In a clever marketing move, Sean Newman from Fine & Country in Windsor is dangling a £300,000 commission carrot in front of his fellow agents.
Yesterday EYE carried the story of ‘the best property video ever shot in the UK’, F&C’s £20m+ instruction, Harford Manor, in Berkshire.
We noted that the property is not being put onto Rightmove or any other major portals but now it looks as if Newman is banking on the interest (and, dare we say, greed) of fellow agents in helping him to come up with a purchaser for the place – which has already been offered on the market at £30m with another agency from 2018.
Newman says:
“We are moving towards the American model of estate agency where estate agents work together and share the fee, so we are offering estate agents in the UK and overseas 1% of the sale price. We are looking to achieve £30+ million for this home, so this could be worth £300,000 to the Agency that refers a buyer.”
This £30 million property is being launched at an attractive asking price of ‘Starting bids £20 million’.
“I am looking forward to collaborating with other agents to show that by working together, the seller can get maximum exposure to the widest possible audience of buyers and achieve the best sale price for their property.
“Hopefully this will become standard practice across the industry and will encourage agents to charge a higher fee, so they can offer a decent split of the commission.”
Here is the team that created and starred in ‘the best property video ever shot in the UK’.
Comments (9)
Has anyone actually watched the video? I was up to double figures in glaringly obvious snags before we even entered the house (Appalling water staining to the brickwork/unfinished steps up to the front lawn/really cheap materials in countless places/long grass and weeds recently trimmed – when the developer should have used turf).
If the property has been on the market for at least 4 years at £30m, why do they think that someone is going to pay £30m now.
Great video, but I don’t see £30m worth; maybe cheaper to get a friend to obtain fake ID and sell it to you for £131,000!!!
Erm… at the risk of backlash – to which I openly invite…
If the appointed ‘Marketing Agent’ is the right one for the job, then why would they need to dangle the carrot of a hefty chunk of the spoils for finding the buyer of this home in front to what would appear to be thousands of other Agents?
And on that point –
“we are offering estate agents in the UK and overseas 1% of the sale price.”
Is that one percent inclusive or exclusive of VAT? A glaring lack of detail here – and one for which the difference be 16.67% of the total offered potentially going straight to the taxman.
Another question – does this offer invoke ‘Rule 5c’ of the TPOs Code of Pratctice (or PRS equivalent):
“You must not instruct other agencies to assist you in selling a property without the seller’s permission. If the seller gives permission, as the instructing agent, you are liable at law for the actions of the sub-instructed agent and will be held responsible for any failures to comply with this Code of Practice by that sub-instructed agent even if that sub-agent is not a TPO Member”
and if so – is the vendor aware, as is the requirement, that thousands of Agents worldwide are being invited to “collaborate” (albeit it seems through nothing other than a Press Release…)?
All valid points, though they serve as a mere inconsequence to Sean indulging in some gratuitous self promotion.
Trevor would have something to say about this!!! He’s been a big advocate of multi listing for as long as I can remember.
Was I dreaming that there were lots of comment earlier this morning which have all disappeared?!
Video cost so much they could only afford a team shot with an iPhone selfie.
Some people are so poor, all they have is money.
Sorry, I’m confused by your post. Who are you taking a swipe at?
The homeowner? Because they have a lot of money? Are you so certain that they feel unhappy or unfulfilled that you would consider them poor? Or maybe you are unhappy with agents who charge a large fee for selling a high-value property (something that takes a lot more time and expertise than the usual 3 bed, 1930s semi)? Don’t we all go to work to sell houses and make money, rather than for the sheer joy of it?