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TODAY'S OTHER NEWS

TPO: More clarity needed on agency agreements

Agents are being urged to be clearer about their terms of business with clients after the public face of The Property Ombudsman (TPO) Rebecca Marsh revealed complaints have shifted from service to financial issues.

Marsh revealed that the trend for complaints has moved from clients complaining about communication to cases around offers and fees.

Speaking during an exclusive interview with Estate Agent Today, she said: “We have seen a shift from complaint handling to offers and fees being key areas.

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“Dual fees is also becoming more of an issue.

“That is because the competition in the market between agents and the anxiety of sellers to get 2022 prices is driving a level of angst that people don’t necessarily either explain or listen as well as they might.”
 

Marsh said it is important for agents to be clear around the basis of the agency agreement and what happens if a vendor goes and talks to somebody else.
She added: “Some do it really well, some don’t seem to quite understand it.”

Marsh suggested the level of competition in the market and issues over lead generation, stock and sales falling-through means agents are hard-pressed for time, “which may have an impact in terms of their clarity in relation to expectations.”

“Agents were really busy during the Stamp Duty holiday, now we are in a similar situation in terms of making inroads, that leads people to do things quickly and less well.”

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    The average reading age of the British population is of a 9 -11 year old. Agents can be as clear as they like, whether the person comprehending what they say understands them is an altogether different matter.

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    What's the reading age of British adults who own their own home?

     
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    A lot of people cannot even read English but I doubt they are homeowners.

     
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