The war between AllAgents review website and Purplebricks has continued with the site naming the hybrid agency the “worst rated one star firm” for 2017.
In a statement this morning, AllAgents says the worst rated one-star agencies were: 1 Purplebricks; 2 Romans; 3 Entwistle Green; 4 Farrell Heyworth; 5 Goodchilds.
The best rated five-star firms were: 1 Bradleys; 2 Ryder & Dutton; 3 Northwood; 4 Manning Stainton; and 5 Reeds Rains.
In other research issued by AllAgents, it was said that the number of consumers dissatisfied with agents’ valuations of their properties rose to 27 per cent “saying they were way off the mark” - up from 20 per cent in 2016.
Research from AllAgents, which says 60,000 consumers posted reviews on its site in 2017, suggests 38 per cent of reviewers were unhappy with the fees they were charged, up from 30 per cent in 2016.
“Everyone accepts a little wiggle room over price, but this sizable increase in valuation dissatisfaction is extremely worrying for the consumer and the industry as a whole. If estate agents are getting it so wide of the mark questions need to be asked about why they’re overvaluing a property so significantly” says allAgents’ Martin McKenzie.
“Are they doing it to try and secure the business? Or because they don’t have a proper grasp of the real state of the market? There are clearly some rogue agents out there, trying to deceive vendors by hiking valuations in order to get their business.”
AllAgents says it saw a 23 per cent increase in the number of reviews posted on the site in 2017.
In September AllAgents suspended reviews of Purplebricks, saying it wanted to avoid possible legal action: Purplebricks had sent legal letters to the review site over a number of disputed statements about the agency’s performance.
When AllAgents reinstated the reviews late in 2017, Purplebricks said: “We have asked on numerous occasions for evidence that would allow us to verify whether or not they were from genuine customers, AllAgents have been unable or unwilling to share this data with us for reasons best known to themselves.”
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"AllAgents have been unable or unwilling to share this data with us for reasons best known to themselves" - Am I missing something?... Surely it's called data protection.
I think it's 6 of one half a dozen of the other. It's getting silly now.
Ha ha ha ha, Purplebricks worst agent in the UK!!!!!!! I’m going to ring my local paper right now and see if they will spread the word!! On the other issue of overvaluing it’s simple: agents are not getting enough instructions so many of them are overvaluing to impress the vendors and then tying them in on 20 week contracts in which they ‘talk’ the price down to the correct level. Disgraceful. If we lose an instruction to a competitor we suggest two ideas to the vendors:
1. Go on with the other agent but do a ‘short tie in’ i.e. 4 weeks so that when the penny drops that they have been had they can switch to a more ‘honest’ agent.
2. Go on with the other agent on the basis that the fee will be paid if they achieve the figure they valued at but any less they don’t get paid (with maybe a 3% tolerance).
If the agents were honest in the first place they wouldn’t have an issue with either of the above.
Mr and Mrs Seller. Have you been tempted to consider an online agent like PB? May I observe, whilst the low fee may be understandably tempting, that your £1000 will have been paid upfront and thereafter, PB have no incentive to sell your home, as they already have your money. I, on the other hand, along with my experienced colleagues, are going to work hard to not only sell your home, for the best possible price, in today's market, but also check out your buyer and the potential chain and monitor the sale to Completion. We only get paid on results. No sale-no fee. Unless of course you would like to pay my firm £1000 upfront. No, I thought not. Why do so many agents worry about PB. You are far, far better than them. You should be increasing your fees, for the service you provide.
Everyone's jumping to the probable conclusion that vendors are unhappy with over-valuation. It is just possible that some maybe unhappy with agents giving realistic values that the vendors consider too low. Just saying.
Simon, I agree, but it our job is to educate not simply do whatever to keep vendors happy. We’ve just sold a property at £446k that was valued initially by two corporates at £725k and £750k! This is plain ridiculous. The lack of property is simply increasing the b****hit from agents trying to win instruction. This is simply not fair on vendors, on a daily basis I look like a villain for valuing honestly and with integrity. If you are an agent overvaluing on purpose take a look in the mirror, how would you feel if your parents were treated like this?
Action can be taken against agents who overvalue, after a sale has been completed in just the same way as if it's been undervalued and then the buyer immediately re-sells at a good profit. I'm not too interested how it's done as I'm no longer in the business. All agents recently e-mailed me asking if I have looked at my recent 'rating' on their site. I've not been in business for the best part of 10 years but they still can't seem to remove me from their database.
P.S. I have purchased a property through Housesimple and have no complaints so there are online agents who do try and do a decent job.
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