Over-valuation is still a problem
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.”