High street estate agents accused of losing interest in property after two weeks

An online agent has accused high street firms of losing interest in a property if does not receive offers within two weeks.

The claim is certain to be totally refuted by hard-working high street agents.

HouseSimple has made the claim after polling over 2,000 vendors who sold a property in the past 12 months to ask what they thought of the service they received from the estate agent who sold their property.

Half felt the estate agent’s commitment to sell their property dropped off considerably after the initial couple of weeks of marketing, and by the second week they felt they were already having to chase the estate agent for updates.

Despite that, half rated their agent at least 8 out of 10 for service.

And while online agents make much of not having to have high street premises, the poll shows that over three-quarters of vendors visit branches.

Sellers were also asked about the price their agent put their property on the market.

It is not uncommon for high street estate agents to promise an unrealistic sale price to get sellers signed up, only for the agent to quickly recommend a price drop once the property is marketed.

Just over half (51%) of the sellers polled revealed that their estate agent suggested they drop the asking price soon after marketing their property.

More than a fifth (21%) of those polled also claimed that at least half the people who came round to see their property were time wasters with no intention of ever making an offer.

That figure rose considerably in London and Wales with four out of ten sellers convinced that 50% or more were time wasters.

More than a quarter of sellers polled (27%) said that their estate agent only secured one offer for their property.

However, 49% rated their agent highly for service, giving the firm at least 8 out of 10.

Just over four in ten (42%) said they did not think the agent was worth their fee, and 28% said they did not think the agent tried hard enough to sell their property.

When sellers were asked if they had ever visited their agent’s branch, more than three-quarters said they had, with 23% saying they had not.

HouseSimple offers two packages, one of £9 a week plus a success fee of £495, and the other £395, which sellers can pay on completion of sale or at the end of 12 months.

Originally posted here.

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