A competitive pricing analysis undertaken for hybrid estate agency Emoov claims that it sells for an average £6,000 more than rival traditional and online firms.
On top of that, the survey claims it sells at an average of £13,000 above market value.
The assessment - undertaken by consultancy TwentyEA, and producing a summary report that has been seen by Estate Agent Today - analysed Land Registry sales data for properties below £500,000 during the two years up to September 11 2018.
The data was prepared using TwentyEA’s automated valuation model, with prices calculated - and compared with 30 other agents’ prices - for the specific month in which Emoov received each instruction.
Using the baseline of a property marketed for £350,000 (around the average for an Emoov-using vendor) the analysis suggests Emoov would sell for £362,911 - almost £13,000 above.
The summary seen by EAT specifically compares Emoov’s performance with around 20 other agencies.
It claims Haart came closest, selling for 0.24 per cent less, followed by Cubitt & West and Ward & Partners both close behind at 0.36 per cent less than Emoov.
The nearest online agency was HouseSimple (0.44 per cent less than Emoov), followed by Yopa (0.58 per cent) and Purplebricks (1.0 per cent less).
Of those agencies analysed, Barnard Marcus trailed in bottom spot, selling for 5.53 per cent less than Emoov.
TwentyEA is part of the TwentyCi group, which produces a quarterly Property & Homemover Report that has in recent months published a widely-accepted measure of the market share of residential transactions taken by online agencies.
TwentyCi was also recently instructed by Purplebricks to undertake research, and produced some of the data published last week in that agency’s annual report, claiming it had increased its share of the online-only market to 74 per cent.
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More proof that the newly revamped Emoov is taking the same slippery path as Purple Bricks by making controversial claims backed by Mickey Mouse data. This comes barely a week after being reprimanded by the ASA about wording for their Google Ads.
They will not see the wizard by following the Purple Brick Road...
Ludicrous 'story' about ludicrous claims.
This is very amusing, there are 16000 estate agency firms in the UK and Emoov picked 30, I wonder what drove their decision :)
'The data was prepared using TwentyEA’s automated valuation model' - enough said. Ignore.
Lies, damned lies, and statistics
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