Estate agents may be taking an unfair share of the blame for slow property transactions, with new research suggesting the biggest causes of delays are largely outside their direct control.
Rightmove research among home movers finds 37% identify conveyancing delays as the biggest source of hold-ups during a property transaction.
Survey and valuation issues are cited by 15%, while 11% point to delays with searches and the same proportion to another party pulling out before being replaced.
By comparison, just 5% identify poor buyer qualification – an area more directly within an estate agent’s control – as the cause of delays.
BEHIND THE SCENES
The findings come as the industry considers how to improve transaction times following the government’s Home Buying and Selling Reform Roadmap.
Rightmove argues agents frequently sit at the centre of transactions, coordinating buyers, sellers and other professionals while attempting to resolve problems elsewhere in the chain.
Christian Balshen (main picture), Director of Agency Partnerships at Rightmove, says: “Estate agents are at the centre of a transaction, coordinating multiple parties, helping resolve issues and keeping buyers and sellers informed, yet many of the biggest causes of delays sit outside of their direct control.
“The work estate agents do is often underestimated because much of what they deliver happens behind the scenes. We want to help the public better understand the value agents provide and the vital role they play in helping people move home.”
AGENT VOICES
Rightmove is now inviting more estate and letting agents to contribute to its home mover education programme, which uses independent agents to provide guidance to prospective buyers and sellers.
The portal has also been running webinars, events and educational initiatives aimed at sharing best practice and raising professional standards.
Balshen adds: “We’re keen to hear from more agents who want to share their knowledge and experiences.
“Whether it’s helping home movers navigate the moving process or raising professional standards through qualifications and training, we’re committed to championing the vital role agents play in the property market.”
