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Bob Loblaw

Rules Regarding Ea Selling Own House

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Are there any disclosure rules in place regarding an Estate Agent selling their own house? I was under the impression any advert must state that their is a relation between the house and the fact that it belongs to someone connected with that agency.

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Are there any disclosure rules in place regarding an Estate Agent selling their own house? I was under the impression any advert must state that their is a relation between the house and the fact that it belongs to someone connected with that agency.

I'm pretty sure they are supposed to, but whether they do is another matter. Few yrs ago I looked at a property (it was then a BTL) where the EA told me it belonged to someone at the same agency - there was nothing on the website or in the particulars.

I later made an offer which was turned down on the grounds that I couldn't exchange that same day (!) Said as if this was quite normal.

Later found that it had sold for way under both AP and my offer.

Would guess it was passed on to a family member/friend at a price that avoided a lot of the CGT they'd otherwise have had to pay. Only advertised at all to go through the motions.

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Are there any disclosure rules in place regarding an Estate Agent selling their own house? I was under the impression any advert must state that their is a relation between the house and the fact that it belongs to someone connected with that agency.

This is a snip from the text on a house I have been keeping an eye on.

"Declaration In accordance with Section 21 of the Estate Agency Act 1979, we declare there is a personal involvement in the sale of this property as it belongs to a relative of the owner."

They were a bit slack with it though as the Bee shows it came on the market in January but they did not declare the above until May.

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I don’t see why this would be a huge problem. EAs are hired by sellers, paid by sellers, and are supposed to get the best deal possible for a seller. So there ought to be no conflict of interest at all here. The EA should be incentivised to do an extra-good job.

It’s where an EA was [directly or indirectly] the buyer, as per Mrs Bear’s example, that problems might kick in.

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This is a snip from the text on a house I have been keeping an eye on.

"Declaration In accordance with Section 21 of the Estate Agency Act 1979, we declare there is a personal involvement in the sale of this property as it belongs to a relative of the owner."

They were a bit slack with it though as the Bee shows it came on the market in January but they did not declare the above until May.

I had to read that a couple of times, as I was wondering why the seller of the house would not be a relative of the owner of the house in all cases...

and then I understood.

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  • 334 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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