GetAgent is a new service to help property owners choose an agent to sell their home. The service uses objective criteria like how quickly they sell property and for how much.
Founded by Sebastien Powell, formerly of FlavrBox, “GetAgent exists to solve a real problem - how do you choose an agent to market and sell your home? Today, there are websites that provide guidance for virtually every important decision you can make in life. Choosing an agent to market and sell a home is not one of them”.
GetAgent provides objective data that clearly shows how agents perform in relation to each other.
“With many agents claiming to be the ‘leading’ or ‘number 1’ agent in their area, our comprehensive data should leave no doubt about who the best performing estate agents are in each area. Never again will a homeowner have to choose an agent without understanding how well they have sold homes in the past” explains Powell.
Area-specific league tables
League tables of estate agent performance are free for anyone to view on GetAgent.co.uk. Contact details are visible on each agents’ profile page, alongside an audit of their performance. For those who still cannot decide, the service auctions their business to local agents and provides the property owner with a cashback incentive.
GetAgent only makes money when a homeowner cannot decide on an agent. The service verifies the owner’s authenticity, shortlists the best local agents, and then invites them to compete for the right to sell the owner’s property.
This process guarantees one agent a verified instruction through to completion. The agents’ fee is set by GetAgent at the local market rate (typically 1.8% including VAT).
As a thank you for using the service, the homeowner receives a share of GetAgent's fee - an amount that sometimes goes up to the thousands. If the sale does not complete, GetAgent doesn’t receive its share of the commission.
"Much has been said about agency fees being too high. But like most things in life, with estate agents, you generally get what you pay for. Evidence of this can be seen from GetAgents’ league tables - no low-cost or online-only agencies top any area on GetAgent's impartial league table. Saving a few thousand pounds on fees, often means that the owner actually ends up losing tens of thousands of pounds on the sale price of their property."
Powell continues, “To put this in perspective, if an agent negotiates the sale of a home t £10,000 more, the extra commission to them is less than £200. For an owner, that's money well spent. That’s why you choose a better agent: to get the best price for your home.”
Creating a rising tide for quality estate agency
For all those local independent agents that don’t have marketing departments, GetAgent delivers instructions to them with certainty. It’s likely the big marketing spend of corporate agencies prevents them from competing for these guaranteed instructions.
"We fundamentally believe that homeowners value the advice and service of an estate agent. The problem in the market today is two-fold: lack of transparency and a lack of standards - it’s impossible to know today which agents are good, and the absence of regulations on agent performance make it a hit or miss experience. Their gripes come from a few collective experiences with less good agents. By presenting objective data on agent performance, starting in London, GetAgent aims to guide property owners to choose from agents who are proven to perform."
The service is starting its coverage of agents in London, before expanding nationwide and to other major international cities. “Short-term, our vision for GetAgent is to become the standard way people choose an agent, like comparison sites are now the norm for insurance and utility switching” explains Powell. “But ultimately, it’s about improving an industry that has seen very little in the way of innovation”.