A new hybrid set up by ex-Purplebricks territory owners says it wants to "redefine estate agency in the customer's favour."
Knock Knock Homes appears to aim at the mid to higher end of the market with a basic £3,000 fee that increases according to the agency's performance on a sale; it also uses Facebook to try to recruit agents.
The agency core fee is £3,000 payable on completion. For this the agency says on its website: “This essential package includes your dedicated local agent with their expert knowledge, professional marketing, photography and detailed floorplans. Also, we know your time is precious so we host initial virtual pre-viewings with interested parties using state of the art technology. This makes sure that only serious and qualified buyers visit your home.”
The fee then adds a further £2,000 “if we sell your home at our agreed valuation”.
It adds another £1,000 to take the total to £6,000 if the agency sells at above the valuation. This is the agency's ultimate incentive and its website says: “If we sell over the valuation we split the difference with you, but we cap our fee at £1,000.”
The agency claims: “No other agent has a fee structure that truly incentivises getting the best possible price on completion. If your dedicated agent successfully negotiates a sale that exceeds our agreed valuation, we’ll split the difference with you, up to a maximum of £1,000.”
The new website and the agency's social media output appeal to agents in existing firms to join this new operation.
Its Facebook entry specifically says it’s looking “for valuers or branch managers who want to do what they do best, without conforming to the High Street or online mentality of quantity over quality. You will be supported with all the tools and tech you need to build your own successful estate agency with no costly overheads.”
And on its website it says: “We hire customer-focused agents who are excited about shaking up the industry, and we make sure they are supported with all the tools and tech they need to build a successful estate agency business with no costly overheads."
The service is based in London's Covent Garden and run by four named team members - former Purplebricks agents Michael Booth and Nick Yuen, strategic consultant Stephanie Walker and founder Ian Townshend.
You can see its website here.