It’s Monday, the start of another working week and here at the HousesForCashUK.co.uk blog we’re going to pick up were we left off on Friday. The Office of Fair Trading (OFT) plan to shake up the online aspect of the estate agency industry by encouraging more ‘introducer’ businesses. These introducers are often websites where buyers and sellers can meet and conduct negotiations between themselves.
Introducer sales in the UK are currently in the minority, making up just 2% of the market, but across the pond such transactions are much more frequent, accounting for 15% of all property sales. Part of the plan from the OFT is to reduce the regulations applicable to introducers and therefore free them from the red-tape and costs associated with being classed as an estate agent. Of course this is great for competition and for consumer choice, but with deregulation can come issues of mis-selling with no rebuke. A workable balance is needed.
Tags: conveyancing, fast house sale, quick house sale, repossession