A new estate agency has launched offering sellers the choice between an upfront fee or commission on sale. It ‘overcuts’ Purplebricks’ upfront fees by at least £1,000 and by up to £7,500 on more expensive properties.
The London-based firm, Properly, has been set up by experienced agents Mariel Roe and Michael Whittaker who both previously worked for Spicerhaart brand Felicity J Lord.
Their new business is offering an upfront fee of £2,500 for selling homes worth below £1m, and £9,000 above £1m.
In the higher price bracket, the fee can be split 50:50 between upfront and sale.
The fees compare with Purplebricks, which currently charges £1,499 in London, and does not distinguish between higher and lower house prices.
If the Properly seller does not choose the upfront option then a no sale, no fee commission of 2.4% is charged.
Properly has opened in London SW1, but Roe and Whittaker plan to cover the whole of London, using a “hub” model.
The company is recruiting self-employed agents across London to work for it, and says that they will retain an unspecified but ‘significant’ level of commission earned.
Roe and Whittaker, who have 40 years’ experience in the property industry, say that they have set up their new business after being frustrated by the “old way” of doing things, but conscious that online models sometimes fall short on customer services.
Whittaker said: “Properly is based on a different model, better suited to today’s property market
“It is a model that offers customers a choice between the best of the established agencies – and the disruptors.”
Roe said: “It is a challenging, exciting market out there. And if you are selling someone’s home or dealing with their investment, you should be doing it to the highest standards. You should be doing it properly.”