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Leading regional agent launches ‘new model’ sales firm

Hull-based Rezee charges buyers a 1.5% fee and vendors 0% and claims that its business model is the future of the industry.

Nigel Lewis

rezee estate agency

A leading light within the property industry has launched a new kind of estate agency that charges buyers rather than vendors to sell homes.

Rezee is the brainchild of George Beercock and business partner Fran Bradley (pictured) who have worked in traditional estate agency, auctioneering and property development in the past.

His family run Beercocks, which has ten branches across East Yorkshire and northern Lincolnshire, while Bradley has worked for a development company in the region for many years.

Rezee offers vendors a 0% commission service while buyers pay a minimum reservation fee of £2,500 to secure a property once an offer has been accepted, or up to 1.5% of a property’s sale value.

Beercock claims his estate agency model prevents gazumping and means buyers are secure in the knowledge that they’ll complete on a property.

Club membership also includes access to properties seven days before they are uploaded to the property portals.

Stripped back

“We are offering a hassle-free, stripped back approach to home buying that consumers have been crying out for,” he says.

“We are excited to see sellers in the local area embrace what is undoubtedly the future of the industry

“Selling a house can be an extremely stressful experience and when you take into account that one third of house sales fall through, sometimes just days before completion, then it is clear that the traditional model is in need of a re-vamp.

“In the aftermath of the recent lockdown and with people facing financial constraints, we know that now more than ever sellers are looking for genuine commitment and certainty that the sale will proceed.”

August 12, 2020

3 comments

  1. Fees are shown here without VAT – the reservation fee is actually £3000 and the % is 1.8% inclusive of VAT. Trading Standards might want to take a look. Consumers can’t (in teh main) recover VAT and so all fees etc should be shown as inclusive.

    The process uses the “modern method of auction” as its model but the agreed sale doesn’t create a two way “lock out” agreement. The buyer will lose their “reservation fee” which is, the agents income (not sure if shared with the seller), if they withdraw for any reason yet have no redress against the seller if the seller doesn’t proceed (they will get their reservation fee back but may have shelled out money on other fees – appreciate this is the case on private treaty sales). Not sure if Rezee get a fee from the seller in that instance?

    I welcome new (ish) ideas and innovation but, for me, this isn’t it.

  2. Surely this creates a direct conflict of interest; you should be acting 100% with the Vendors interest in mind and yet you are being paid your fee by a Buyer! A direct conflict of interest.

  3. OK great. But what about when we move to the model where the buyer appoints their own agent and the seller has a different agent? This is common in many other countries as we all know.

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