Over-val­u­a­tion is still a prob­lem

Yorkshire Post - Property - - PROPERTY -

DIS­CREP­AN­CIES in es­tate agents’ fees and val­u­a­tions, and rou­tine over-val­u­a­tions to win in­struc­tions, have been un­cov­ered by con­sumer or­gan­i­sa­tion

Agents are crit­i­cised for over­valu­ing in or­der to win busi­ness.

Al­though con­cedes that things have im­proved, and that poor be­hav­iour was the ex­cep­tion rather than the rule, it says there are still prob­lems.

Prop­erty Om­buds­man Christo­pher Hamer said he broadly en­dorsed the ad­vice to the pub­lic: to shop around, and to get agents to jus­tify their val­u­a­tions.

“All con­sumers should be aware of the terms and con­di­tions, par­tic­u­larly the fees to be paid, when they en­gage an es­tate agent to sell their prop­erty.”

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