Anyone used Flyp to leverage multiple estate agents?

heartofoak

Hello folks

Forgive me if this has been discussed recently but I didnt find any results for Flyp when I searched the forum.

I/we are new to house selling and have a property on the market with a supposedly highly rated local estate agent since October but not a great deal of interest and perhaps three or four viewings and have now reduced the price from offers over £275k to offers over £265k.  

Has anyone used Flyp at all and if so what experiences have you had?  I/we arent looking to improve the property and dont think it needs it for sale but curious about how they use multiple agents and what fee you have been quoted and whether they were good value.

many thanks

Herzlos

(Removed by Forum Team)

Flashy website that's low on details, shares a name with a tool for crossposting marketplace listings (ebay, etc). 

It sounds like you'll enter a contract with them in which they'll fund some house flipping activities and then try to sell on your behalf via multiple estate agents. That sounds seriously risky because if it doesn't sell you're going to have to pay whatever they've claimed the work costs, and estate agents aren't really going to like that setup.

I'm not saying it's a scam, but I wouldn't go anywhere near it. 

You'd be much better getting an estate agent or surveyor to advise on what changes you'd need to make to make the house more sellable. 

saajan_12

Their website is super light on detail, but from reading some reviews / blogs, I think the 'features' are 

1. Multi agent instead of sole agent contract
You can approach multiple agents yourself and save yourself the flyp's commission plus flyp's upfront fee. Plus multi agent isnt necessarily better - most people just look on Rightmove so it doesn't matter who lists it and it often means agents don't bother to push as the property could be swiped by another agent at any time. 

2. Single point of contact
I don't consider having a single point of contact any better, as it delays the communication (ie potential viewer talks to agent who talks to flyp who talks to seller). 

2. Transformation service to do up property pre-sale
Again you could do this yourself and save the 40% fee on any uplift plus the worry that they artificially talked down the property before the works to increase their fee. 
Also unclear what happens if the property doesn't achieve enough to clear the cost of the works - would they block any sale even if it turns out you'd rather sell sooner? 

twopenny

House sales are very poor in October to Christmas, winter generally.
If we get an early spring things will look up.

heartofoak

Thanks for the pointers Saajan and twopenny.  I'll probably steer clear then unless someone who's used the service suggests its amazing then.

JM68

Flyp did a paid promotion article on the homeowners alliance site, explaining the way their multi-agency marketing strategy works.

In it they suggested if a property was on with a single agent for 2 months on RM/Zoopla everyone would think there is something wrong with it and offer under or not at all.

They said what they do is re-list the property every 4-5 weeks but with a different agent so it's always 'fresh'.

"Oh look at this property coming into my search criteria alerts, over and over again, but with a different agent each time - it seems so 'fresh' and def not like there is anything odd, I had better quickly make an offer over asking", said no prospective buyer ever...

saajan_12

JM68 said:

Flyp did a paid promotion article on the homeowners alliance site, explaining the way their multi-agency marketing strategy works.

In it they suggested if a property was on with a single agent for 2 months on RM/Zoopla everyone would think there is something wrong with it and offer under or not at all.

They said what they do is re-list the property every 4-5 weeks but with a different agent so it's always 'fresh'.

"Oh look at this property coming into my search criteria alerts, over and over again, but with a different agent each time - it seems so 'fresh' and def not like there is anything odd, I had better quickly make an offer over asking", said no prospective buyer ever...

Also "Oh Monday 9am sharp, let me stop everything and promptly list this property  that another agent couldn't shift in 5 weeks. I already have everything I need and won't spend 2 weeks faffing looking for the floorplan I thought I already received throwing off this precise timeline", said no agent ever...