APFBA

The APFBA homebuyer survey asked property buyers to answer questions regarding their experiences of dealing with estate agents during their recent property purchases or current property searches.

The purpose of the survey was also to gauge the level of awareness of buyers agents in the UK and the importance of professional representation for the buyer in the property purchase negotiation.

Over 2000 people have taken part in the APFBA Homebuyer Survey over the past four months, and we are now able to reveal the results. From those surveyed approximately 1300 were homeowners who had recently moved house in the UK or were looking to move in 2009. Over 700 surveyed were first time buyers, a proportion of which were renting properties whilst they were looking for property to buy.

Question 1 - When are you planning to move home?

• have already = 32%    
• 3-6months =  35%  
• 12months/notsure = 33%

Question 2 - Do you think house prices have further to fall during 2009?

• yes = 61%
• no = 14% 
• not sure = 25%

Question 3 - What's your primary search method for looking for property?

• high street estate agents = 15%
• newspapers = 10%
• online = 75%

Question 4 - Who do you think estate agents work for?

• both seller and buyer = 66%
• seller only = 34%

Question 5 - Do you believe that the asking prices set by estate agents are a good indication of the value of properties you have looked at?

•  yes = 18%
• no = 82%

Question 6 - Based on your own property searches do you believe that estate agents set valuations that are;

• too high = 87%
• reasonable = 9%
• too low = 4%

Question 7 - Estate agents get paid by sellers to sell houses, and the higher the price they get for the sale the more they make, do you agree that there is a conflict of interest with estate agents dealing with both the seller and buyer in the same transaction?

• yes 89%
• no 11%

Question 8 - Do you think buyers would get a fairer deal if they had a professional ‘buyers agent’ to help them negotiate on their property purchase?

• yes 86%
• no 14%

Question 9 - Buying a house can be one of the most stressful things people do in their life. Would you use a buyers agent to help you if there was an opportunity of saving time, stress and money?

• yes 91%,
• no 9%