It’s a truth universally accepted that when selling a property, estate agents will charge a percentage commission based on the final sale price agreed. That’s just the way things are and always have been.
Yet why is this the case? Is this a fair deal for the consumer? Is it right that the fee has remained unchallenged for so long?
Michael Bruce, CEO of Purplebricks Group PLC (LON:PURP): Commission is an unfair and outdated model that no longer has a place in today’s market. Homeowners are entitled to a fair, transparent and convenient way to sell their homes and it is no longer acceptable to charge ever-increasing fees just because that’s the way things have always been done.
This report shows that commission is the charge people dislike paying the most when they sell. But it doesn’t have to be that way, there is an alternative: a fair fixed fee with the same personal service of the high street. We want to help as many customers as we can avoid commisery – that feeling of kicking yourself because you could have got the same service for less.