CMA issues warning to estate and lettings agents

In light of this, the CMA has sent warning letters to a number of estate and lettings agents that it has reasonable grounds for suspecting have been involved in anti-competitive agreements to restrict the advertising of fees.

Estate agent disputes are the most common complaint for our members, with many feeling trapped in unfair contracts or battling against hidden charges. As we wrote in our report, the fundamental problem is that the playing field between home sellers and estate agents is far from level, and is largely unregulated despite the large sums of money involved. Estate agents are industry insiders who buy and sell homes all day, every day of their lives, therefore knowing all the tricks of the trade. The homeowner gets involved perhaps once every 20 years, meaning they usually have a lack of experience and knowledge that leaves them open to being taken advantage of.