How are my rights as a buyer or a seller protected?

The Property Misdescriptions Act of 1991 makes it an offence to make false or misleading statements about property offered for sale. As registered businesses, estate agents are required to deal fairly with their customers, but of course seeking legal redress once things have gone wrong can be difficult and time consuming. Therefore, it is very important to check the agency thoroughly before you commit to buying or selling a property through them.

As a seller you can set a time limit for making the sale, after which, if the property remains unsold, you can choose whether to stick with the same agency or to look elsewhere.

Do I have to use an estate agent?

No. It is possible to sell (or buy) a house without using an agent, especially with the increasing use of the internet. At the present time, roughly 5% of homes are bought and sold independently. However, if you decide to cut out the middleman you should proceed with caution: buying a property is a big commitment, and with such large sums of money involved it is important that the transaction is carried out correctly. There are a variety of websites designed to help you to advertise and sell your house, and it's worth doing some research to ensure that you are confident about every stage of the process.

Although estate agents are not licensed to carry out an official assessment of the property value, they are able to give educated estimates. They also know what an acceptable asking price would be, which non-professionals may not be able to do. A surveyor can give an accurate assessment of the value of a property, so it might be worth consulting one, and conducting a survey of similar properties, before settling on an asking price for your house or making an offer.

How can I choose an estate agent?

The National Association of Estate Agents has a referral service. Contact them on 01926 417 792. You can also visit the agents in the area you live in or wish to move and ask for information on their fees and the kind of properties they handle. Most agencies will be more than happy to help you and to convince you to use their services. You might want to ask them about their complaints process and their membership of bodies like the NAEA and the Ombudsman scheme.