New research from identity verification leader Credas Technologies has revealed a significant trust gap in the property sector, with just 35% of UK homebuyers saying they trust estate agents with their personal data - compared to 75% for law firms.
The survey of 1,000 UK consumers found that misuse of data (77%), identity theft (73%), and data breaches (71%) are the top concerns when sharing personal information during property transactions. When asked what drives trust, regulation emerged as the dominant factor, with 81% saying they're more likely to trust businesses that are regulated, while 57% cited adherence to ISO standards.
The stakes for non-compliance are high. The research found that 69% would definitely stop working with a company found in breach of compliance regulations.
Neil Williams, Chief Technology Officer of Credas, commented: “Estate agents aren't untrustworthy - but they're working with outdated tools that don't give consumers the transparency and control they're demanding. The trust gap we're seeing isn't about intent, it's about infrastructure. Consumers trust regulated, certified systems - and many estate agents simply haven't had access to those.”
The Credas Compliance Wallet addresses these trust challenges directly. As a government-certified solution built under the UK Government Digital Identity and Attributes Trust Framework, it provides the regulatory credibility consumers are looking for. The Wallet creates a comprehensive compliance profile - including identity verification, AML checks, address verification, and PEPs and sanctions screening – that can be securely shared with full audit trails and user control.
“Estate agents now have the opportunity to close this trust gap,” Williams added. “By adopting regulated, transparent digital verification tools, they can give consumers the control and visibility they're asking for. The Credas Wallet isn't just about compliance - it's about rebuilding trust through better technology.”