We surveyed over a 1,000 people from across the UK to understand their views of the property market. Our Report for Buying UK Property in 2018 in partnership with 192.com revealed that only 14% of people trust estate agents to inform them of the negative aspects of a property. As we break down the stats and explore the report, we ask whether independent support and advice for homebuyers will help restore confidence in the buying process.
Why don’t people trust estate agents?
Both homeowners and tenants alike stated that they don’t trust estate agents to inform them about the negative aspects of a property. But, where has this distrust come from?
The majority of people are aware of the negative stereotypes of estate agents, but how true actually are these? Naturally, estate agents are salespeople – they sell houses and earn commission as a result. This shouldn’t be a gripe on the profession, but be taken into consideration by buyers when viewing a property.
There are plenty of things a buyer can do to get the most from an estate agent, these include:
• Be nice – try to build some rapport with the agent
• Ask lots of questions before confirming to meet – eliminate any pointless viewings
• Cross check what your told with the facts by getting Phil Spencer’s property report
• You could be about to negotiate with them so keep your cards close to your chest
• Ask the seller, solicitor and other agents about the property – a second opinion helps
• Stop misunderstandings in their tracks – confirm everything you discuss in writing
Remember, estate agents don’t actually have to point out defects in a property by law. They do however have to answer direct questions accurately.
Here lies the resolution to those who are scared to trust an estate agent’s sales pitch. Ask an array of targeted questions. For anyone who wants any extra help for this, we’ve put together a full list of all the questions you should ask an estate agent when viewing a property.
80% of people consider there to be a housing crisis in the UK
Our research asked a number of questions to determine how residents of the UK actually view the current status of the property market. This highlighted some interesting results.
An overwhelming majority of those surveyed believe we’re currently in the midst of a housing crisis in the UK. Interestingly, if we segment this statistic further we see that more tenants (88%) consider there to be a housing crisis than homeowners (71%).
This opinion may be a knock-on effect of the inability for tenants to get their foot on the property ladder. 56% of surveyed tenants do not have any plans of buying a property for at least 2 years. This figure is illuminated further by the 61% of homeowners who consider then next 12 months to be a good time to buy a property.
This demonstrates a clear difference between the perceptions of the UK property market from those already on the property ladder, compared to those who are not yet there.
74% of people do not believe there is enough independent support & advice for homebuyers
How do we rebuild confidence in the home buying process?
It’s a question property companies have been asking themselves for years.
Our survey revealed that 74% of people don’t believe there is enough independent support and advice for homebuyers. So, that’s why we exist. We provide simple, valuable help and guidance to those looking to buy a home. You’re committing to a huge life decision and parting with a significant amount of money, we’re here to help you feel confident about getting it right.
Want support and advice when buying a home?
If you’re feeling the pinch from a housing crisis or simply don’t know how to communicate with estate agents, we offer a catalogue of independent support, advice and guidance for homebuyers and tenants. All guidance is written from experienced property experts who know what’s needed to make the home buying or rental process a little more manageable. Explore our range of articles for buying a house here. Alternatively, if you’re renting, you can find relevant guidance for tenants here or over on our YouTube channel.