Potential £300k fee attracts 47 agents (so far) to help sell £30m mansion
Fine & Country Berkshire's US-style fee-sharing tactic has worked a treat, says franchise owner Sean Newman.
An estate agency in Berkshire which invited other firms to co-market a luxury mansion in return for a potential £300,000 commission payment has had 47 inquiries so far, it has revealed.
A Berkshire branch of Fine & Country caused a stir last week when it launched a £10,000 marketing video for a £30m mansion near Windsor, claiming that it was one of the most lavish property videos every produced in the UK. Hartford Manor was completed in 2018 by developer Richard Bellman of Quada.
The Fine & Country franchise, which is operated by industry figure Sean Newman, then offered fellow agents a US-style free sharing arrangement if they could secure a buyer.
Newman says: “We’ve had Agents from Newcastle to Southampton book in to see this amazing home.
“Some have asked if it is OK to take photos and videos to add to their social media and my answer is yes of course, this not only promotes the agents, but also promotes the property and could result in a potential buyer contacting the Agent.
Future of estate agency
“We have already had agents introduce buyers so this is definitely something we will do again with other listings. I really believe this is the future for estate agency in the UK, following the US model.”
Agents are still welcome to attend a viewing event to be held on Friday 12th November from 12pm to 2pm.
Those attending can make their own way there or London Agents will have transport laid on, from Fine & Country’s head office on Park Lane, leaving at 11am.
“There will be champagne and canapes for refreshments, we have even booked a pianist. It’s going to be like an episode of Million Dollar Listing,” adds Newman.
Agents wishing to attend the preview should email Georgie Lower in the first instance.
Having sold many big ticket properties over the decades, it can typically take a year to find a buyer, or during the pre-listing stage, many off market properties are never openly marketed, maybe holding a circus event is a new way of getting a result, and good luck, but discerning buyers are just that, and askew the limelight.
ML has been around for centuries in the US, but there is a reason it has not taken off here, typically two deals a month are closed by Realtors across the pond, typically agents sell 6 to 8.
Another case of “the more visible the property, the greater the chance of finding a buyer” – except that is a false belief.
There’s a limited market for such properties and if the incumbent agency doesn’t know who or where they are, they’re the wrong agency to entrust with the instruction. I hardly envisage those agencies that do know the potential buyers making such a song-and-dance about it.