Foxtons are open about their approach

• Foxtons represent the fee-paying Vendor and believe that it's their job to get as much as possible for the houses/flats that they sell.
• They give good service by being open 7 days a week (easier for buyers and more likelihood of a sale for vendors) and by conducting viewings when most agents are on holiday.
• They generally charge more but put in more effort.

I am sure there are many agents who conversely put pressure on vendors to accept lower offers because they cannot muster the effort required to get a truly good offer on the table and do not represent the best interests of the vendor who pays their fee.

You cannot criticise them for this as it is their differentiator from the competition as they see it.

The real question is, have people paid too much for their properties unwittingly?
Should selling prices be more closely regulated to prevent

a) people unwittingly paying too much for their property

b) Estate agents creating a boom bust property market (inflated prices followed by correction periods).

You could also potentially argue that because houses are so expensive it is making the need to earn big money an increasingly more pressing concern for young people, which means in the south east especially they have to work really long hours and suffer from a massively stressful property headache.

The thing with property is that it is unlike any other big purchase one makes. People can buy second hand cars that are cheaper if they cannot afford a new one. There are always a variety of prices for all budgets. Houses are now almost too expensive for all the people who really should be able to have a place of their own.