London agent Marsh & Parsons has opened its 17th office.
In true Foxtons style, the firm will be offering the first 100 customers in the new South Kensington office a 0% sales fee in the first three months. In that pricey area where the heavyweight competition includes Foxtons itself, the average saving for sellers would be not inconsiderable, around £27,000.
Peter Rollings, chief executive of Marsh & Parsons, said of the latest opening: “This is part of our planned expansion strategy, and we hope to continue to broaden our network in central London in the next year.”
The 1,700 sq ft office in Harrington Road has undergone a £350,000 refurbishment, and will boast a high-tech media wall.
The office will initially be staffed by six Marsh & Parsons’ employees, but the number is expected to grow to 18 in the long term.
The branch will be run by William Hughes-Ward, who has 12 years’ experience working in the prime central London property market, seven of them with Marsh & Parsons.
Comments
This to me is like watching the goonies and seeing a can of pepsi being shoved in full camara shot...
Its a slippery slope to non impatial views and repoting and in the end will lose you credibility in our workplace as your clearly telling us white is in fact green? to me its white and to everyone on here its white but you still feel the need to argue its green? why is that? MONEY!
Have a great 2013 more sales more lets and more sun please.
Apologies that this story from last month has re-appeared by mistake. This should not have happened. However, I decided against taking it down, as to have done so would have been to remove it altogether from the system, and since there was obviously a fair bit of interest in it, that would not have been right.
To Patricia and anyone else who may have been wondering, this was a straightforward news story. As with all news on EAT and our sister sites, stories cannot be and are not paid for, and are completely independent of advertising.
Why has this article appeared again? It is a repeat of your 10th January story. Not much happening anywhere obviously. Is this paid for advertising or can anyone join in for free publicity???
@what a shame, this has Nought (excuse the pun) to do with LSLi. M&P were doing this when they were owned by Sherry Fitzgerald.
I am a buying agent so have no affinity with any agent. Sounds like you are a disgruntled ex employee of either agency.
Peter, congratulations to you and all the team at M&P. you have build a exceptional brand within central London.
OMG hold the front page .....an estate agent opens a new office. come on EAT please!
Its all smoke and mirrors - I doubt more than 20 vendors will end up selling through them and paying no fees.
However that represents a cost to the business of £1/2m and I cant help thinking that this could be spent far more imaginativly and in doing so generate a better short and long term outcome for the business. Old dog - old tricks springs to mind.
Typo? I think its a 12 week sole agency.....
Hmmmmm
12 month sole agency- now that says it all! "We are so bad that we will stitch you up for a year"
Remind me now, why are agents hated by the public? The OFT need to look at such terrible practice.
When M&P existed as a real company, not an off shoot, they would never have pulled such a disgusting stunt!
@ Just Saying Not slate, not competitors, just sad to see such a great company dumbed to such tatics by owners LSL.
@ Anon- No “arrangement” as you would like, they have flogged it, sold out. LSL gave em money and shares to buy it, but then maybe you don’t like truth or fact, you work for LSL, so on the same level as Your Move or Reeds Raines, get over it that’s now a good as you are. Actually they charge so worse!
ends!
This was from their website when they opened near us - " This offer is exclusive to Foxtons and quite simply it means that if you are among the first 200 sellers to instruct the Canary Wharf office to sell your property, and it is sold within three months, Foxtons will take no commission whatsoever. You will have sold your house free of charge. There is no time limit on when the subsequent exchange or completion of the sale takes place, as long as the offer is agreed and solicitors are instructed by 6pm on Friday 29th September"
http://www.foxtons.co.uk/news/2006/07/new-docklands-office-launches-with-0-commission-offer.html
london agent;;really???
we tried 0% and public thought it was to good to be true. Mind you they were rural dont trust nothin but your cow types and not savvy londoners
The foxtons deal is actually as follows:
New office opens say 1st Jan.
First 100 instructions pay no commission provided solicitors are instructed by 31st March (3 months from opening, not 3 months from the date of instruction) after which time normal commission applies. It must be a 12 month sole agency with a for sale board.
I recall one vendor in my area having 35 viewings but no offers until the day the after the offer expired - then, as if my magic, 3 buyers offered. He told them to Foxtons Romeo Oscar
Guess who was MD at Foxtons until 2008 and said who wasnt setting up a foxtons Mark II.
Website is even the same font!!!
Im sure it works much like the Foxtons offer.
0% for the first 100 houses that sell. It says above for first three months.
There will be a cut off date that offers need to be accpeted by. After that cut off date you will then be due to pay the agent a fee.
Good quick way to gain some market share. I would say its highly unlikey that 100 houses would be sold in 3 months.
If they did sell a lot of homes, thats an awful lot of reccomendations from happy homeowners.
Its a win-win if you can afford to do it.
Chris Peacock - maybe - but it works. Market share is king and there are few better ways of generating it immediately. When and if a Foxtons (or M&P) opens a cold start in your area, you will see.
Not a great incentive to get those houses sold. Im going to bust a gut for you cos your going to pay me FA.
To What a shame...
I find it amazing how many agents slate the competition yet would kill to do as much business.
Jealousy is an unattractive trait.
What a shame - what are you on about?
Peter Rollings was a huge part of Foxtons evolution. I fail to see how this in anyway reflects the arrangement with LSLi (not LSL - but hey, facts are boring)
Sad to see such a good organisation slip to such lows since selling their souls to LSL
How do they equate the first 100? By enquiry, by instruction, by appraisal?
Anyroadup it will not last for long so all the boys in the area should leave their fees the same.
It's only what the idiots in Holmfirth have been charging for the last five years
Seriously though - PR is a good man - good luck
Let the Fox see the Marsh........good luck MP
Well done to Lord Rollings - I wish you and your team all the very best