Estate agents slammed for pressuring buyers to use in-house services
It also highlighted their failure to share basic property information and the lack of options available to buyers when it comes to dealing with estate agents who work for the seller.
HOA founder and chief executive, Paula Higgins, said: “We hear day-in day-out, and from our research, that buyers when they go to an estate agent are under extreme pressure to use those in-house services.
“We know it’s not supposed to happen, but it happens, and buyers have nowhere to turn to because the contract with the estate agent is with the seller – there’s nowhere for them to go.
“They want that property, they don’t really want to get into an argument.”
The HOA also revealed it’s examining cases where consumers have been charged high rates of commission (8%) on auction sales.
“Estate agents, can you really make money off the buyer and seller in the transaction, or are you just working for yourself? I think that really makes things confusing for people,” Higgins said.