News: Canny agents in HIP avoidance

Mon, 03 Sep 07

A new poll by HotProperty.co.uk has revealed how estate agents are trying to circumvent HIPs...

The poll, which surveyed UK estate agents, asked if they thought the introduction of HIPs would see agents advising vendors to ‘re-classify’ homes with regards to bedroom number to avoid the process.

The overwhelming response was that over half (59 percent) of the estate agents surveyed agreed with this statement.  Managing Director Shawn Luetchens commented: "Our poll reflects the environment into which HIPs have been introduced - there is significant discontent about HIPs in general and there is bound to be pressure on estate agents to find ways for sellers to avoid paying for a HIP.

“What's more, with HIPS for three-bedroom homes coming in soon, you can be sure people will become even more inventive when classifying homes by bedroom number. One can hardly blame them, the whole HIPS process has been so mismanaged that customers are understandably frustrated and confused. “

Neil Maplethorpe, Partner at Copperfields Estate Agents & Property Management commented: “This is definitely going to happen more and more. In fact, I have already seen it, it was called, wait for it, a ‘bonus room’. What on earth is a bonus room?”

The survey was conducted by HotProperty and polled 223 estate agents in August 2007.

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