An online Agent today announced that it has withdrawn the ‘no sale no fee’ option from it’s offering to customers.
This strikes me as a little strange. Accepting that the property market does contain property professionals, who can and do make a difference to their customers when selling and renting houses, why would you remove a fee based service that is payable upon results?
I am all for creativity and giving the customer what they want, in fact at Belvoir customer service and indeed the whole customer experience, has always been our number one priority. The problem is I don’t believe that removing a pay structure that rewards performance creates that.
The danger with some Agents already, is that they are primarily interested in is winning the instruction and not with understanding the needs of the customer and then providing the level of service that they should.
Gaining the instruction and then hoping for a buyer or tenant within the exclusivity period is not good Estate Agency.
So why then would you enter into an agreement that rewards winning the instruction and does not depend on performance? How do you guarantee that the Agent is working hard to look after the landlord or vendor?
There are many good developments that are happening and could happen within our industry, I do not believe that removing an incentive to perform is one of them, it strikes me, somewhat ironically, that it is a smokescreen designed to win instructions, rather than to fulfil the customers’ needs.
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