Letter: End of estate agents?
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.ONE MUST welcome your leading article (5 March) on the need for reform of buying and selling houses, but shoring up a basically unsound system with rules and regulations is unlikely to provide a solution. There is a straightforward way of putting things to rights.
Estate agents are about the only middle-men in the market who don't hold their own stock - because, they say, they can't afford to - and their clients therefore have to borrow heavily to cover the transfers over which they preside. Agents also have a vested interest in holding out for high prices, thus forcing them up; since they charge a percentage for their "services".
Why not empower local authorities to buy and sell houses at rateable value or the equivalent? They could afford to hold their stock; they would have every incentive to sell quickly at the best price within the range since their income depends on a levy on occupied premises; buyers would immediately know what was available to suit them in the locality; and home owners would become more mobile as a result of a diminishment of the hassle of moving.
Astute authorities, perhaps with the advice of estate agents employed as public servants, might in fact legitimately make quite a lot of money on the side.
JOHN A DAVIS
Great Shelford, Cambridgeshire
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments