A new survey says 80 per cent of homeowners believe the process of buying a house has remained largely the same or has actually worsened during their lifetime.
Meanwhile just over three quarters also believe the service provided by agents and other players in the industry has also declined or remained static.
The survey was of 1,109 homeowners conducted in the middle of this month.
When asked whether they thought the buying process changed over their lifetime, 56 per cent said that it stayed the same, 24 per cent said it declined, and just a fifth said it had improved.
When asked to comment on the quality of the service provided by the industry, 50 per cent said it had not changed in their lifetime and 27 per cent felt it had declined; only 23 per cent said it had improved.
Of those surveyed, 30 per cent confirmed they have only purchased one home in their lifetime. A further 28 per cent had bought two homes and 41 per cent had bought three or more.
Silas J Lees of PropTech firm WiggyWam, which commissioned the survey, says: “For the general public who move, on average, every 23 years, it’s no surprise they find the process complex and frustrating, packed with opportunities to get their fingers burnt. It’s inevitable that these emotions become associated with the ones actually working to help them buy or sell - estate agents.
“But we now live in a time where being self-serving or opaque in our practices is no longer accepted by the consumer and agents have listened and changed.”
He says buyers should not rely on stereotypes and gossip when selecting a selling agent, but instead seek reviews or independent advice services.
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The perception that the home buying process is getting worse is quite unsurprising considering were just coming out a global pandemic, a furlough scheme that puts law firms under extreme pressure with staffing and massive extra demand driven by the SDLT holiday. There are many positive stories of innovation (that don't make good headlines) Digital logbooks, online AML/ID, Digital Signatures and getting sellers legally prepared are but a few. The UK has a very laissez faire attitude to the current market conditions and a hope that market will sort itself out. Solutions for Home movers, Estate Agents and Conveyancers exist that improve the process massively BUT since they aren't mandated they need to be sought out.
The inadequacies of English Law have been there for years and have been highlighted in recent times. No amount of Gov.UK in tinkering with regulation of practise/procedure, or future implementation of Regulation of Property Agents (RopA) will have any impact. In a world of strong consumer protectionism, it is disgraceful and and embarrassing that our public are exposed to such inadequate, non-existent consumer protection.
Perhaps someone here can explain why 9 days after my son's offer on a house was accepted, with proof of funds & solicitors details sent across immediately, the EA has yet to send the Memorandum of Sale to his solicitor? That's a week of commuting from Derby to Sheffield that could have been saved.
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