Published: 25/02/2024 By Tom Bloomfield
The Consumer Protection Regulations that govern estate agencies require that all information about a property that would materially affect an average buyer’s decision is highlighted in a timely fashion.In some instances, predicting the opinions of an average buyer is easy – for example every buyer would expect to be made aware in advance if a property was located adjacent to an ugly communications mast or a smelly farm. In these cases, a transparent description contained within the online advert will prevent droves of pointless enquiries and viewings, and this is in everybody’s interests.
However most negative features are more subjective and require an agent to make a balanced decision based on the need not to unnecessarily spook buyers, versus protecting them from having their time wasted. For example, would the average buyer expect to be made aware if a property was close to a river, even if that river had never flooded? (Perhaps in this example it’s the interpretation of “close” that needs to be considered). Or how close to a noisy flight path would a house have to be before the average buyer would expect to be warned in advance?
In the end there is no such thing as a standard approach on decisions like these which are best made on a case-by-case basis and hopefully with the benefit of experience.
If you feel that your property has been mis-represented in some way talk to your agent to find out how they came about making their decision, and if you are still concerned you are being sold-short please contact us for a second opinion.