Report comment

I would argue that this whole process of providing for Reservation Agreements is fundamentally flawed in its scope and in its likely effect upon the housing sector, which must be unsatisfactory for various reasons.

Helen Wheeler has recently been promoting the idea of ‘reservation agreements’ to be signed by buyers and existing estate agents with a potentially non-returnable deposit being paid. Apparently a trial scheme is soon to be set up to test the viability of having these but aside from other fundamental reasons, any such idea rather smacks of the referral fee conundrum where tenants have to pay non-returnable upfront fees. Who might end up keeping the unreturned fees?

Unfortunately, this idea is too simplistic by far. Instead, the whole estate agency model needs to be turned on it’s head and be reformed.

MC contracts (or moving contracts), signed by each buyer are what should be entered into between the appropriate buying agent(s) and the buyer. These should entirely replace the old agent/vendor contracts entirely. These are currently entered into between appointed traditional estate agent(s) and each individual seller.

Changing this aspect of house marketing, is the only way to bring the urgently desired result of making housing markets covering England, Wales (and potentially Scotland), operate fairly and efficiently.

I would welcome contact and discussion from those working to achieve the desired result of bringing home ownership back to popularity and affordability.
Secondly, from those wishing to provide a stable rental sector, if that may be the most appropriate thing for those unwilling or unable to own their own homes instead.

For more information on this please Google / read:

The Hendry Solution