The common consensus is that lower fees will attract more vendors, I mean why would a consumer want to pay more when they don’t have to. This thinking is in fact hurting the entire industry as a whole. So let’s break this down, what are your vendors looking for?
- An agency that manages the end to end process of selling their property
- An agency that is able to sell their property fast. Time is key!
So really if an agent could promise that, why wouldn’t a vendor pay more than 1%? And in reality why should an agent work for 1%? The value a property professional brings to the selling process is far greater than 1% and it’s about time that was acknowledged. So how does the 3% fee actually help sell a property faster.
Well for starters, you’re more likely to get out of bed for 3% but more than that the 3% gives you room to explore more avenues when trying to sell a property. This means you can move past your checklist of Rightmove, Zoople, OTM listings, calls and repeat and move into the collaboration realm. This is often referred to as co-brokering or splits and is when 2 agents pool their resources together to finalise a property sale and split the commission amongst themselves. Usually with one agent bringing the applicant and the other bringing the property.
The rest of the world has been collaborative in this space for a long time. This allows you to close transactions much quicker. “Almost everywhere else in the world agents openly co-broker deals together to get homes sold because there’s enough fee to go around” said London-based Daniel McPeake
, European MD of Nest Seekers International.
So how can you go about doing this? Firstly, value yourself and your business. You know what you’re good at and now it’s time to let your clients know as well. How are you going to ensure that you are letting your properties out faster while also collaborating with agents? We can help with that.
At XChange, we want to make sure that you are closing deals. Get your properties in front of our agency partners based in the UK and internationally, reducing the time needed to close a property significantly. Not only that, but our platform allows for easy collaboration without having to worry about being left in the dust. We make sure that all agents and properties on our platform are vetted, just so that you don’t have to.
With no setup fees and a registration process that takes 2 minutes, what are you waiting for? You can register by following this link
We’d be keen to hear how and if you’ve already begun collaboration with other property professionals in your area, and what has that been like?