The government's plans to overhaul the homebuying process have attracted broad support from across the property industry. The promise is straightforward: reduce delays, cut fall-throughs, and inject some much-needed transparency into a system that can feel opaque and frustrating to anyone who's ever tried to buy a house in the UK.
But there's a wrinkle that deserves closer attention from buyers and sellers alike. Industry figures are now raising concerns that, without careful safeguards, these reforms could actually shift power within the market rather than simply making it work better. The risk? Estate agents gaining more control over crucial upfront services like surveys and conveyancing.
The unintended consequence nobody's talking about
Rob Houghton, chief executive of reallymoving, a property comparison site, has flagged a legitimate concern. The reforms could encourage preferred provider arrangements, where estate agents steer clients towards particular surveyors or conveyancers in exchange for referral fees. Without transparency, that's a problem for you as a buyer or seller.
Why? Because choice matters. When you're buying a property at the UK average price of £270,080 and likely taking on a mortgage at today's rates (around 6.6% for a two-year fix), every decision counts. Hidden fees or limited options can quietly add hundreds of pounds to your transaction costs.
The current system already gives estate agents considerable influence over the homebuying journey. Tighten that further, and you could end up paying more for surveys or conveyancing without realising you had other, cheaper options available.
What's actually changing?
Under the proposed reforms, sellers would be required to commission a survey as part of their sales pack. That's potentially positive. It could save buyers time and, in theory, create a more level playing field where both sides understand the property's condition upfront.
Currently, only about 20% of homebuyers commission a detailed survey. Most rely solely on their lender's valuation, which is designed to protect the bank, not the buyer. A seller-provided survey could change that dynamic.
But here's where it gets complicated. Many buyers still won't trust a seller-commissioned report. They'll want their own surveyor to conduct an independent inspection. That means demand for surveying services could surge substantially. The surveying sector may need to recruit and train significantly more staff to meet that demand without squeezing timescales or quality.
The missing ingredient: buyer protection
The government's proposed Code of Practice for estate agents will be crucial. Without explicit protections written into it, the reforms risk creating a system where estate agents become gatekeepers to essential services.
Here's what needs to happen: you should receive clear information upfront about every surveyor and conveyancer available to you, not just the ones your estate agent prefers. Referral fees and commission structures should be transparent. And crucially, you should understand exactly how much you're paying for each service and why.
That transparency matters more right now than it might seem. With house prices rising 3.8% annually and mortgage costs at elevated levels, the cumulative cost of inefficiency and hidden fees adds up quickly. A family purchasing in a competitive market can't afford to overpay for conveyancing or have their options narrowed without their knowledge.
What you can do now
These reforms haven't been implemented yet, but there's practical action you can take today. When selling, don't automatically accept recommendations from your estate agent without questioning them. Ask directly about their preferred providers and whether they receive referral fees. Get competitive quotes from at least two surveyors and two conveyancers independently. The time spent now could save you real money.
When buying, the same principle applies. Request a list of alternative surveyors and conveyancers from your estate agent. If they resist or suggest it's unusual, that's a red flag. You're entitled to use whoever you want.
Reform of the homebuying process is overdue. The system does need fixing. But the way it's reformed matters enormously. The best outcome is one where buyers and sellers genuinely have more information and more choice, not one where invisible gatekeepers simply shift positions. Keep an eye on how the Code of Practice develops. It's your safeguard.