Online Agents Investigated over Fees
The National Trading Standards Estate Agency Team is investigating four online estate agents over the way they display fees.
Property expert Henry Pryor passed information to the body over Twitter.
Online Agents Investigated over Fees
A spokesperson for the National Trading Standards Estate Agency Team says: “We have received a complaint about four online estate agents and their pricing practises, which we are currently looking into.
“The allegation received is that the estate agents are quoting VAT exclusive prices on their website. Our guidance states that fixed estate agency fees should be inclusive of VAT. This matter is being investigated.”1
Pryor tweeted the National Trading Standards Estate Agency Team, operated by Powys County Council, and also the Property Ombudsman, Trading Standards Institute and the Advertising Standards Authority (ASA).
Last month, Adam Day, from online agent Hatched, complained to the ASA about some agents advertising fees exclusive of VAT.
Day named Purplebricks, eMoov, Tepilo and House Network, the same agents that Pryor complained of.
The ASA confirmed to Day that they were investigating the matter and yesterday, the National Trading Standards Estate Agency Team told Pryor that they are looking into the four named agents.
By yesterday afternoon, just one agent, Sarah Beeny’s Tepilo, had shown their fees inclusive of VAT.
Yesterday afternoon, Purplebricks, eMoov and House Network were still showing their prices exclusive of VAT.
1 http://www.propertyindustryeye.com/four-online-agents-investigated-by-industry-regulator-over-fees/