Don't trust estate agents, what should we do?

do you trust your agent to work in your best interests?

  • yes, I trust them and they will always do the best thing

    Votes: 0 0.0%
  • No, they are so desperate to save their industry they will do whatever they need to

    Votes: 30 100.0%

  • Total voters
    30
  • Poll closed .
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there are no laws, regulations or standards they must obey. NONE!
 
there are no laws, regulations or standards they must obey. NONE!
That's a very misleading statement.

Whilst there are no laws specifically governing estate agents, they have to obey ALL all aspects of English law, just like anyone else does. Particular ones that come to mind are the laws of Contract, Negligence, and the Supply of Goods and Services Act.

Since the above Act requires a supplier of a service to act with reasonable care and skill, it's reasonable to argue that any industry codes of practice should be adhered to. Since a code of practice is provided by the NAEA, it's simple enough to argue that a failure of a residential estate agent to act in accordance with the code, if the failure materially affects a consumer, and if no reasonable explanation for the failure is forthcoming, is a breach of the Supply of Goods and Services Act.

FYI, there's also a code of practice published by the OEA, who offers a service that is free of charge for the public.
 
just a thought

if she is behind on her mortgage payments could the lender not block the sale at the wrong price!!!
 
I've some info for anyone with similar problems with their agents..........

Estate Agents Act

This information is for people who are working as an estate agent. It tells you what you must do to meet your legal obligations.

The Estate Agents Act 1979 regulates your work as an estate agent. Its purpose is to make sure that you act in the best interests of your clients, and that both buyers and sellers are treated honestly, fairly and promptly.

Why this information is important:

* if you don't comply with the law, you could be banned from working as an estate agent
* if you ignore a ban, you could be prosecuted and fined.

http://www.oft.gov.uk/advice_and_resources/resource_base/legal/estate-agents-act/

also more to follow.................... if anyone has feedback I'd like to hear it?
 
http://www.berr.gov.uk/whatwedo/consumers/fact-sheets/page38024.html


Regulation of Estate Agents Quick Facts

Relevant or Related Legislation:

Estate Agents Act 1979 and Property Misdescriptions Act 1991.
Consumers, Estate Agents and Redress Act 2007 (CEARA)

Current Position:
All estate agents in the UK who engage in residential estate agency work are now required by order to belong to an approved redress scheme dealing with complaints about the buying and selling of residential property. This and other measures to improve the regulation of estate agents came into force on 1 October 2008.

Key Facts:
• Estate agents have to comply with the Estate Agents Act 1979 and the Property Misdescriptions Act 1991 when they act for persons who are buying or selling property.
• The Office of Fair Trading can ban persons from acting as estate agents if it considers them to be unfit to carry on estate agency work.
• Complaints about estate agents should be directed to local Trading Standards Departments or the Office of Fair Trading. Advice on how to pursue a complaint can also be sought from Consumer Direct.
• The Government is committed to reforming the home buying process in England and Wales. Sellers are required to provide Home Information Packs (HIPs) when putting homes on the market.
• The Government is taking forward measures to improve the regulation of the estate agency market in the Consumers, Estate Agents and Redress Act 2007, which received Royal Assent on 19 July 2007.
• All estate agents in the UK who engage in residential estate agency work are now required to belong to an approved redress scheme dealing with complaints about the buying and selling of residential property.

Frequently Asked Questions (FAQs)

Q1. Are estate agents regulated?
Q2. What should I do if I have a complaint about an estate agent?
Q3. What is the Government doing to improve the home buying process?
Q4. What is the Government doing to improve the regulation of estate agents?
---------------------------------
Q1. Are estate agents regulated?

Estate agents are regulated by the Estate Agents Act 1979, which:

• Regulates the conduct of estate agents in the course of estate agency work. (The definition of ‘estate agency work’ does not cover the letting of properties.)
• Lays down the duties that agents owe to clients (such as the passing on of offers, handling money and giving details of charges) and to third parties (such as disclosure of a personal interest).
• Gives the Office of Fair Trading the power to issue warning or prohibition notices against those persons whom it considers to be unfit to carry on estate agency work. Any person that receives a prohibition notice (a ‘banning order’) will not be able to practise as an estate agent.

Estate agents also have to comply with the Property Misdescriptions Act 1991, which makes it an offence to make false or misleading statements about property offered for sale.

Q2. What should I do if I have a complaint about an estate agent?

If you have a complaint where you believe the estate agent has acted contrary to their duties under legislation, you should contact your local Trading Standards department (www.tradingstandards.gov.uk) or the Office of Fair Trading, which enforce the legislation.

Consumers can also complain to a statutory redress scheme where the complaint is about residential property. From 1 October 2008 all estate agents in the UK who engage in residential estate agency work will be required to belong to an approved redress scheme dealing with complaints about the buying and selling of residential property (including complaints about Home Information Packs).

The Office of Fair Trading (OFT) has approved the following bodies to run estate agents redress schemes:

• The Ombudsman for Estate Agents (01722 333306 or www.oea.co.uk)

• The Surveyors Ombudsman Service (0845 050 8181 or www.rics.org/newregulation)

Residential estate agents must by law belong to one of the approved schemes. Estate agents that fail to join an approved scheme will be subject to a £1,000 penalty charge, which can be repeated if necessary, and will ultimately be banned from carrying out estate agency work if they refuse to sign up.

The statutory redress schemes will not be able to investigate complaints that took place before 1 October, although they can investigate complaints about HIPS under the Housing Act 2004 redress provisions. Other complaints predating 1 October may also be investigated if the estate agent concerned was a member of a voluntary scheme at the time of the complaint. If you are unsure whether your complaint is in scope you should contact the redress schemes (see above). Consumer Direct (08454 040506 or www.consumerdirect.gov.uk) can also provide advice on how to pursue a complaint.

Q3. What is the Government doing to improve the home buying process?

The Government is committed to reform of the home buying process in England and Wales in order to make the process quicker, easier and more efficient.

Home Information Packs (HIPs) were introduced in England and Wales on 1 August 2007 and now apply to all homes regardless of size put on the market. Sellers of properties need to have commissioned a HIP before putting their property on the market. HIPs must contain an Energy Performance Certificate, searches and other documents including evidence of title. A Home Condition Report can also be included by sellers on a voluntary basis. Providing this information at the start of the house buying process will reduce delays and uncertainties experienced by both buyers and sellers.

Further information on HIPs is available from www.homeinformationpacks.gov.uk or from the Department for Communities and Local Government (who have policy responsibility for housing in England and Wales) at: www.communities.gov.uk/housing/buyingselling/homeinformation/

Q4.What is the Government doing to improve the regulation of estate agents?

The OFT published a report on the estate agency market in England and Wales on 23 March 2004. The report concluded that the estate agency market works well in many respects, but there is significant consumer dissatisfaction with estate agency services and customers find it difficult to complain and obtain redress.

The Government responded to the OFT report on 22 July 2004, proposing a package of measures building on and strengthening the OFT's proposals. These measures were taken forward in the Consumers, Estate Agents and Redress Act 2007, which received Royal Assent on 19 July 2007.

The Act contains provisions requiring estate agents in the UK engaged in residential estate agency work to belong to an approved redress scheme dealing with complaints about the buying and selling of residential property. The order requiring estate agents to sign up to such schemes came into force on 1 October 2008.

The Act will also implement measures to improve the regulation of estate agents by:

• Giving the OFT and local Trading Standards officers powers to require access to premises and on-site production of records in a wider range of circumstances
• Expanding the circumstances in which the OFT can consider the fitness of an estate agent to practice, and issue prohibition or warning notices under the Estate Agents Act.
• Requiring estate agents to make and keep records, including records of offer letters, for a period of six years

The measures providing enforcers with increased entry and inspection powers, and the OFT grounds to issue warning and prohibition orders, also came into force on 1 October 2008.

For further details please visit the Consumers, Estate Agents and Redress Act web page.
 
http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/BuyingYourHome/DG_4001323


Choosing and working with an estate agent

You may want to choose an estate agent that is registered with the NAEA or the Ombudsman, as this will mean they have to abide by a code of practice. You can find one in the area in which you are interested by searching on the NAEA website. All estate agents are bound by the Estate Agents Act, whether or not they are registered with a governing body.

If you have a complaint about the conduct of an estate agent you can contact the Ombudsman for Estate Agents. The OEA provides an independent service for dealing with disputes between estate agents who are members of the Ombudsman Scheme, and consumers who are actual or potential buyers or sellers of residential property in the UK.

The OEA will advise on alternative routes to take if the estate agent you wish to complain about is not a member. You can also contact the trading standards department of your local council.

* Estate Agents Act Opens new window
* The Office of Fair Trading (OFT): Using an estate agent to buy or sell your home Opens new window
* National Association of Estate Agents Opens new window
* Ombudsman for Estate Agents Opens new window
 
latest with our saga is they won't give any good info nor explanation of what they are doing or not done.

It gets a bit silly as it leaves so much to imagination which can be really very counter productive as you feel there must be something funny going on.

In our case I feel sure someone has passed on information to someone making an offer when they should not have. How can anyone actually get evidence?
 
If you can afford to maintain the house and associated debts, take the house off the market. You can withdraw from a sale at any time prior to completion. If the estate agent asks why, explain your misgivings of their handling of you, the customer.
 
The markets crazy at the moment, you need to be desperate to sell.

Customer of mine wanted to sell her house a couple of months ago, and while she accepted the effects of the downturn and hence provisionally accepted a relative offer- she found the owners of places she wanted to buy refused to budge from their idea of what their place was worth at it's peak. She ended up staying where was cos it sounds to me right now the whole things gonna do your head in.
 
The markets crazy at the moment, you need to be desperate to sell..

Yes hairy ben, it is true, she is desperate and half of the southern counties of england knows it! She does not hold back with her blabber mouth which does her no favours.

Trouble is that one or two chosen words in someones ears and the agents keep a punter in their doors, which is what it is all about right now. They know the end of their time is coming and the writing is on the wall for their cosy little business.

The internet is the solution and I don't feel at all sad about that, good riddance to them, they make it all up as they go along and will say whatever they need to.

In this case it is 22,000 less than even an adjusted value should be. They really don't care. The main issue for me is who would advise anyone to take an offer in January, it is the pits for anything other than sales, which really sums it up.
 
Sell or wait are the two options.

If you wait then consider letting the property on short term rental via a reputable rental agency. The rental income will go some way to pay for the debts you mention.

If there is a mortgage or any other loan secured on the house then you will have to check with the lender that letting is acceptable and the buildings insurance may be a bit higher.
 
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