Crackdown on estate agents

The Swedish Consumer Agency (Konsumentverket) and the government want to put more pressure on estate agents. From a consumer perspective, the estate agent market is one of the ten most problematic markets, according to a new report by Konsumentverket. “When we buy a property, it is often the biggest purchase we make and there are high risks associated with these kinds of purchases,” says Minister for Consumer Affairs Per Bolund.

Konsumentverket highlights problems such as excessively low prices being set to attract interest, lack of knowledge about the role of the estate agent and lack of independent advice. The agency wants to see a consumer agency for property purchases with personal, qualified and independent advice. The agency also wants a law or regulation that forces estate agents to state an “assessed market value” for the property.