Yorkshire estate agency Linley & Simpson is launching a fee structure linked directly to what it calls the “customer experience.”
Linley & Simpson - a letting agency for more than 15 years before making a foray into residential sales last year - is offering vendors the opportunity to choose the sales fee based on the service they receive.
It has a sliding scale of five different commission rates tailored to performance. These range from 1.5 per cent plus VAT where customer satisfaction from initial instruction to final completion has been judged to be "excellent", to 0.5 per cent +VAT where clients feel it has not delivered the highest standards.
The firm is also retaining a flat rate of commission as an option, with one branch - Leeds city centre - operating only the flate rate option. All its other branches - Roundhay, Horsforth, Chapel Allerton, Wetherby, Wakefield, Ilkley, Harrogate, Ripon, York and Saltaire - will offer the new fee structure.
"This is an innovation that is over and above, not a replacement for, the single fee structure that currently exists" says Mark Christopher, the agency’s head of residential sales.
"It adds a different dimension that will appeal to many wanting to break with tradition and have a more modern and personalised approach to payment. For the first time, vendors will be handed a bigger choice - and say - in what level of commission they pay and how.
"Estate agency has been in existence for hundreds of years, yet the way it charges for its services has largely remained unchanged. The world - and people's expectations - have moved into a different era” he says.