Can Estate Agents Lie About Offers? Thousands Google This Monthly…
It is a shame, but it is a fact, that thousands of people in England Google to learn whether estate agents can get away with lying about property offers. We think this is crazy (and sad) at Avocado Property! So, in this blog we will breakdown what you need to know to protect yourself.
Buying or selling a property can be stressful, and it’s natural to question if estate agents might be tempted to exaggerate or misrepresent offers to push a sale based on the reputation of the industry.
Here’s an official breakdown of what’s allowed, what isn’t, and how regulatory bodies like The Property Ombudsman (TPO) and the Property Redress Scheme (PRS) protect the public in the property buying process.
Estate Agents and the Code of Practice
Estate agents in the UK must comply with regulations enforced by TPO or PRS. The independent bodies that ensure estate agents uphold transparency and professionalism. According to these guidelines, agents are prohibited from lying about offers. Any breach of these standards can lead to serious consequences, including penalties, suspension, or whopping fines.
The advice given by both regulatory bodies in their code of practice is: following a buyer officially submitting an offer they should have verbal communication back from the estate agent in 24 hours and written inside 48 hours. Even if there is not a decision on the offer.
Are Agents Allowed to Mislead Buyers?
In short, no. Both TPO and PRS require agents to act honestly, and misrepresentation violates their code of practice. If an agent claims there are higher competing offers, they should be prepared to substantiate them with evidence. TPO and PRS offer consumers a pathway to file complaints if they suspect misconduct, giving you recourse for unethical behaviour.
How to Spot a Trustworthy Estate Agent
Look for agents who are clear in their communications and affiliated with either TPO or PRS. At Avocado we are part of The PRS. Good estate agents commit to professional conduct standards and should openly provide documentation for any claim they make about offers. By choosing an estate agent affiliated with these regulatory bodies, you reduce the risk of misrepresentation.
Protect Yourself: Insist on Documentation
Request all offers in writing to ensure transparency. This documentation not only keeps the process clear but also provides evidence if you need to report any issues to TPO or PRS.
Key Takeaways
- Agents can’t legally lie about offers due to the oversight of TPO and PRS.
- Request documentation for any offers to ensure transparency.
- Choose an agent affiliated with TPO or PRS for added security.
Understanding these protections can give you confidence as you navigate your property transaction. By working with an agent who respects TPO or PRS guidelines, you’re safeguarding your interests and your investment.
If You Would Like to Book a Valuation Simply book a valuation with us today, and let’s discuss how we can help with your next steps Book a Valuation