95% of estate agents say homebuying reforms could speed up property transactions
The latest survey by GetAgent.co.uk has found overwhelming support from estate agents for the Government’s proposed homebuying reforms, with the vast majority believing the changes will create a faster, more stable and more efficient property market.
The proposed reforms are designed to modernise the homebuying process by introducing greater upfront information, earlier legal certainty and measures aimed at reducing delays and fall-throughs that have long frustrated buyers, sellers and property professionals alike.
GetAgent surveyed estate agents across England to understand how they believe the proposed changes could impact the market.
The findings suggest that agents believe greater transparency at the very start of the homebuying journey will deliver immediate benefits. More than three quarters (76%) believe providing buyers with more upfront information will help reduce fall-throughs and the time wasted progressing cold or unqualified enquiries, creating a stronger foundation before a sale even begins.
The research also found that 93% of agents believe introducing binding agreements at an earlier stage would improve overall market stability. Overall, 95% believe the proposed reforms could help reduce transaction timelines, creating a faster and more efficient homebuying process for buyers and sellers alike.
83% also believe greater certainty throughout the transaction process would improve overall market health by increasing buyer demand, while 92% think the reforms would help improve both the performance and reputation of the property industry.
Agents also believe the changes would deliver tangible day-to-day benefits.
When asked how the reforms could improve the industry, the most common response was a better client experience for buyers and sellers (21%), followed closely by a reduced chance of sales collapsing (20%) and quicker sales for clients (16%).
Others highlighted less blame being placed on agents for delays outside their control, greater certainty around pipelines and commission, more efficient use of their time and better qualified buyers entering the sales process.
Colby Short, Co-founder and CEO of GetAgent, commented:
“For years, the industry has accepted that fall-throughs, long transaction times and uncertainty are simply part of moving home, but they don’t have to be.
Agents already spend a huge amount of time managing issues that are completely outside their control. Chasing paperwork, dealing with buyers who aren’t fully prepared and trying to keep chains together all takes time away from helping clients move successfully.
What stands out from this survey isn’t just that agents support the reforms, it’s why they support them. They see an opportunity to spend less time firefighting and more time advising clients, progressing sales and delivering a better overall experience.
If buyers enter the process better informed and with greater commitment from the outset, everyone benefits. Transactions become more predictable, sellers gain greater confidence and agents can focus on what they’re best at rather than constantly reacting to avoidable problems. That’s ultimately what creates a healthier housing market.”
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