Ombudsman acts on conditional selling scandal with tough new guidance
Original Article Summary
Estate agents must act fairly and not use tactics to sway consumer decisions, says TPO
PropMatch Curated Analysis
The Property Ombudsman has issued new guidance prohibiting estate agents from pressuring buyers to use specific services as a condition of offer acceptance, following BBC Panorama investigation into conditional selling practices.
Investor Relevance
Property investors frequently deal with estate agents during acquisitions and can now confidently refuse pressure to use recommended solicitors, mortgage brokers, or insurance providers, potentially saving costs and maintaining service choice. This guidance strengthens their negotiating position and protects against unfair practices that could inflate transaction costs.
Original Source:
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