Two hands grabbing towards a pile of money

As a mortgage advisor, I’ve seen first hand how a good estate agent (or a bad one) can dramatically affect the outcome of a property journey. The BBC’s recent investigation into conditional selling, particularly involving one high-street name local to my business and one national online agency has highlighted the importance of choosing wisely. Let’s break down what that means for you.

What’s the issue?

The BBC’s Panorama investigation revealed that the local agent prioritised buyers who agreed to use their in-house services (mortgages or conveyancing), potentially ignoring better offers from other buyers, an unethical practice known as conditional selling

Similarly, the online estate agency faced criticism for overvaluing properties initially to win business, only to pressure sellers into reducing prices later, which boosted their commission.

These are not isolated incidents, they indicate systemic issues where profit is placed above service excellence, client trust and transparency.

What makes a good estate agent?

Essentially, a good estate agent is one that you can have an open and honest relationship with. One who is transparent about their fees and commission, and one that will be happy to answer your questions.

Here are some of those questions you could ask, that will help you spot a good estate agent:

  1. Do you require buyers to use your in-house services? Speak plainly. Legally, agents must submit every offer, regardless of whether the buyer intends to use their inhouse services or not. It’s a statutory requirement under the Estate Agents Act 1979
  2. How do you arrive at your property valuations?" Watch for overly optimistic pricing schemes that paint an unrealistic picture of your property’s worth
  3. Can I choose my own solicitor or mortgage advisor? Your answer should always be yes
  4. How do you manage multiple offers on the property I’m interested in? A transparent agent should be clear about how offers are handled and keep you informed
  5. Can you share recent client references or testimonials? Honest feedback matters, especially from someone in my field – you can always check Google Reviews
  6. Are you regulated, and how do you ensure your team follows best practices? Good agents often stand behind their ethics and training.

Red flags to watch for

Pushy insistence on in-house services. If an agent subtly (or overtly) insists you must use their mortgage broker or solicitor, that's a major red flag. Lisa Webb, consumer law expert with Which? Magazine, reviewed Panorama's evidence of how one sale was managed.

"This [favouring someone who uses the conveyancing service] is absolutely something that should be against the law - and something that I think that these estate agents really ought to be investigated by the authorities for, because this should not be happening," BBC News

Suspiciously high initial valuations. Overvaluing a property to secure your business only to drop the price later is manipulative and serves only to pay the agent a higher commission.

Unclear or evasive about how offers are presented. If they hedge around questions on how offers are passed on, be cautious.

No regulation or accountability. Ethical agents are open about the regulations they follow and their obligations to you.

Lack of client or industry endorsements. Absence of reviews, testimonials, or professional backing speaks volumes.

 

A mortgage advisor’s thoughts on all this…

It’s my opinion that choosing an estate agent is just as important as selecting your mortgage advisor. You deserve transparency, honesty, and unwavering support throughout the buying or selling process.

As a mortgage advisor, I work very hard, searching whole of market mortgage lenders to secure the best possible outcome for my clients, often presenting more than one option and giving every opportunity to discuss them. But when an estate agent steers you toward services packed with potential conflict or makes decisions that don’t align with your best interests, it becomes harder for me to intervene.

Your best outcome is when every element of your team; estate agent, mortgage advisor, solicitor, works with you, not for themselves. So, ask the right questions, trust your instincts, and don’t be afraid to walk away from someone who doesn’t give you the clarity and ethical backing you deserve. And of course, ask a friend or someone you professionally trust to give you a recommendation…