Proptech firm Under The Hammer Group has released a software solution called Advanced, which it claims “eliminates fall-through rates, pays agents when the sale is agreed and justifies agents increasing their commission rates”.

The software employs what Under The Hammer calls “the advanced sales method”. According to the company, the advanced sales method locks in the sale as legally bound the moment the sale is agreed upon.

“Security, transparency and certainty are at the core of the software’s goal to benefit agents in achieving more,” a spokesperson for Under The Hammer Group said.

As part of the software’s development, Under The Hammer looked at the issues facing the property industry and found that agents were expressing frustrations that their commission was being driven down to stand out in a saturated market. The company then worked on providing a solution that could allow agents to “offer more to their buyers and sellers, ultimately enabling them to achieve more at every stage of the buying process”.

The software was piloted earlier this year at Trinity Property, and owner Eric Morse-Brown said: “Previous fees were £1,500+VAT. We are now billing over £4,000+VAT in fees per transaction.”

Indy Dubb, CEO of Under The Hammer Group, said the pilot results were “just incredible”.

He added: “One Advanced Agent in September 2022 had a 466.42% increase in their commission alone, and another Agent had a 45% increase in valuation conversion.”