Why We Must Say No to Dodgy Estate Agency Practices

Last night’s BBC Panorama made for uncomfortable but necessary viewing.

The programme took us inside one of the UK’s largest corporate estate agency groups, The Connells Group, where an undercover journalist exposed some deeply concerning practices that sadly tarnish the reputation of our industry.

One of the most alarming revelations was the use of “conditional selling” – where buyers are pressured into using the agent’s in house mortgage broker in order to have their offer put forward to the seller.

Let’s be absolutely clear: this is not just unethical, it is illegal.

Under the Estate Agents Act 1979, estate agents are legally required to treat all buyers fairly and to forward all offers to the seller promptly, regardless of whether the buyer chooses to use the agent’s mortgage or financial services. Additionally, this practice breaches Consumer Protection from Unfair Trading Regulations 2008 (CPRs), which prohibit misleading actions and aggressive sales tactics that could impair a consumer’s decision making.

Put simply: conditional selling is a blatant breach of trust, and a clear violation of both the law and the principles of decent business conduct.

Panorama also highlighted another issue that continues to plague our industry – deliberate overvaluing of properties by the online agent Purplebricks, in order to win instructions. The journalist uncovered that staff were actively encouraged to inflate valuations to appeal to sellers, despite knowing full well that the property wouldn’t achieve that price.

The result? Homes that sit on the market for months, generate little or no interest, and often end up selling for less than they could have – if only the seller had been given an honest valuation to begin with! I hasten to add, Purplebricks are not the only offender when it comes to deliberate over valuing, although their questionable marketing around "sell your home for free" was also exposed. 

These kinds of tactics are what give estate agency a bad name. And they go a long way to explaining why public trust in our profession remains so low.

As someone who has worked in this industry for more than 30 years, including a spell as a director of a large corporate, and now as the owner of a small, independent family run agency serving the Cheadle community – I was saddened, but sadly not surprised, by what I saw. These sharp practices have been going on for years and nothing has really been done to clamp down on it, therefore successive Governments must take their share of the blame. 

I have always believed that honesty is the best policy. Our reputation has been built on openness, transparency, and doing the right thing, even when it’s hard. It's called having integrity. I am not going to stand here as some sort of paragon of virtue. Do we get everything right? No – we’re human. Do we sometimes make mistakes? Yes absolutely  – but never through deceit or malpractice.

We’ve never pressured buyers into using our services. We’ve never told sellers what they want to hear just to win a listing. And we never will.

Our business has survived not because of slick sales tactics, but because of relationships, trust, and service. We treat every client as a person, not a number, you only have to read the number of wonderful five star Google reviews from clients who have used our services to see that people who choose to work with us appreciate they way we operate. And when people put their trust in us to handle the sale or let of their most valuable asset, we take that responsibility very seriously.

So, if you watched last night’s programme and came away feeling disillusioned – I don’t blame you. I did too, it makes me ashamed of my own industry. 

But please don’t think we’re all the same.

There are many hard working, honest agents across the country who are trying to elevate this profession and restore faith in it. And I like to think we’re one of them.

If you want honest, straight talking advice, whether you're selling or letting in the Cheadle or surrounding Stockport area, pop in for a chat or give us a call on 0161 428 3663. 

No pressure, no fluff, no dodgy tactics - Just the way it should be.