I'm thinking of using FOXTONS Estate Agents

losgiganteskid

As the heading suggests, i'm contemplating using Foxtons Estate Agents to sell my flat just outside London. I've heard some horror stories about this firm, anyone had any dealings, good or bad ??

Biggie

I know someone who said they use to use Foxtons over valuations to their advantage.

Basically find a house via foxtons which is normally over valued (say 10%)

put in a very silly offer of 25% below asking price

wait

buyer gets desperate because they can't sell at over valued price

put in an offer of 30% below asking price......

buyer gets even more worried and desperate.

and eventually accepts very low silly offer of 15%-20%

Doozergirl

They're all much of a muchness really. Lots of stories about Foxtons but none of them are very different from the other. There was a program nearly two years ago now about their sales tactics etc which was mostly hot air.

I think it is better that the agents are on commission for selling property - many aren't and it shows in their apathy. Foxton's people are heavily targetted and motivated to sell so you could do worse.

However, you will pay handsomely for the 'privilege' of using them. Friends successfully sold through Foxtons and hoped they'd be slick, which they weren't really. I used an agent where the manager was ex-Foxtons and they were an absolute breathe of fresh air. I genuinely felt that they'd earned their money and that I did virtually nothing. I'm often chasing agents.

Always base your decisions upon how you are treated as a buyer not by what happens when someone comes to value your house and schmooze with you. Also don't base it on the highest valuation - even if you want to market at the top valuation the other agents will market at the price you want as long as they don't feel it's totally stupid.

Most important for me is getting value for money. A fee like 2% + VAT would make me run from any agent.

losgiganteskid

Foxtons want a commission of 2.25% on a sole agency basis and a whopping 3.00% on multiple agency - do you think it poss I could get a better deal with them that 2.25%

Doozergirl

losgiganteskid wrote: »

Foxtons want a commission of 2.25% on a sole agency basis and a whopping 3.00% on multiple agency - do you think it poss I could get a better deal with them that 2.25%

I just passed out.

Use someone else. In London it's really hard to get 1% but you can get 1.5% without too much trouble.

Biggie

I wouldn't pay more then 1% espcially arround London

Little_Chicken

I bough - and sold through Foxtons when we moved - but it was 7 years ago. We had no problems, the thing is they've got lots of marketing power behind them, and the place we sold was taking a while so we had to use them really. They recently valued our house and I thought it was slightly on the low side, so not sure if I agree with the over inflated valuations that some people are mentioning. Good Luck!

otter1_2

I can't stand them and decided, as a buyer, that I was going to avoid them no matter how nice the place looked. I was eventually tempted to go to see a property on their books which turned out to be much smaller than it looked and much much more expensive than larger properties in the area. Couple this with being virtually forced to see their live-in mortgage advisor (who was a total a***hole who couldn't stop bragging about how many BTL mortgages he had) and being pestered for two weeks with constant calls throughout the day and I renewed my vow and will never go back.

Of course, it helps that I found somewhere else and don't need to use them at the moment.

I have found their agents to be aggressive, obnoxious and rude. As a buyer I was made to feel like I was wasting their time, despite being in a very strong position, financially. Sometimes I look at their properties online if I want a good laugh about how anyone could be so foolish and greedy as to think that their valuations are realistic.

I don't make a habit of bagging people online, but Foxtons are so vile that they deserve it.

Having said that, use them if you feel you're going to benefit. *shrug*

CIS

They have a reputation

http://www.google.co.uk/search?hl=en&q=watchdog+foxtons&btnG=Google+Search&meta=

gingin_2

Friend is selling a place in South London, they promised they could get her £30,000 more than any other agent, so of course she signed up with them. Had to sign a 6 month sole agent contract at 2.25% and of course it's not selling and she is stuck with them....

ds1980

Doozergirl wrote: »

I just passed out.

Use someone else. In London it's really hard to get 1% but you can get 1.5% without too much trouble.

Really? I find that very hard to believe. I have lived from ne london now over to nw london and have never paid more than 1% inclusive of vat. There are too many estate agents for people not to get this kind of deal. Barter harder.