checking service + show people around and verify bidders. Assisting after deal is made also etc.

    All the sales tactics and any other shady BS from EAs is annoying and can cause deals to fail.
    • davidmcn
    • By davidmcn 9th Apr 18, 1:52 PM
    • 8,539 Posts
    • 9,002 Thanks
    davidmcn
    Breaking deal after that = penalty.
    Originally posted by PokerPlayer111
    Which just brings us back to what justifiable reasons might be for breaking. And how you deal with forming chains etc.
    • PokerPlayer111
    • By PokerPlayer111 9th Apr 18, 2:11 PM
    • 299 Posts
    • 96 Thanks
    PokerPlayer111
    Which just brings us back to what justifiable reasons might be for breaking. And how you deal with forming chains etc.
    Originally posted by davidmcn
    Got some ideas but dont really know its ugly out there.
    • googler
    • By googler 9th Apr 18, 2:28 PM
    • 14,827 Posts
    • 9,729 Thanks
    googler
    ... should just have online bidding house database system. Fully open bids, anyone can snipe like ebay until bidding is over. Breaking deal after that = penalty.
    Originally posted by PokerPlayer111
    ... which basically would be a close mirror of the Scottish system, without the online aspect controlling the process.
    • googler
    • By googler 9th Apr 18, 2:30 PM
    • 14,827 Posts
    • 9,729 Thanks
    googler
    Got some ideas but dont really know its ugly out there.
    Originally posted by PokerPlayer111
    Remind us all again how many properties you have bought and/or sold ... ?
    • PokerPlayer111
    • By PokerPlayer111 9th Apr 18, 2:59 PM
    • 299 Posts
    • 96 Thanks
    PokerPlayer111
    Remind us all again how many properties you have bought and/or sold ... ?
    Originally posted by googler
    Not until i see your IQ test results
    • ashe
    • By ashe 9th Apr 18, 3:12 PM
    • 548 Posts
    • 408 Thanks
    ashe
    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.
    Originally posted by anselld
    Whilst this is technically correct, our vendor's EA has been instrumental in getting the move done quickly. Both ours and the vendors solicitors are very reactive in nature and everything goes out in the post. The vendors EA has proactively chased the vendors solicitor for dates, responses to queries etc and acted as a go between. We'd be looking at several weeks more delay without his intervention.
    • googler
    • By googler 9th Apr 18, 11:04 PM
    • 14,827 Posts
    • 9,729 Thanks
    googler
    Not until i see your IQ test results
    Originally posted by PokerPlayer111
    I've never taken one. Over to you.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

19Posts Today

3,245Users online

Martin's Twitter