With demand from property buyers continuing to heavily outweigh the volume of homes on the market for sale, Zoopla is somewhat surprisingly advising vendors to negotiate over selling fees with a view to saving money – at the estate agent’s expense.
The property portal, which charges estate agents to list properties on their platform, issued to the public via their Guide to Selling, the key things to consider ‘when choosing an estate agent’, which includes advising vendors to ‘try and get to a fee that is as close to 1% as possible’.
Zoopla’s top tips:
“Firstly, a good fee is directly linked to getting the best price and service from an agent
Secondly, the strategy from Zoopla to provide a service to their paying customers ( #estateagents ) is clearly misaligned
– Let’s charge them for their stock.
– Then screw them on their fees.
“Wow, a dangerous way to keep customers happy WTF!
“How about advice such as
-Ask your Agent what they are doing to help your move be less stressful?
-What technology are they linked to so that moving can be quicker?
“If this is what the public is being educated about then nothing will change.
“Crazy, reckless and asleep at the wheel.”
David Sansome, MD at Sansome & George: “Who in their marketing dept thought that was a good idea, get next to no Zoopla leads.”
Leigh Mellett of eXp: “Wow! Without agents, Zoopla isn’t a thing- crazy article! Pleased to see that it has been changed now but the fact it was published in the first place is concerning.”
Matt Baldock, Essex based estate agent: “Did they get the same AI to write it as GetAgent’s article? Just unreal.”
Chris Chambers of Curchods Estate Agents Shepperton Office: “Nuts!!!”
James Cocker: “They’re also hurting their buyers/sellers that use their platform with that advice too, as the lower the fee doesn’t mean the better the deal, especially if you don’t get the price a top agent would get for your home. It doesn’t look like anyone wins with big portals putting that advice out there – including Zoopla themselves.”
David Rigby: “Terrible advice from Zoopla – all the wrong angles – how about advising the seller to ask ‘how will you achieve me the best price’ to start with…”
Stephen Pye, team leader KW In Scotland: “This is really poor from Zoopla. Once again, a portal completely forgetting who its customers are.”
Gavin Curd, MD at Simon Miller Group: “This will certainly prompt an interesting conversation when I meet with my account manager next week.”
Charlie Lamdin, founder of BestAgent: “Proof if it were needed that the US hedge fund overlords are in control and don’t give a hoot about their revenue paying customers’ businesses.
“Astoundingly bad practice whatever the reason. Hey agents! Take a slap in the face, too!”
Dan Fells, director at Fells New Forest Property: “Another reason not to do business with ZPG.”
Julian O’Dell, owner, Marvellous Training Solutions: “For the sake of balance…
“Advice to estate agents when choosing a portal:
- If you’re choosing a portal, try to get a fee as close to £0 as you can.
- If you’re handling lots of properties from different outlets, a portal may accept a lower charge (because their return will be higher)
- If your portal is trying to build its customer base in your area, they may be willing to negotiate
- You may find that non market-leading portals are more open to negotiate fees than others
“Have a marvellous day”
Gary Bramall, chief marketing officer at Zoopla, issued this message, in response to Bryan Mansell, on LinkedIn: “Hi Bryan Mansell thanks very much for your message and sharing your feedback. I agree that this missed the mark and doesn’t reflect the service and value agents provide. I’d like to apologise for this and reassure you (and all others who have commented and read the post) that agents very much remain valued partners to us at Zoopla.”