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Estate Agents in England render services to people interested in selling or buying property and are generally paid exclusively by their clients. One can find the offices of these local estate agents in every town and city – some are small businesses whose work profile is limited to a small town or village, while others are part of a larger chain that covers a whole area or the whole country. Property ownership is becoming a more elusive goal for first-time buyers – and is therefore all the more desirable – and real estate agents normally play a considerable role in the property market.
The residential property market of UK is fragmented; real estate agents vie aggressively with each other and are somewhat unenthusiastic to share important information with other estate agencies, unlike other nations where multiple listing and sharing is commonplace. It is therefore very difficult to get all the facts about houses available in any particular area. However, the Internet revolution has made the searching for real estate much easier, and several real estate agents have their own websites showcasing different properties. Moreover, there are also websites that list the properties of several different real estate agents active in that area.
Recently, the government introduced Home Information Packs in Wales and England to reform the home purchasing procedure there.
Home information packs have been made compulsory in England and Wales for making selling simpler and buying better. These packs must be compiled by the seller and presented to any prospective buyer.
The following documents must be included in your HIP:
In England, real estate agents are not required to have a license, nor is it compulsory to be member of any renowned real estate organization. Nevertheless, most real estate agents are professionally competent and many belong to popular real estate organizations such as NAEA (National Association of Estate Agents) and RICS (Royal Institution of Chartered Surveyors). It is important for real estate agents to realize that they are being compensated for their services to their customer, so it should be their primary aim to ensure the best deal for their client.