Propertymark has issued a response to the BBC Panorama investigation aired on Monday night time, which revealed probably unethical behaviour at Connells and Purplebricks.
Within the episode, titled ‘Undercover Property Agent‘, reporter Lucy Vallance went undercover for six weeks as a gross sales negotiator at Connells in Abingdon, and located proof that the property company favours consumers taking out mortgages brokered by the corporate itself, over the pursuits of different potential purchasers.
Vallance additionally spoke with a whistleblower who labored at Purplebricks, the place employees have been underneath stress to promote add-on providers and have been incentivised by a fee scheme to get sellers to drop their home costs.
EYE’s report on the BBC Panorama exposé involving Purplebricks and Connells prompted a robust response from readers, with a notable variety of feedback shared, and now Propertymark has issued a response following the documentary.
Nathan Emerson, CEO of Propertymark commented: “Brokers should present a full responsibility of care and guarantee impartiality to all individuals all through your complete gross sales and transactional course of. Consumers and sellers should have freedom to decide on services that meet their wants and preferences.
“It is necessary that brokers show an understanding of the affect of key elements which work together with the shopping for and promoting course of. This contains areas equivalent to contract legislation, conveyancing, and mortgage software processes.
“Brokers should adhere to the phrases of endeavor full due diligence on all events equivalent to compliance, anti-money laundering rules, proof of funds and the flexibility to buy. They’ll provide to introduce providers which offer applicable recommendation and merchandise, however there have to be full transparency and completely no battle of curiosity.
“On account of steady development inside many areas of legislation, the housing sector has far larger ranges of client safety in place than at any level beforehand, and these requirements are consistently evaluated and developed to make sure they continue to be match for objective.
“Ought to anybody really feel a service supplied to them would possibly fall quick on requirements – they will elevate a case with organisations equivalent to Buying and selling Requirements, The Property Ombudsman or the Property Redress Scheme in addition to the organisations personal inner complaints procedures. As well as, if the agent is a member of knowledgeable physique equivalent to Propertymark, they could have extra choices for treatment too.”
