Auction firm John Pye has announced heavy promotion of its new online estate agency, which charges sellers on a ‘no sale, no fee’ basis – but also ‘sale, no fee’.
The deal offers a 0% seller fee, free property valuation and full sales progression. It says that sellers are charged no fees at all.
The firm says its offering will “disrupt” the traditional market place.
To mark the launch, John Pye is renewing its sponsorship of T20 cricket team Nottingham Outlaws for another five years.
The new online arm of the firm will take pride of place on the Outlaws’ new kit this summer.
John Pye has traded for 50 years, but since 2011 has put on a huge growth spurt, expanding from one trading site and 50 staff to 23 trading sites and 450 full-time staff.
Managing director Adam Pye said: “Working with Notts over the past few years has been the ideal fit for us.
“As a growing family business, we are proud of our Nottingham roots and joining up with Trent Bridge allows our values as a family-run business to be represented on the national and international sporting stage.
“The last few years have seen some fantastic on-field successes, and we look forward to seeing the John Pye name emblazoned on shirts as the Outlaws aim to create some more special moments in the coming months.”
Nottinghamshire County Cricket Club commercial director Michael Temple said: “It’s great to be able to use our position as a leading sports club to showcase a successful local businesses growing nationally and internationally.
“The growth of John Pye Property shows that, very much like us, they are ambitious and innovative in their pursuit of growth and sustained success.
“Their support has been invaluable over the last few years and we are delighted to be supporting their expansion into the property sector.”
John Pye business development director Sheldon Miller said: “We have a long-standing partnership with Trent Bridge and are delighted that the new shirt will be worn throughout the Vitality Blast campaign as the Outlaws look to win back the trophy that they claimed for the first time in 2017.
“Our unique online estate agency proposition has been two years in development and offers sellers the ability to sell their properties through John Pye Property for free with 0% seller fee and no other costs incurred.”
The new online agency offering appears to be very similar to John Pye’s online auctions, which are free for sellers. At the weekend, John Pye Property had 53 properties for sale on its website.
Comments (7)
‘Our unique online estate agency proposition has been two years in development’
This is the bit where I thought it had to be April Fool’s.
Quite astonishing that there are sellers out there that don’t realise that the buyers will just offer lower. Maybe the sellers are unaware of the fee the buyers are paying. I once dealt with one of the auction teams that did this and unless the property was a proper ‘investor’ property then it caused nothing but trouble.
I definitely could have sold the properties for more by standard fees.
EDIT: I was pushed into using the auction by senior management. I left not too long after as I didn’t feel we were allowed to service the sellers with their best interests.
I see a purchasers fee ban looming.
Or a buyer’s fee mis-selling scandal.
450 staff and only 53 houses for sale???
Perhaps I’m being thick but if they’re not charging any fee at all for the seller, how are they making money?
I’m assuming they’re charging the buyer, in which case I believe this model was heavily criticised by the powers that be when it last reared its head during the financial crisis.
Having looked in more detail it appears that is exactly their model, as they charge a ‘Buyers Premium’
The small print goes on to say ‘please take this into account when offering on the property that this will be payable on top of the agreed purchase price’
In other words, knock this off the amount you were thinking of offering, so the seller really pays the fee after all…