A trade organisation for conveyancers has thanked the BBC for airing its Panorama investigation into conditional selling within the property sales industry.
Stephen Larcombe, who heads up the Property Lawyers Association – which is the only organisation of its type to comment on the TV show to date – says “thanks must go to Panorama for shining a spotlight on the murky world of ‘conditional selling’ because integrity dies in darkness”.
“The BBC investigation provided shocking details of what a contaminated property market looks like.
“It showed all too clearly what happens when members of the public come into contact with some estate agents. But should we be surprised?”.
Perversion
Larcombe goes on to say that he agrees with commentary in recent days that conditional selling is a ‘perversion of the market place’, particularly given some of the agency chit-chat on the topic exposed by Panorama.
He says this included managers keen on cash buyers being ignored; prioritising buyers who sign up to Connells’ mortgage and conveyancing services; one agent saying ‘sell, sell, sell’ as well as confidential information about home movers being shared, employees admitting being ‘fast and loose with the rules’ and the use of ‘double bubble’ to describe conditional selling.
“Estate agent culture is based on the concept of a sale of a product not the best interests of vulnerable sellers or buyers,” says Larcombe.
“This is why the idea put forward by the Home Buying and Selling Council and others of estate agents acting like quasi-property lawyers to supply ‘material information’ is faintly absurd and inimical to the integrity of the UK’s huge property market.”
Breakdown in trust
Roxanne Barker of conveyancer, Fix My Legals, comments, “The BBC investigation has highlighted something that’s been simmering in our industry for a long time – a breakdown in trust.
“A big part of that conversation is around conditional selling where buyers feel they’re being pressured to use a specific broker or solicitor to ‘secure’ the property. Whether that pressure is direct or implied, the damage it causes is the same – panic, mistrust, and transactions falling apart before they even get going.
Whether that pressure is direct or implied, the damage it causes is the same – panic, mistrust, and transactions falling apart.”
“The core issue is that there’s no neutral party. Agents are naturally aligned to the seller. Brokers are focused on the buyer. And often, no-one is sitting in the middle to align both sides and keep the chain together.
Supporting the client
“As a conveyancer it’s critical to remain completely impartial – so that means not having a legal agenda, sales targets, or commission conflicts. The sole focus has to be supporting the client and getting the deal over the line by bridging the gap between agents and brokers to smooth out the tension points where priorities often clash.
“For us it’s about educating the client, guiding them, and supporting them to make informed choices that work for them – whether they’re buying, selling, or both. In a market that’s increasingly chaotic, trust and transparency aren’t optional – they are essential. And the more we can lead by example in this space, the faster we rebuild the confidence the industry so badly needs”.
Pic credit: BBC Panorama