Overpricing by estate agents is damaging buyer confidence and undermining trust in the housing market, according to Ian Macbeth, co-founder of self-employed agent network Avocado Property Partner Agents.
Macbeth pointed to the latest figures from TwentyEA, which show that six in ten homes listed this summer had to undergo price reductions — a trend he describes as a wake-up call for the industry.
Data from July and August 2025 reveals that 62% of properties across England were reduced in price — marking the highest level of summer markdowns seen in recent years.
Although 72.4% of homes went under offer during that same period — up from 63% in the first half of the year — Macbeth says the volume of reductions reflects a wider issue: agents are consistently setting unrealistic asking prices to win instructions, only to slash them later when interest wanes.
According to one industry founder, this not only damages client confidence but also risks slowing down transactions at a time when demand from buyers remains solid.
He said: “These figures should worry the industry. If nearly two-thirds of properties need a price reduction, it shows we are getting it wrong too often.
“With more than 72% of homes finding buyers this summer, the market is not weak, but trust is being undermined by persistent over-pricing.
“The pattern is even more concerning when compared with previous years. In the summer of 2024, 54% of homes required a price cut, already a high figure but one that looks modest against this year’s 62%.
“Rather than improving in their ability to guide sellers to realistic valuations, agents appear to be moving backwards.”
Macbeth pointed out that the data also contradicts broader indicators that suggest the housing market has been broadly neutral for much of 2025.
“That stability should have translated into more accurate pricing,” he said.
“Instead, inflated asking prices and subsequent reductions point to a growing mismatch between how homes are marketed and what buyers are prepared to pay.”
He added: “Over-pricing delays transactions, damages client confidence, and creates unnecessary turbulence in a market that is otherwise steady.
“Our own experience shows that when pricing and marketing are handled correctly, far fewer reductions are needed, and far more sales are secured.
“Agents must take responsibility for guiding sellers towards realistic valuations from the very start.”
Read the orginal article: https://propertyindustryeye.com/overpricing-by-agents-deters-buyers-and-damages-trust-says-agency-boss/
