Home Information Packs (HIPs) - Independent Estate Agents

Estate agents are going to be at the sharp end of the business in terms of getting a Home Information Pack prepared for a client. A property will not be able to be marketed until the Home Information Pack is available and not unsurprisingly, many agents are concerned that this could introduce unacceptable delay.

If the seller is also committed to paying in the region of £500-£600 up front for a Home Information Pack then some agents are worried that this will reduce the number of houses coming onto the market.

The National Association of Estate Agents has expressed support for the Governments intended aim of improving the home buying and selling process, but has been less enthusiastic about Home Information Packs.

There are also questions regarding the competitive advantage that the large players have compared to the small independents. Those with financial clout will undoubtedly be offering a ‘no sale no Home Information Pack fee’ deal that the smaller firms will struggle to match. Similarly, independent Home Inspectors will find it difficult to defer payment for the Home Condition Report or Energy Performance Certificate until completion of the sale.

However, a growing number of estate agents are already offering Home Information Packs on a voluntary basis. Spearheading this campaign has been Ed Chamberlain who runs Chamberlains Estate Agents and also originally chaired the consumer lobby group ‘CHIPS’ (Consumers for home information packs).

A useful source of further online information on Home Information Packs and estate agency can be found at the estate agency news site.

There will undoubtedly be a profusion of software packages and Home Information Pack providers targeting estate agents over the coming months and we will be reviewing these as they appear.