Has anyone used Foxtons introduction 0% sale fee (Lounged)

[peckhamasbestos]

Providing a service in exchange for consideration ? parasitic

Bit harsh isn?t it?

are you someone else?

[demery]

my main concern will be the abundance of wates, ludlows and foxtons cars parking up and down. i don't mind if they're spread out a little, but the last thing i want to see happening is resident complaints leading to parking permits in the area

[Louisa]

Foxtons looks fantastic too, I cant wait to go in for a coffee and pretend I am selling up. The cafe area looks rather nice, with views out to such delights as White Stuff and Green and Blue. Fantastic!

[peckhamasbestos]

now you're in two places at once!

[Louisa]

I always am

[fractionater]

interesting article in the Time today about falling house prices....

http://www.timesonline.co.uk/tol/comment/columnists/anatole_kaletsky/article2448868.ece

[Spangles30]

I have got Foxton's coming round to value my house tomorrow. Apparently, the 0% commission still stands although the firm claimed 'they had almost reached their quota'. In short, I don't particularly like dealing with estate agents full stop, but if an agent is prepared to market my property and sell it for no fee, just because it is trying to establish itself in the area then i will go for that.

I had two other agents come round and they want the standard 1.5%, which to me is a huge amount of money for selling a house when all they do is walk round a place showing people. It's not rocket science, and isn't worth thousands of pounds.

I will certainly check the small print on the Foxton's contract, and if there are any tie-ins I won't sign. I might try selling via this forum or the online website www.propertybroker.com which I found very successful last time I sold. The whole thing only cost ?138.

Earlier on here Jeremy Wrote:

> "I am surprised that somebody who claims

> to care about the area would even be entertaining

> the idea of doing business with Foxtons!"

I understand what Jeremy meant, as Foxton's has such a corporate, flashy image and there are some people round here who revel in the area's 'quirky' (?) organicy (sic) image, but hey, have you seen the amount of estate agents in lorship lane already??? Hardly quirky and organicy methinks.

I'll let you know how I get on with Foxtons!

[Spangles30]

...Oh, and another thing, I too laughed at Foxton's recent advertisement in the Evening Standard's Homes and property section - since when has Dulwich Village been SE15?????

[macroban]

> I had two other agents come round and they want the standard 1.5%, which to me is a huge amount of money for selling a house when all they do is walk round a place showing people. It's not rocket science, and isn't worth thousands of pounds.

This may now be an historical view reflecting the last few years when many East Dulwich properties for sale did not even reach the estate agents' windows.

If there is a housing down-turn we might be grateful if any agent can sell a house at all. Even at 1.5% commission.

[Spangles30]

"If there is a housing down-turn we might be grateful if any agent can sell a house at all. Even at 1.5% commission."

Are you an estate agent??? How is mine an 'historical view'? I have been viewing houses in the area and that is all the agents do. Some do not even turn up and leave the vendor to show people around. That is why I would sell privately if I had to pay commission. It has always worked in the past.

[susyp]

I bought my flat privately and it was fine, but I don't have time to show people around due to my lengthy commute so find it much easier to sell through an agent. However I've had bad experiences with big agents like Foxtons and I just don't have the will to approach them. Trying DVR at the moment, who seem pretty good and aren't a headache to deal with like my previous agent was. Also I don't want any contact with the buyers after my recent experience with buyers who knocked on my door for a second viewing, agreed an offer, and then spent 6 weeks dicking around and ringing me direct rather than going through the agent. I'd rather pay someone else to field the dicking around after that experience. However I agree that some agents don't do anything at all though - i was there for some viewings with my last agent (when they were late) and they literally just opened the door. Hoping the small local approach will be better. Don't reckon Foxtons would improve on my view of estate agents and i just can't take the stress of dealing with 12 year olds in pin stripes.

[Spangles30]

I guess you go with what works for you, but personally I would not be happy paying over ?10,000 in commission to an agent when all they do is show people round the house, and advertise your property in publications and a website (if you're lucky). I can see that the conveyancing lawyers earn their fee, but we're talking a few hundred quid as opposed to thousands.

[*Bob*]

Of course anyone can sell their own house - especially if it's a nice one in the right area. But in reality when it comes down to it there are good reasons to use an Estate Agent.

And yes, ?10,000 is a lot of cash if you take it all out of the bank in fivers and pile it up on your kitchen table.

But when you're looking to buy a house for half a million plus; when you're up against someone who's willing to pay the same as you but their sale is going through a well-known agent who has had their buyer on their books for five months - and you met yours on the internet last week; when the last negotiations for your purchase were going-up by 10k or 15k without you even really batting an eyelid; when you're in a chain and someone's threatening to pull-out and the 'private buyer' is on holiday with no-one to act smooth the way; when you've already lost-out on a few houses for any number of the infuriating reasons that you lose-out on houses - and the prices of houses has gone-up 25k whilst you looked-for another one.

Well.. ?10,000 to give you best possible chance of things working-out doesn't seem too bad.

[Spangles30]

Bob, you speak like an agent.

"to give you best possible chance of things working-out doesn't seem too bad". I am confused. Although you give examples, I do not see how agents can give any assurances of things working out. If a chain breaks, it breaks. The agents can't do anything.

Most people when they're looking for a property will also consult websites like propertybroker. You are generalising about private buyers.

[*Bob*]

Ok Spangles

Let me put it another way. If I hadn't sold my previous property though an agent, and if the people who's house we bought hadn't been selling theirs through one, I'd still be sitting in my old flat - looking for a house that now cost ?50k-?100k more. Guaranteed.

I hope this clears things up!

[Mark]

A bit of a plug for the forum here but whether your selling your property privately or through an agent please feel free to post details of it in the residential property section of this website. It's free and is hopefully a useful extra channel for you to sell (and buy) your house or flat in East Dulwich.

[Loz]

Have the fellow from Foxton's in last night. Unlike poor Spangles' experience, this one turned up exactly on time as promised.

Nice chap. Looked around, discussed possible prices and left me with a pro-forma contract should I decide to proceed. No real hard sell, which was a bit of a surprise. He did mention that Foxton's knew about the forum!

As I said in a previous post, I was very interested to see the terms and conditions of the deal. Essentially, the deal is:

1) You are tied in for a minimum 12 weeks, with a four week notice period to terminate the contract.

2) You get charged 0% if your sale is agreed before 21 Dec. 'Agreed' meaning offer accepted and lawyers instructed. It does revert to 2.5% after that. But 21 Dec is very close to 12 weeks from now.

3) You have to have a Foxton's 'For Sale' sign outside your property.

4) It is a sole agency agreement.

I was really looking for things like 'ready, willing and able buyer' or "sole selling rights" clauses, but it seems to be free of such trip ups.

I was initially dubious, but this might just be a good deal.

[peckhamboy]

I don't doubt that if you are one of the lucky ones to sell quickly and get the 0% it's a good deal. I guess the main things to watch for if you go with it are:

1. Will they let you know when the 200th offer has been accepted? And assuming you are not one of the 200, are you prepared to pay the standard fee? I don't know how that compares with other estate agents, but 2.5% seems quite high for sole agency.

2. You say minimum 12 weeks - presumably it rolls over indefinitely unless you give notice to terminate, so you find yourself staying with them through inertia.

3. Four weeks notice is quite significant when you are trying to sell your house quickly (especially on a 12 week contract). Can you give notice after 8 weeks (to terminate after 12), or not until 12 weeks has passed?

[downsouth]

ladyruskin Wrote:

-------------------------------------------------------

> They also have Denmark Hill as SE3 on their

> website (which is Blackheath!!)

Or Kidbrooke.

[Loz]

Peckhamboy,

1) The form I have here has the terms and conditions. The 0% offer has no mention of the 'first 200', just the conditions (paraphrased) I put in my post. As my form has the 0% offer, I consider that legally binding. Mind you, they probably employ better lawyers than me.

2) Correct, but that's standard with all estate agents, AFAIK.

3) You can give notice at 8 weeks, but not before (i.e. you can't give them five weeks notice after seven weeks of the contract).

[peckhamboy]

Fair enough - I thought someone else had posted on here that the offer only applied to the first 200 sellers or something? If the offer applies to anyone and everyone who instructs them on sole agency basis and accepts an offer before 21 Dec it looks a better deal, although 2.5% still looks high if you don't manage to sell in time.

What are you selling by the way? I have a couple of friends who are looking in the area (and my commission is very reasonable!)...

[Loz]

They did say 200 on the advertising flyer they sent around. I imagine they'll pull it as soon as their books/window looks full.

We're selling a 2 bedroom house on the St Francis Estate. Two double bedrooms, nice sized reception room, garden and off street parking. Nice and quiet area, 5 mins walk to both ED station and Sainsburys.

I'll stick up full details on the property thread sometime soon, but if you want more before then, PM me.

[SimonM]

Walked along Underhill today - three Foxton's signs up, including one on a house that has been on the market a while: then saw 2 more signs on Overhill. So if this is typical there must be hundreds of properties in ED hoping to qualify in the Top 200..

Also had a look at the new office which is all but ready to open. I am totally appalled at the cynical and blatant way this company and/or its architects has ignored the provisions of the Disability Discrimiantion Act and installed an 8cms high step in the somewhat narrow doorway even though a flat or ramped entrance would have been simple to incorporate in the new building. If their atttitude to the law of the land can be so cavalier in this respect, then perhaps they may sail close to the wind in other ways also...

[tommy]

Saw my first Foxtons sign on Maxted Road - booo

[Ultraconsultancy]

SimonM - someone in the planning office at southwark should be up to speed on DDA as it applies to commercial premises - on the face of it would have thought if application had beeen granted for change of use and a new frontage, then current DDA requirements ought to have been enforced. i'm not really a Foxton basher [no more so than any other estate agent!] but as a retail consultant of sorts I do get very angry with 'big corp' flouting the law like this.

Ultraconsultancy