June, 2022
Ethical Estate Agents Norwich: Your Trusted Partner - Arlington Park
At Arlington Park, we believe in transparent and ethical practices for all your property needs in Norwich.
In the dynamic world of property, both nationally and right here in Norwich, we're increasingly encountering concerning practices from a select few estate agents. These tactics, often designed to maximise profit at the client's expense, undermine the trust essential for a smooth property transaction.
Recently, a client of ours at Arlington Park shared a troubling experience. They had put forward a legitimate offer on a property they wished to purchase in Norwich, only for the selling agent to refuse to present the offer unless our client first engaged with their 'in-house' mortgage broker. This isn't an isolated incident; unfortunately, we've witnessed such coercive behaviour many times throughout our careers in the Norwich property market.
This scenario echoes the serious issues highlighted in the recent **BBC Panorama documentary** on estate agent practices, which exposed how some firms pressure buyers into using their affiliated services for financial gain. The documentary brought to light the very real conflicts of interest that can arise when agents prioritize referral fees over their clients' best interests. It's a stark reminder that buyers and sellers in Norwich need to be vigilant and informed.
The motivation behind such pressure tactics is clear: agents are often incentivised by 'kickbacks' or referral fees for directing clients to their preferred mortgage brokers or legal teams. The more referrals they generate, the more they earn. While paid referrals for financial or legal work are permissible, it is a legal requirement that full information on these referral fees must be transparently provided to both buyers and sellers *before* any transaction-based decisions are made. Crucially, as a consumer in Norwich, you have an absolute right to choose who provides you with any service related to your property transaction.
An estate agent has a strict legal obligation to verbally present any offer to their client within 24 hours and to provide it in written form within 48 hours. This offer must be genuine and free of any conditions, including the demand that the buyer uses their in-house financial services or legal team. By withholding an offer, the agent is directly breaking the law and acting against the best interests of their client.
As a buyer, common practice dictates that you provide the agent with a 'mortgage in principle' or 'mortgage promise' from *any* mortgage broker of your choosing. This demonstrates your financial capability to afford the property you are offering on. Do not be misled into believing you are obligated to use their specific broker; the same principle applies to legal and conveyancing services. You are entirely free to use the professionals you wish to work with.
At Arlington Park Estate & Lettings Agency in Norwich, we fundamentally reject pressure sales tactics and the 'shark-like' approaches used to profit from unsuspecting and sometimes inexperienced buyers and sellers. Our core belief is in providing the most honest and best advice possible, guiding every client through the entire property process with integrity and transparency.
Our ethos is unequivocally client-first. We see you as a person, not merely a property address, and you deserve to be treated with respect and care. We've deliberately moved away from traditional, formal approaches – we've 'ditched the suits' and designed our office around client comfort. Furthermore, we rigorously adhere to Propertymark regulations, guaranteeing that our clients feel relaxed and confident in our company, knowing that we will do everything within our power to make their property transaction in Norwich as stress-free and fair as possible.
Whether you're looking to buy, sell, or let a property in Norwich, choose an estate agent that puts your interests first. Choose Arlington Park.
25a Earlham Road
Norwich
NR2 3AD
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Committed to ethical property services in Norwich and beyond.