The Intermediary – August 2025 - Flipbook - Page 38
BEYOND THE
HEADLINES
RESTORING TRUST AND PRIORITISING
CONSUMERS IN ESTATE AGENCY
by Jessica O'Connor
It is not often that estate agency practices
working closely with industry bodies and
BBC Panorama investigation, ‘Undercover Estate
engaging with local Trading Standards.”
Agent,’ shone an uncomfortable spotlight on
the industry.
While the revelations have inspired criticism,
That sentiment aligns with the stance of
National Trading Standards, responsible for
overseeing compliance with estate agency law. Its
they also opened a rare and valuable window. In
guidance on conditional selling is clear: estate
sparking industry-wide debate, this has afforded
agents who fail to pass on offers purely because
property professionals across the sector an
the buyer declines additional linked services –
opportunity to examine their own practices – to
such as mortgage advice or conveyancing – are
ask whether the balance between commercial
“in breach of their professional requirements and
interest and consumer choice is being struck
can face sanctions.” It also describes conditional
fairly, and to consider how stronger standards,
selling as “unacceptable,” noting that has the
clearer guidance, and closer cooperation could
potential to cause “considerable financial loss
turn a moment of scrutiny into a platform for
and emotional turmoil” for buyers and sellers.
lasting improvement.
Hidden pressures
Part of the challenge is that the practice often
goes unnoticed and unreported. Offers may be
rejected for many reasons, and most prospective
Conditional selling, in the property world, is
buyers “rightly assume that, if an agent tells them
the practice of linking the acceptance or
their offer has been rejected, the process has
progression of an offer to the use of a specific
been honest.”
mortgage broker, solicitor, or other in-house
service. While there is nothing untoward about
Broker perspectives
an agent recommending a trusted contact
For brokers, the recent revelations landed
– such arrangements can even streamline
communication, cut delays and benefit the buyer
– the problems begin when recommendations
turn into requirements.
A spokesperson for Connells, one of the
less like a bolt from the blue and more like
confirmation of what many had known for years.
Nick Jones, mortgage sales and marketing
director of Access FS, says: “While I was troubled
by the findings of the Panorama investigation
agencies named in the programme, says: “We
into conditional selling, I wasn’t entirely
maintain a strict zero-tolerance approach to
surprised by them.
conditional selling, ensuring transparency and
fairness throughout the process.
“This is monitored through our ongoing
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"We also recognise the wider role we play,
make it to prime-time television, but the recent
"After all, Access FS has been campaigning
against conditional selling for years.
“It’s disheartening to see practices that
programme of branch audits and mystery shops,
prioritise corporate profits over clients’ best
which play a vital role in helping us deliver high
interests – especially when they may lead to
standards across our offices.
sellers receiving lower offers.”
The Intermediary | August 2025
