Greedy vendors make greedy agents (Foxtons)

Member Name: darkman2005

Product:	Foxtons
Date:	14/01/05 (3495 review reads)
Rating:

Advantages: Fantastic website

Disadvantages: Impersonal, Expensive, Pushy

You only need to see the amount of cash being poured into the new “café-style” Foxtons offices to see that Foxtons know how to sell property. The question is, at what price will they sell your property? Will it cost you your sanity?
We were lured into the Foxtons machine like many by the slick marketing façade and a promise of being able to achieve a price in excess of 10% more than any other agent. As first time sellers we learnt the hard way that a property is only worth what someone is prepared to pay for it.
We put our property on the market in deepest, dark winter and endured over 40 viewings without receiving even one genuine offer. Foxtons have a flotilla of minnows prepared to ferry around even the most casual house hunter in an approach that can only be described as scatter gun. Everyday you will hear the voice of another rookie sales executive chomping at the bit to get into your property. Be prepared to liaise with up to 3 people in one night as they each call you to find out where on earth your set of keys are. As your resolve begins to crumble, so will their forecast on the expected selling price for your property. Suddenly you will feel desperate to achieve a price that ever other agent promised, only at .5% or more under Foxtons excessive 2.5% sole agents commission. And look carefully at that contract that you signed in a greed-fuelled frenzy because it binds you in there for 8 weeks.
You only need to put yourself into the buyer’s mind to see where you are headed if you have not sold your property quickly with Foxtons. Because once you have reached a realistic selling price, the buyer still has the preconception that your property is overpriced, because, naturally, everything is with Foxtons.
When we eventually pulled the plug on Foxtons and accused them of deliberately overvaluing our property to get the signature, there was very little sympathy. Indeed we were duly labelled as greedy. Not entirely unfair.
There is no doubt that Foxtons can move property. Often the nicest property does sell through Foxtons. But if you are looking for personal service this is not the agent for you. Our advice would be to keep your expectations realistic and sell through an independent, local agent with a solid history in your area. The whole experience will be much less stressful and you’ll probably end up with more cash in your pocket at the end as well.

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