HouseNetwork

Jodie1975

Hi, I'm also using Housenetwork and for the second time now! We sold a property with them in 2007 (sold in 12 days) so thought we'd give them a go again. The pictures aren't as good this time but I'm not too fussed as I can take some more and add them myself. Our house isn't quite finished and ready yet, so they needed changing soon anyway. We have had 2 viewings so far, one being quite positive.

They do give every seller an affiliate code - 5% off for the recipient and 10% commission for the seller. I have one if anyone wants it? (Not sure if I'm allowed to post it on here?).

Jodie1975

Hoof Hearted - I'm wondering if you own the other house for sale with Housenetwork in our area? Sounds just like it. We were also slightly harrassed by a certain estate agent who was absolutely livid that we didn't use him!

Hoof_Hearted

Jodie1975 wrote: »

Hoof Hearted - I'm wondering if you own the other house for sale with Housenetwork in our area? Sounds just like it. We were also slightly harrassed by a certain estate agent who was absolutely livid that we didn't use him!

'Tis true. If agents charged reasonable fees and were always truthful and honest, people like me probably wouldn't look elsewhere. They like to play games and are interested in commission first and the seller second.

During the viewings I asked each person about their position and everybody seemed quite happy to respond quite openly. I don't think high street agents have any special skill in pre-qualifying potential buyers. Out of my 15 viewings, only two or perhaps three were timewasters.

I'll check out your house!

googler

Hoof_Hearted wrote: »

'Tis true. If agents charged reasonable fees ...... are interested in commission first and the seller second.

Define 'reasonable' for us.

Are Housenetwork running their business as a non-profit organisation or charity, or are they 'interested' in their fees as well as the other EAs?

Hoof_Hearted

googler wrote: »

Define 'reasonable' for us.

Are Housenetwork running their business as a non-profit organisation or charity, or are they 'interested' in their fees as well as the other EAs?

Housenetwork clearly are making a profit but I suspect not a very big one. I paid just under £400 (inc VAT) up front, so there was no incentive for HN to work harder for me than a high street agent. Had I put my house with an agent at 1.5% and the house had sold within two weeks (as it has), I don't think £6000 & VAT is reasonable.

I don't really trust high street agents. Some over value to get the property on the books (and then suggest price cuts when it doesn't shift) or under value to get the commission in the bank as quickly as possible.

Personally, I think high street agents need to re-think their fee structures or companies like HN will continue to grow.

Perhaps others would be happy to waste £6,800 (£7,200-£400) at a time when there are a lot of other expenses to pay on moving house. Not me -- I'm over the moon.

googler

Hoof_Hearted wrote: »

Housenetwork clearly are making a profit but I suspect not a very big one. I paid just under £400 (inc VAT) up front, so there was no incentive for HN to work harder for me than a high street agent.

I don't really trust high street agents. Some over value to get the property on the books (and then suggest price cuts when it doesn't shift) or under value to get the commission in the bank as quickly as possible.

Personally, I think high street agents need to re-think their fee structures or companies like HN will continue to grow.

Perhaps others would be happy to waste £6,800 at a time when there are a lot of other expenses to pay on moving house. Not me -- over the moon.

I'd suggest there's little incentive for HN to do anything after they've got your money - you did pay upfront, didn't you? After they'd taken photos and put you on RM, what else did they do?

So you're saying that HN didn't overvalue it, and didn't undervalue it to get a quick sale? That they're always bang on the mark every time....? Strikes me that HN 'get the money in the bank' quicker than the high street agents, and that it makes no difference to them if they do undervalue it, since they still get paid, and you get less in terms of a selling price......

If you think the high street EAs need to 'rethink their fee structures', then what structure would you suggest? Or are you merely suggesting 'lower'?

What was the asking/selling price for yours?

sugarwalsh

Googler - if you look at the beginning of this thread you will see how much Hoof Hearted advertised his proprty for. If you follow the thread you will see he has sold at full, if not above, asking price.

This does indicate that it may have been under priced, but on here people are forever advising that if you get the 'right price' there will be interest in the property. It strikes me that Hoof Hearted struck the correct price range.

I too think EA's should re-think their pricing and how they operate. We looked for over a year and only met 1 ea/viewer who understood what we wanted. We bought from her. I think the main problem is the EA's appear to be working a) for the vendor and b) to get a deal for the purcahser... there is a fault there. However, I have NO idea how you would correct it.... !

Megan

Jodie1975

Hoof_Hearted wrote: »

Housenetwork clearly are making a profit but I suspect not a very big one. I paid just under £400 (inc VAT) up front, so there was no incentive for HN to work harder for me than a high street agent. Had I put my house with an agent at 1.5% and the house had sold within two weeks (as it has), I don't think £6000 & VAT is reasonable.

I don't really trust high street agents. Some over value to get the property on the books (and then suggest price cuts when it doesn't shift) or under value to get the commission in the bank as quickly as possible.

Personally, I think high street agents need to re-think their fee structures or companies like HN will continue to grow.

Perhaps others would be happy to waste £6,800 (£7,200-£400) at a time when there are a lot of other expenses to pay on moving house. Not me -- I'm over the moon.

Totally agree!

googler

sugarwalsh wrote: »

Googler - if you look at the beginning of this thread you will see how much Hoof Hearted advertised his property for. If you follow the thread you will see he has sold at full, if not above, asking price.

I too think EA's should re-think their pricing ...

Mea culpa. Posted before breakfast/coffee, I'm afraid.

I'm not sure I see what your 'fault' is. The seller hires the EA, the EA (or HN) works for the seller who hired them.

The UK could adopt the American approach, where they have Buyer's Agents as well as Seller's Agents, and the two collaborate via a universal listing service - but then there's two agents getting paid from the total commission, and the average over there is more like 5 - 6% (yes, Six percent).

That's two suggestions that EAs (apart from HN) should re-think their pricing - but no indicators as to how/what ....

Hoof_Hearted

googler wrote: »

I'd suggest there's little incentive for HN to do anything after they've got your money - you did pay upfront, didn't you? After they'd taken photos and put you on RM, what else did they do?

So you're saying that HN didn't overvalue it, and didn't undervalue it to get a quick sale? That they're always bang on the mark every time....? Strikes me that HN 'get the money in the bank' quicker than the high street agents, and that it makes no difference to them if they do undervalue it, since they still get paid, and you get less in terms of a selling price......

If you think the high street EAs need to 'rethink their fee structures', then what structure would you suggest? Or are you merely suggesting 'lower'?

What was the asking/selling price for yours?

I didn't ask Housenetwork to value the house at all. We know what the house is worth compared with similar properties locally. I take your point that HN are probably less accurate than a local agent (unless he/she over or undervalues the property), but we did avail ourselves of free valuations from local agents. We have sold, subject to contract, for over our asking price. Our asking price was more than a local agent tought we could get.

Housenetwork had no incentive to do anything once they had my money, but they did. There is always the possibility that they are a professional organisation who take their customers needs seriously. They took calls, booked viewings, asked for feedback from viewers, handled offers, sorted the memorandum of sale and so on. Everything a regular agent would do, except viewings and interviewing viewers beforehand (if they do). I bought the HN package with its limitations to save a considerable amount of money and it appears to have worked. If it hadn't worked, we would have gone to a regular agent.

I don't know how high street agents should revise their fee structure. However, I do know that if they don't, more and more cheapskates like me will look seriously at the alternative.

I presume you are an agent, Googler, trying to defend the indefensible.