A new hybrid estate agency has quietly launched, backed by a former Purplebricks high flyer and with two territories already up and running in Surrey and Canterbury.
KnockKnockHomes.co.uk says its fixed-price but stepped fee structure and brand is targeted at the ‘prime regional’ sector of the market between approximately £500,000 and £2 million, where fees can reach £10,000-£15,000 for a million pound house.
The hybrid estate agency, which describes itself as combining what customers like of hybrid and traditional and therefore are somewhere in the middle, is charging a flat fee of £3,000 to sell a home, plus a further £2,000 if it sells for the asking price and up to a further £1,000 if it’s over.
KnockKnock is looking for experienced industry professionals such as senior valuers and branch managers to join its self-employed team of commission-only representatives.
After an initial three month set-up period, agents will receive half of each £3,000 fee, all of the £2,000 additional fee paid by the vendor if they achieve asking price and half of the additional £1,000 for going over it.
“For too long negotiators in traditional high street branches keep just 4% to 10% of an agency’s commission depending on the company they are working for, but that is not much of an incentive to try and win a higher price for the vendor,” says Stephanie Walker (left), who is advising the company.
“Our system offers successful agents the opportunity to earn up to £4,000 per sale.”
Before setting up her own recruitment consultancy, Grace and Candour, Walker worked for Purplebricks in the UK and the US.
“At KnockKnock we haven’t gone for that volume model where agents are incentivised on listings, but rather on price achieved,” she adds.
The company hopes to grow its customer and representative base in the South and South West before rolling out nationally.