Summary
A BBC Panorama investigation found that two big estate agencies, Connells and Purplebricks, might be using unfair practices. The investigation showed that Connells gave priority to home buyers who used their services, like mortgages, while Purplebricks was accused of overvaluing properties to attract sellers.
Key Facts
- BBC uncovered potential unfair practices at Connells and Purplebricks through undercover work.
- Connells allegedly prioritized buyers who used their in-house services for more profit.
- Purplebricks was accused of overvaluing homes to attract sellers and later asking them to lower prices.
- "Conditional selling," urging buyers to use in-house services, is against the rules Connells pledged to follow.
- Connells responded saying they aim to treat all customers fairly.
- Purplebricks stated that they no longer set targets related to pushing customers to lower their asking prices.
- Connells operates 1,200 branches across the UK and uses in-house mortgage services.
- The investigation raised concerns from over 20 financial and mortgage advisers.
