New ‘guaranteed buying’ service aims to deliver extra revenue for agents

Estate agents listing with OneDome and Nethouseprices property search websites will be able to offer their customers that are in need of a quick sale, have a broken chain, or are looking to part exchange property – a ‘guaranteed buying’ service, after a new lead generation partnership was struck with Spring, a homebuying and part exchange service.

Agents listing with the property search websites will be able to use the Chain Repair and Part Exchange products powered by Spring, and in turn earn an introducer fee. The same agent will then have first refusal to resell the property once the property is legally owned by Spring, allowing the agent to double their fee per transaction.

The new deal, which was agreed with a view to bolstering OneDome’s end-to-end property offering, will allow partner agents to offer the nationwide ‘guaranteed buying’ service to all types of purchasers and vendors on both freehold and leasehold properties in any condition, in any location.

Babek Ismayil
Babek Ismayil

OneDome has also announced that it is working to create a panel of selected estate agents called ‘Premier Agents’ and offer them exclusive access to properties for sale by Spring and other partners.

Cormac Henderson, founder and CEO of Spring, commented: “There are clear synergies between the two brands in terms of wanting to make property transactions faster and more hassle-free. This deal is further evidence that the instant offer model has enormous potential across the UK, as consumers and agents alike, seek alternative options.”

Babek Ismayil, founder and CEO of OneDome, added: “Our mission is to make homebuying simpler and faster for everyone involved. We believe that this partnership will help to unlock additional transactions and revenue for our estate agent partners, while helping customers who have specific needs and requirements.”

 

 

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5 Comments

  1. Woodentop

    That will go down well for an agents reputation?  
     
    Be involved in under selling the vendors property? and then re-list it for a higher price or there is nothing in it with the buying company? Maybe above board (not if you don’t get the disclosures all correct) but try stopping the gossip on that one.    

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  2. JohnJames

    It’s all no-obligation and very transparent so no reputation problems at all, we’ve used it here at Barnard Marcus.

    They agreed to the 100% sale value with us, then apply a discount – and it’s take-it or leave-it without penalty.

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    1. Woodentop

      then apply a discount

       

      Which was what?

       

      And of course follow up with the Money Laundering Regulations, Estate Agency Act disclaimer and Consumer Protection Act. Take it or leave it, isn’t that simple if you do not follow due process of diligence and that should be a concern for those agents who have limited knowledge with these types of operations and be wise to have a legal adviser look at ‘the terms’ they are getting into, for assurances.

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      1. JohnJames

        They paid 93%, exactly what they quoted. They also paid the agency fees and legals costs for the vendor – so closer to 95% with that lot added. It’s not for most people to sell at below-value but it suited our vendor TBH as they really needed to sell and move fast (same month) or they’d lose the house they were buying.

         

         

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      2. JohnJames

        “And of course follow up with the Money Laundering Regulations, Estate Agency Act disclaimer and Consumer Protection Act. Take it or leave it, isn’t that simple if you do not follow due process of diligence and that should be a concern for those agents who have limited knowledge with these types of operations and be wise to have a legal adviser look at ‘the terms’ they are getting into, for assurances.”

         

        Completely agree with you on that Woodentop. We did the same, all OK in this instance.

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