Martin & Co, the lettings franchise chain which recently expanded into sales, is to offer an online property sales service.
It says it is the first high street agent to do so.
Notably, it has not launched an online lettings service, but sellers can now choose between Martin & Co’s traditional commission-based estate agency service or its new fixed fee online service where – says the firm – “the vendor handles their own sale”.
For an upfront fee of £499, vendors will be able to advertise on the UK’s largest property portals, including Rightmove and Zoopla.
As a high street agent, Martin & Co’s online vendors will receive the additional support of traditional shop window advertising in local branches and advertising to a database of registered buyers.
As part of its online service, Martin & Co will handle the initial stages of the sales process, including advising vendors on valuation and how to achieve the best price for their property, completing photography and particulars for the customer and relaying enquiries from potential buyers.
Martin & Co will not charge commission on sales through its online service.
If customers decide to switch within the first two weeks to Martin & Co’s traditional services, the upfront fee they have paid will be deducted from the commission payable on sale.
Martin & Co’s chief executive Ian Wilson said: “In a first for the UK estate agency industry, Martin & Co is providing choice and offering both traditional and online estate agency services to vendors.
“While we believe the traditional service will continue to be the norm, a growing number of people are choosing to personally manage the sale of their property through online platforms.
“Our new online offering will provide vendors with the highest quality service to market their property effectively and help them to achieve their desired valuation.”
Martin & Co went into property sales in 2012.
At the end of last year, the company floated on the AIM stock market.
While the move into online agency will not affect Martin & Co’s ability to list on Rightmove and Zoopla, it will affect any decision to list on the new Agents’ Mutual portal that launches in January.
Online agents will be banned from OnTheMarket – although full-service high street agents are eligible.
A spokesman for Martin & Co said: “It’s fair to say that Martin & Co is monitoring developments with Agents’ Mutual, but no firm decision has yet been taken.”
Comments (28)
do you guys not have any work to do, registered today after scanning this site for a couple of weeks, come on guys online or offlne what does it matter, wish everyone the best and just focus on your own business and see what fruits you can reap, if joe wants online let him do it , if joe wants offline and traditional good for him, what does it matter- you guys obviously have a lot of time on your hands
I was like that…….sat and read and thought…….how much time have some of these people got…….I have very little time most of the time…….but trust me………all of a sudden……you will read something which WILL consume your every spare minute in posting what you believe or how brainwashed can someone be…………love these forums or hate them……….they are a great read with some passionate posters……………welcome to EYE and I look forward to a rant from you in due course! :0)
With regard to the various points made in this thread about M&Co's latest move possibly disqualifying them from joining OTM, remember that the group is a franchise and individual offices have total discretion as to whether they offer an online sales service or not. In addition, not all M&Co's offices do sales. A number of individual offices have already signed up with OTM and their continued membership is not in question.
Can someone please tell me what defines "Online service" as I becoming highly concerned I may need to turn the "www" off to ensure I am no classed as this……………..
As has already been said, perhaps more eloquantly by PeeBee, this isn't about customer choice its about customer deception. Robert May was defending the name of Martin & Co earlier and I can't blame him for that, but if they have worked hard to change their perception, then this will potentially undo all of that. Despite the hype PP, this isn't about technology, this is about the fact that you strip away the responsibility for selling a property and worse still you tell the consumer its easy (no pun intended) and they can get EXACTLY the same service or as Emoov claim, a better one, then in my opinion you are misleading them dangerously. The con men, the fraudsters, the crooked "local agent' will all move freely in this space because no one is ultimately accountable. If Martin & Co are as reputable as RM claims them to be, then they should be making their service and themselves more accountable not less so. If Ian Wilson is as astute as is claimed he really ought to subscribe to the view that if something isn't done properly it isn't worth doing at all.
Perhaps I am seeing this from a neutral perspective and recognising that M&C are simply doing what people like Hound have discussed on here over the months. Instead of doing something completely new and independent of their existing set up, isn't this a low cost, low risk means to explore every fee earning opportunity?
Recognising that the passive intermediary end of the industry relies on vendors still getting informed local advice it seems obvious to me that if invited into any property to value, the qualification/interview process of the potential vendor ought to show up the likelihood of an agent being there for nothing more than their opinion on value. In such cases it seems a bit mad simply to roll over and hand the instruction to the competition simply because one's established fee structure doesn't accommodate or tolerate this and increasingly promoted trend.
Its not an online model of any description…………as they have High Street Offices………………………….. Its simply we now offer a "Pay less up front and get less in return" which will appeal to those who think their property will sell VERY easily and can steer their own sale through to completion……………and if before 14 days is up, you think oh I thought it would sell quicker and it hasn't you can jump to traditional and whilst they will refund the upfront cost on completion they now have that client "more hooked than before" until completion as most would not want to lose the initial outlay………………..You have to be 100% behind a business model for it to succeed and make big bucks in my opinion, so what are their valuers promoting when out on appointments?traditional? or Online? reduced service? or full on service?………………if they are waiting for a client to say we are thinking of doing it ourselves, well they will never hear it as they have called you as a High Street Agent!…………..unless than plan to heavily promote their 2 options for selling……………
Well put Ric 🙂 . To many ***** agents complaining because they can't compete with these lesser pricing models, it's refreshing to hear a clean view on it. Here's an idea to all the haters, instead of ******* and moaning all the time perhaps get off your *** and adapt your model to suit the growing needs or falling needs as the case may be and open another revenue stream that you were perhaps to arrogant or stupid to take in the past. Better to have 100% of something than 2.5% of nothing don't you think?
Evening PropertyPerons…… Hope you are well…..forgive my jPIG comment in the other post, I was on a roll! I agree, I have said (to you I think as well) we can all offer a cheap fee with differing levels of products/features or benefits if we chose to and the client can and will decide to use what level and who they want to…………………..We are all ONLINE though and the Online model is EASY to beat for High Street Agents we just lower our fees to the same price and we instantly offer more!……Martin&Co are potentially demonstrating this HOWEVER I think this can and will weaken their brand………so for me it shows they have no confidence in their reputation and ability to hold a market share as a High Street Agent…….it is a last resort plan they have played far too early in my opinion……….and useless if they are not promoting it publically…….not promoting it says they don't actually want to do it! otherwise get 100% behind it and shout it from the roof tops……….and I agree, I have said too often and I get some agents will not like this but 100% of a lower fee if required, is far better than getting 0% and moaning the other company were more competitive on fees its not fair…………get the business do a great job and get the next one at a better fee…….adapt, offer choice listen to what the person wants and if you can offer it DO SO, if you cant OR don't want to……..SUMO! (Shut Up Move On)
sorry PortalPerson the above was addressed to.
Didn't Leaders try this a few years back??? Obviously didn't work.
IF they are so good why do they not offer "NO SALE = NO FEE"?
And RM assured me they wouldn't allow this to happen!!!!!!!!!!!
"…….a growing number of people are choosing to personally manage the sale of their property through online platforms." thanks @ianwilson we couldn't have put it better ourselves and its great to see a high street agent moving online as this will expand consumer choice and value yet further.
The Market is changing good to see a traditional agent Martin & Co have seen the future,clearly onthemarket will move quickly to ban them from ever appearing on their portal ……….. further evidence that their stance on "online agents" is beyond ludicrous.
Chris@easyProperty.com
Utter tosh, if there is a growing number of anything, its half baked business models such as your own that try to sell a watered down estate agency service as being in the customers best interest. No-one can stop you offering that spin to the clients and some may have the misfortune to fall for it, but save it for them eh!
The fact Martin & Co are entering this space too, with their track record of highly dubious franchisees who woke up one day with £15K in their bank accounts and decide to become Letting Agents, speaks volumes.
I have worked with Martin & Co since 1994. In the early days you might have been able to get away with that snipe, but certainly for the past 12 or 13 years accelerated by the appointment of Ian Wilson that is simply not the case.
Ian Wilson is a sharp and astute businessman who has raised standards across the group and demonstrated strategic thinking that commands respect.
I don't want to get into an online fight with you Robert and I accept my quip was a little below the belt, but regarding the point, anyone offering a budget online service is certainly not raising standards in the industry or their own business and frankly if Martin & Co had successfully made the transition from just offering lettings to offering sales as well they wouldn't even be contemplating this move. That particular point is evident from the fact they are not offering this budget service for their core business.
It shouldn't come to a fight but it would have been wrong of me not to defend an organisation, firms and individuals I have respect for.
In respect of this story all I can say is I understand the motivation to try this and can also understand why it might not be well received by everyone.
That I fully understand.
Have you done any background reading Chris? Lock yourself in a room for a week and do some.
There is a big difference between what Ian Wilson is doing and you are attempting. Essentially he is moving to stifle your future. Martin and Co are not condoning anything you lot are attempting; they are simply building the barriers to entry a little higher and making life a little harder for you.
Quite the opposite,they are offering a different proposition to their shop offer,promoting it alongside their shop offer actually in their shops. Thus more and more vendors and landlords will be educated on what they can do online. Martins has around 200 offices so their online offer will largely appeal and be promoted to a local audience,we differ in we are a national brand that can advertise our competitive proposition nationally. Its simple economies of scale. If you think its a defensive then they think online is a threat,if like me you think this is smart move to take advantage of a changing market then online is an opportunity,either way Martin and co are doing something about it ,so well done Martin and co.
It's surprising to see these continual resentful comments about AM, from a company who has already gone on record as stating that OTM will be mortally wounded (or words to that effect) along with high street agents.
MF – do you have kids? If so, you will be painfully aware that when a child is not allowed to have something their usual response is to say something along the lines of "I never wanted it anyway…it's yacky!" so the attitude displayed by the easyguy should come as no surprise. You know he wants it really… but that's probably just because he can't have it, rather than a tangible reason. He feels excluded, poor chap. Give him a crayon and a piece of paper instead – never failed to shut my pair up! ;o)
@peebee I don't think you will find me criticising onthemarket in any way at all other than their frankly illogical decision to bar a growing sector of the market in the misguided belief that this will somehow change the way the market is going. Any new model trying to compete with 2 very large sophisticated competitors should logically create a broad church of support from across the space. Are Martin and co now barred because they have a dedicated online offer,if easyproperty open 1 shop can we then enter the club. That was my point. Be in no doubt this is the start of more traditional agents pushing a different online offering and promoting this in their offices hence promoting the online space as a whole.Great news for the market but above all great news for the consumer who will see choice going up and fees coming down. Will now settle down and have a good drawing session,signing all the contracts of our great bluechip partnerships and suppliers…. I think crayon is acceptable lol 🙂
Mr easyProperty – the original comment was not mine so you are directing your response at the wrong person. That being said, I think that you are also being tarred with the same brush in that your Mr Ellice is the chump rattling his gums about AM/OTM and how he is going to damage Estate Agency beyond all recognition (in fairness he might have a point there – but not in the way he suggests…) and you are getting the backwash from us all as a result. Welcome to our world! ;o)
In respect of your comment "…but above all great news for the consumer who will see choice going up and fees coming down." I have to seriously question the merit of that statement. The scenario you portray would ONLY be "good news" for said consumer IF increased choice at reduced cost did not potentially affect the net result – which you cannot realistically guarantee. In fact, the reverse is most likely to be the case, therefore it does NOT herald "good news" for the consumer. Tell you where I see you and your likes (not to be read in an insulting tone, please…), Mr easyProperty – you are the 21st Century equivalent of the out-of-town Agent who used to hire the local Post Office window to pretend you had a presence in a particular location. A few vendors gave it a stab – usually because the fees were peanuts – but the great majority saw only window dressing and wanted a door that opened to a person who knew what colour the carpets were in 27 Acacia Avenue. Even the Post Offices got sick of it after a while – their staff weren't there to field the enquiries and it simply became not worth the hassle for them for the few quid income it brought in. Still – maybe this time things will be different – we'll see, won't we…? ;o)
Evening EasyProperty – Martin & Co do not have a dedicated "online offer" they have High Street offices…………. Give up thinking this is a sign of support or recognition of "online only" being the way forward ………………. THIS IS recognition that some people want it cheap and they are simply doing what I have said can be done many times before: offer a cheap get less from us offer BUT throw some extras in which "dedicated onliners" cant (I assume we say dedicated meaning truly online only, which can only be true of a company with NO High Street presence at all)…….. SO for example martin & Co -v- EasyProperty on the next head to head valuation:…………………they will say we (martin & Co) do everything you (easyproperty) do AND still have a High Street office just in case so using us gets you everything Easyproperty offer AND a traditional fall back plus real local knowledge………so you have nothing to lose in sticking with us (Martin&Co) as we have the fall back IF the online (AKA no high street) does not work and then once they have stopped you getting the business they will be selling the traditional concept more…………………converting these who went for it over to their traditional method but having pocketed an upfront fee which will be used as bait to retain the business………this model could end up with Online agents,, either having to be even cheaper to gain a market share or open an office to compete! WE ARE ALL ONLINE the debate is FEES!
I take your point PeeBee, and that explanation did cross my mind; but I still fancy that Messrs Easy, along with other on-liners, are "worried" about the damage OTM might do to their little businesses (I use the word "little" only because whenever I browse the property listings of an on-liner, there ain't much to look at). Hey-ho….. it matters not – our personal opinions aired here on EYE will not change the final outcome………. Easy come, Easy go!
I can't see anything on their website about it, so this is a case of "oh here is a possible bandwagon; lets get on board"