Estate agency Strawberry Star is today launching a new offer to consumers, allowing them to choose how much commission they pay based on the service received.
The offer is unique to the property market and will apply to all transactions handled by the agency – from pre-sale interaction to post sale management of all owner/investor/occupier needs.
Strawberry Star, which has acquired £700 million worth of property since 2009, says it is committed to transfer the commercial focus of a sale into the hands of the UK consumer. The agency says the decision to launch the new offer was based on research showing that 76 per cent of the population has been disappointed by estate agent services and in London the proportion of let down customers is even higher – 88 per cent.
The Estate Agent Evaluations study of Strawberry Star also revealed that around 7.5 million people across the UK feel the number one frustration towards estate agents is the agent’s overriding interest in receiving commission over finding the right property for their client, with one in five respondents in London stating so (18 per cent).
Contracts with estate agents now are focused on whether a sale or let has been achieved by the agent and do not contain clauses relating to client satisfaction. In other words, the agent will get commission even if the client’s requirements have not been truly fulfilled or if they were happy with the service they have received.
Strawberry Star chief executive, Dorian Beresford, comments:
“Consumers both at home and overseas continue to be dramatically underserved by their agents. The level of unsatisfied customers here in the UK is astonishing and representative of the frankly abysmal service delivered by many in the industry. We feel it is our obligation to redress the balance and put the power back into the hands of the public by literally putting our money where our mouth is. No tie-in periods, no false promises and if the client is not delighted by our service they get to choose how much of our fee to pay.”
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Key findings of the Estate Agent Evaluations research:
- Over 4.4 million consumers felt an estate agent had broken promises
- More people in London have had a bad experience with an estate agent than any other part of the UK – with 88 per cent stating so
- Nearly one in 10 (9 per cent) of the UK felt there was a lack of transparency from an estate agent – equating to over 4.4 million people
- There is a generational difference in the quality of service, with 8 per cent of 25-34 year olds feeling pressured into purchasing a house by an estate agent – twice the national average
- 15 per cent of the London population felt an estate agent broke their promises. More than any other region in the UK
- In a regional comparison, the research found that Strawberry Star’s leading launch market, London, was the least satisfied with an estate agent, with a remarkable 88% admitting to a bad experience when looking for a property – over 4 million people
