The majority of UK adults find buying a home more stressful than selling but many are unaware of who an estate agent is acting for.
Research by property buying agent matching platform First in The Door found 35% find purchasing a home stressful, falling to 28% for sellers.
But almost half (49%) of UK adults believe that estate agents act for both buyers and sellers.
The top four stress triggers were finding the process time consuming (51%), difficulties in dealing with estate agents, surveyors and mortgage advisors (49%), chain delay frustrations (41%) and negotiating and getting a fair price (38%).
Lack of awareness of buying agents was the major reason why respondents hadn’t used buying agents before, at 69%.
After being introduced to the concept and typical fees, 41% expressed interest in using a buying agent in the future.
Claire Whisker, founder of First In The Door, said: “For a small fee that tends to range between 1-2% of the purchase price, buying agents provide a range of benefits - they're not just for the rich and famous anymore.”
|
Challenges |
% of UK Adults |
|
|
#1 |
Stressful and time consuming |
51.1 |
|
#2 |
Dealing with estate agents, surveyors and mortgage advisors |
48.7 |
|
#3 |
Delays in the property chain |
41 |
|
#4 |
Negotiating and getting a fair price |
38.2 |
|
#5 |
Getting a mortgage |
33.1 |
|
#6 |
Admin |
31 |
|
#7 |
Not sure who to trust |
27.3 |
|
#8 |
Transactions falling through |
26.5 |
|
#9 |
Lack of suitable housing stock |
23.6 |
|
#10 |
Gazumping |
22.5 |
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Interesting survey.
It seems to me that many people don’t actually read what they are sent-by estate agents, surveyors, mortgage brokers and conveyancers-or do any research to work out who does what, when and why.
They seem to want everything explained in person rather than reading things for themselves.
We've commented for years on this.
Agents work for the seller, up to SSTC. Then they firmly switch to working for the buyer.
If you witness decades of people being handed completion dates by agents, along with supposed facts such as;
'buyer will pull out if not completed by'
'mortgage offer expires on'
'anither party in the chain goes on holiday for a month on X so has to be completed by then'
And many many more.....
We have LOTS of documented instances of this sort of behaviour where it's been found out as lies.
Then it's hard not to come to any other conclusion. The desire to 'get the deal over the line' (which is coded, polite speak for 'we want our commision') trumps client stress, and satisfaction. Time and again.
When you also see stupid advice in order to manipulate clients into simultaneously exchanging and completion, being coerced into accepting being gazundered, or even cancelling family holidays. Just so the deal completes.
Well, it's a farce.
And Conveyancers are complicit.
Decent agents represent the seller, but still providing great service to both parties throughout. Of course there are terrible lazy greedy agents like all industries. Any solicitor or agent who lies should be struck off. Mind you loads of industries lie as well as sellers and buyers. Liars get found out.
Anyone who has done sale of residential property exams will know that you work for the seller and the buyer. Your seller pays your fee but without holding the buyers hand through the process, making sure all the milestones are met, the job still isn't complete for the seller.
Surely it’s common sense you work for the fee payer whether you are an agent, solicitor or any job?
A survey by a buying agent is only designed to raise publicity for this business not to get real facts.
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