As the second part of the government's Help to Buy scheme kicks off, and the property market continues to get busier, more of us are set to spend a bit of time with estate agents over the coming months.
Agents who do not voluntarily join a professional body do not have to meet minimum competency standards, and buyers and sellers can have little come back if things go wrong. And sometimes they do go horribly wrong, as these stories attest …
The agents who let in a thief
Not one but three different agents in Essex showed luxury homes to a thief who stole expensive jewellery during the viewings in August. The bogus buyer, who called himself Oleg, managed to convince the agents he was a representative of a wealthy Russian and needed time alone in the property to speak privately to his client on his mobile phone. Source: Estate Agent Today
The agent who didn't call ahead
An agent showed a couple round a flat without checking whether anyone was home. All was well until they got to a bedroom and opened the built-in wardrobes … to be greeted with the sight of the owner hiding inside, stark naked. Source: Rightmove.co.uk
The agent who failed to make proper checks
A couple signed up to a shorthold tenancy through a lettings agent, but were evicted just 10 days later. Bailiffs forced entry while the tenants were at work and changed the locks. The lettings agent had failed to verify that the landlord had the authority to rent out the property and it turned out she was being evicted by her mortgage lender. The couple were not even allowed back in to remove their belongings. Source: The Tenants Voice
The agent who failed to call the police
A lettings agent in Holland Park arrived at a property with a prospective tenant to find the front door hanging on its hinges. Inside, the flat was a shambles, but the agent continued with the viewing and merely pulled the door shut when he left. It wasn't until the owner returned home that evening that she discovered she had been burgled. Source: Sourcingproperty.co.uk
The agency which left too much to the imagination
An estate agency's description of a property in Epsom went viral after it stated it could not show internal photos "due to the owners' hobby". Speculation ensued, including a New York newspaper wondering whether said hobby might involve uranium. Source: ThisislocalLondon.co.uk
The agent who showed a property with a dead body inside
An estate agent showed prospective buyers around an £800,000 house in Notting Hill, London, without realising that the 55-year-old owner he presumed was asleep on the sofa had actually died. The agent admitted to a coroner's court that he had thought "something didn't seem right" but continued with the viewing nevertheless. Source: Daily Mail
The agent who had no idea where he was
A couple visited a property with an estate agent who conducted the entire viewing on auto pilot. "He told us all the normal spiel about heating and wiring etc, then said there was potential for developing or extending the property with a conservatory or adding a loft conversion," the prospective buyer said. "The wife and I looked at each other, feeling very confused. We were on the third floor of a five-storey block." Source: Rightmove.co.uk
First-time buyers are particularly vulnerable to incompetent agents, the Royal Institution of Chartered Surveyors says, claiming most are forced to "fly blind" through the "biggest purchase of their lives". But sellers also need to know they are not paying huge fees to someone who is sleeping on the job – maybe even literally if the tales above are anything to go by. Here are a few things you can do to reduce your chances of encountering a hapless estate agent:
1) Only deal with agents supervised by the property ombudsman. These agents must follow the ombudsman's code of practice and you can get up to £25,000 compensation if they break the code. Find participating agents from The Property Ombudsman.
2) Get recommendations from friends who have both bought and sold in the area. If you are selling up you will want to know the agent is polite to would-be buyers and turns up on time for appointments, as he or she will be representing you.
3) Value the property yourself. You can do this online for free at Zoopla.co.uk or pay Hometrack.co.uk £19.95 for a detailed property valuation report based on the same database used by mortgage lenders.
4) Deal directly with sellers and buyers using Tepilo. The property search engine, set up by Channel 4 TV presenter Sarah Beeny, allows homeowners to advertise directly to sellers, avoiding the need for estate agents completely. The site is free with no commission fees to pay. Alternatively, try fee-charging sites like emoov.co.uk or House Simple.
5) Contact potential sellers in person. Visit your chosen area and contact the sellers of properties you like directly, perhaps by popping a card through the door. Tell them you are interested in buying their home and give your contact number. They may be considering selling up and be glad to bypass agency fees.
6) Look at how the agent markets other properties. If the descriptions on its website tend towards the jocular, and you seek seriousness, or the pictures look like they were taken through a dirty window, you might want to steer clear – even if the agent is charging the lowest commission.
7) Check any agent you hire is a member of the National Association of Estate Agents. They must undergo professional development training each year and follow a voluntary code of conduct. There is a disciplinary process which includes penalties up to £5,000 for each rule broken. Search the directory of members at NAEA.co.uk.
