According to the 2018 Homeowners Survey, over 80% of adults in the United Kingdom support the Government in their attempts to insist that estate agents are licenced. This sort of change is sure to bring about a lot of changes in the property market, hopefully helping to deliver a higher standard of service to clients across the country. At Spencer Harvey, we have followed these plans with interest and the fact that a high proportion of respondents are in favour of these plans is interesting.
The report is an annual survey which is carried out by the HomeOwners Alliance and BLP Insurance alongside YouGov, and it aims to find out the thoughts and opinions of homeowners and aspiring homeowners in the country. Therefore, the fact that 82% of respondents have backed the Government plans that would see estate agents requiring to pass a standardised test before they are able to practice is significant.
Changes are likely in the property market
The same survey also suggests that 80% of adults in the United Kingdom would like to see buyers having to prove they have sufficient funds to purchase a property before they place an offer. There was 75% backing for the introduction of a reservation agreement which means buyers and sellers have to provide a non-refundable deposit to ensure both sides are committed to the transaction. This would increase the likelihood of the transaction concluding as agreed.
The Government is pressing ahead with a revitalisation of the estate agent market with several proposals and changes announced on Easter Sunday. Given that this was the 1st of April, some people may have deemed this was an April Fool’s Prank but there is no denying that the Government is serious about the introduction of licences for agents.
The Chief Executive of the HomeOwners Alliance is Paula Higgins and she stated; “These figures mirror what we hear repeatedly from our members. Estate agents are an essential part of the home buying and selling process, but unfortunately, a number of those operating within the sector have a cavalier approach when it comes to good practice. Sellers are trusting agents with their most expensive asset, and too many are receiving shoddy service. By professionalising the industry, the government will give buyers and sellers greater peace of mind, and better practice.”
Anything which provides clients and customers with a greater level of confidence is a positive thing and at Spencer Harvey, we are ready for any new challenge. As highly regarded estate agents in Stockport, we are pleased to say that we have helped many people make their next move in the market and we look forward to doing so for many years to come.
You can give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html