A firm has agreed to amend its claim that it was the number one selling agent in its town in 2020, following a complaint to the advertising watchdog.
A leaflet for Penrose Estate Agents, seen during January 2021, stated “LUTON’S NUMBER ONE SELLING ESTATE AGENT 2020”.
The advertisement included a pie chart comparing Penrose Estate Agents sales to other unnamed offices.
However, this generated a complaint to the Advertising Standards Authority, challenging Penrose Estate Agents’ claim to be Luton’s Number One Selling Estate Agent 2020, and the number of properties sold.
A spokesperson for the ASA has told Estate Agent Today: “Penrose Estate Agents responded to us with evidence appeared to support the claim - however it was based on 'sales agreed' data rather than 'sold' data. There was also no information on the geographical parameter of the claim, which we thought necessary to verify the claim.”
Penrose has now agreed to amend future ads, says the authority.
As a result the complaint has been judged to have been informally resolved, and thus not requiring further investigation.
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The agent with the most sold stock in an area usually has the highest number of properties listed but failed to sell too.
What's important is the percentage of completions against listings, not number of units sold.
Either way, most prospective sellers find this type of marketing VERY dull.
So they got away with it then.
Any agent that has to boast about it's prowess is best avoided.
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