For many vendors the process of selecting a property marketing professional to help sell their home is an arbitrary one, but a new website is aiming to change seller habits and increase agents transparency at the same time.
All too often homeowners contact only a small selection of agents, based on the for sale signs prominently displayed in their area, or the high street branches that they pass when going about their daily business. Many are tempted to place their home with a certain property marketing company based on the valuation issued in the initial stages – but don’t discover the details of their property marketing package until they are at least informally committed.
Property Marketing Firms Forced to Reveal Terms
Now a new venture is hoping to put the power back in the hands of the sellers, by forcing agents to reveal their terms and methods before being entrusted with the sale. The website ipostcode.com allows those with homes to sell or let to list their property publicly and invite bid from the agents who feel they may be in a position to market the property to their clients.
Property marketing professionals will have to reveal their fees and commissions as well as detailing exactly what it is that they have to offer – for example, will they commission professional property photography and virtual tours as part of the property marketing package?
Lifting the Lid on Property Marketing Practices
Co-founder of ipostcode told Property Wire that the site hoped to help improve the level of transparency in property transactions and said: “Agents can be too guarded about how much they charge. We want to lift the lid on estate agency fees and make the process more competitive, encouraging them to pitch upfront for the business.”