Agent offers easy terms for its fees...

04 February 2009

2370 Reads
13 Comments

Written by Rosalind Renshaw

An estate agency in Northern Ireland, Gibson Estates, has launched a ‘credit crunch’ offer to sellers, who can now pay the estate agent’s fees spread over several months after completion.

The firm also prices its fees in four tiers, according to the value of the property.

Partner David Gibson said: “Why should a client who owns a £300,000 home pay the same fees as someone who owns a £1m property? Our fees are therefore scaled according the current market valuation of any property and that has proved to be a formula which does attract new clients.”

Comments

- James Mkane
Come on then John...

what is this BIG THING.

i will give you all my branches if i havent heard it all before!
- 05 February 2009 11:53 AM
- John
If I wa syou I would all shut up about this - because I have heard a rumour that "something VERY VERY BIG" is about to HIT the market at Easter and it will strenthen the top 3 agents, and the smaller ones may suffer considerably!
- 05 February 2009 11:16 AM
- phil
crazy crazy crazy!!
- 04 February 2009 19:36 PM
- MonkeyTennie
Crazy. We wait long enough to get paid as it is.
- 04 February 2009 13:21 PM
- Still Trading Ethically
Burchell Edwards Estate Agents Midlands, having been doing this for a couple of months, have now, pay later fees. Mind you, they did going into administration a few weeks back. Then they were bought out by the same owners!! I think they should have changed their name to Phoenix Estate Agents (Google: Phoenix Company). When this credit crunch is finished there might be a large estate agent group called Phoenix Estate Agents, if when in trouble with their present estate agency business ditch you creditors and start again fresh!
- 04 February 2009 13:09 PM
- jimbo
Are these guys are bonkers or what
- 04 February 2009 12:31 PM
- Jim
They could save time and correspondence with the following sign in the window..."0% Commission"
or "Sale - No Fee"
- 04 February 2009 11:44 AM
- Taga
I agree with Jim 'Business Suicide' at its best. This is what drinking too much Guiness does to yiu www.drinkaware.co.uk
- 04 February 2009 11:35 AM
- Julie
We couldn't agree more with Jim & Tim. It can sometimes be difficult enough getting fees paid in any event. Why would anyone take more risks especially in this market?
- 04 February 2009 11:22 AM
- malcolm
We already offer a scale fee. Its a percentage of the selling price. The more expensive the house the more the fee. I think estate agents have been doing this since the year dot. As for letting clients pay by instalments....you must be rich or stupid.
- 04 February 2009 11:15 AM
- Jim
One thing any successful entrepreneur will tell you, stall your creditors and chase your debtors. Doing the opposite is business suicide. Do let us know if Gibson is still trading nine months from now.
- 04 February 2009 11:12 AM
- Tim
Crazy! Why give yourself further work after you have done your job. Staight after completion is the most likely time people have going to have the money to pay.
- 04 February 2009 10:45 AM
- Terry Rogers
I certainly won't be doing this - what if the customer goes bust or has trouble to pay afterwards - we've done all the work and we're risking our fee! I certainly don't want to hold the credit risk - I am not paid to be a bank after all!!!
- 04 February 2009 10:40 AM