3 May

Buyers want to see more stringent regulation for agents

Buyers want to see more stringent regulation for agents

People looking to make the step onto the bottom rung of the property ladder want to see more regulations for estate agents to help improve confidence, a new survey has found.

According to the Royal Institute of Chartered Surveyors (Rics), people feel that they are not given sufficient information when buying a home, with 77 per cent saying that this would improve if there was a mandatory regulatory body.

First-time buyers are in the spotlight now more than ever, with the government's Help to Buy scheme and more banks offering cashback on stamp duty to increase the volume of newcomers.

The survey said that 29 per cent of people were particularly unsure over the processes of buying, while 30 per cent said they received no advice from their agents.

Peter Bolton King, global residential director with Rics, said: "When making the biggest purchase of their lives, it's important that buyers - and especially those who haven't been through the purchase process before - understand precisely what is involved. This is particularly relevant now, with the market now seemingly over the very worst and more first time buyers in a position to make a move."ADNFCR-1222-ID-801581139-ADNFCR

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