|
|
Article: Inquiry into estate agents after surge in complaints
- Article from:
- The Independent (London, England)
- Article date:
- June 12, 2002
- Author:
CopyrightCopyright 2002 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
|
CLAIMS THAT estate agents are exploiting buyers and sellers in a
booming property market are to be scrutinised in a year-long
government investigation.
A review of agents' practices by the Office of Fair Trading (OFT)
has been prompted by a record 10,000 complaints in the past year.
These included allegations that agents were charging exorbitant fees,
encouraging gazumping and illegally forcing buyers to sign up for
financial services such as mortgages or insurance.
There are concerns that amid spiralling prices and the most acute
shortage of new homes since the Second World War estate agents are
employing increasingly underhand tactics and stoking the boom.
An estimated 50,000 individual ...