FIONA ANSWERS YOUR QUESTIONS

Loyalty Street has developed a unique method of collecting and analysing data to research the performance of estate agents allowing them to uncover the good and the not so good in each locality. To make their findings easier to understand agents are awarded a rating and the best are invited to the panel of Loyal Street preferred agents in each area. Homeowners who register with Loyalty Street will benefit from a great deal on their fees as well as an immediate cash reward when they register and the peace of mind that when they come to sell they will be using a top performing agent.

To make an informed choice, based on reliable information Loyalty Street compares performance based on factual data like: Prices achieved, Original listing prices, Days from first listing to sold, Fall through rates, What percentage of listed properties ever reach completion.

Estate agency is a service business in which most of the work happens after an offer is accepted. In countries such as France and USA where estate agent (realtor) fees average over 5% the online model grew quickly to 10% of the market but has stalled at that level. The average estate agency fee in the UK is 1.8%, which perhaps explains why the online model, while growing, still only equates to around 4% of the U.K. market. In Greater London it is less than 1%. We believe, like most homeowners, that the apparent cost saving of online estate agents is considerably out weighted by the benefit of having a local, professional estate agent sell your property at the best price – which is reflected in the performance data. What looks like a cost saving could end up costing £1,000s if the property is not marketed correctly.

When you decide to sell contact Loyalty Street to let us know you are going on the market. Take a look at the agents on the Loyalty Street panel and meet as many of them as you wish. Once they have visited your home simply choose the one that fits with you best and proceed as normal. Which agent you choose is entirely up to you and when you sell is entirely up to you, as is the price you eventually agree to sell at. We’ve just taken the hassle out of finding the best estate agents in your area.

Why not! Loyalty Street offers cash rewards as an incentive to the people they think are more likely to come to market in the next few years. If you agree that if or when you sell you will choose a Loyalty Street preferred agent you can have that money now. And when you finally decide to sell you will have a choice of some of the best performing agents in your area and you have the security of knowing you will never have to pay more than the discounted capped fee Loyalty Street has negotiated for you. If you have received a Loyalty Street offer it will only be available for a limited period and it is unlikely to be repeated - so even if you have no intention of selling in the near future you are perfectly entitled to accept the cash reward, provided you agree that if you ever do sell you will choose a Loyalty Street preferred agent.

Loyalty Street has arranged preferential terms which reflect our ability to negotiate on behalf of thousands of vendors. When you register you will know in advance what your fee is capped at so you have peace of mind in knowing that if fees in your area go up, yours won’t. And because the fee is capped – not fixed, you could still pay even less.

The average customer saving is calculated using the average sale average sale price, the Loyalty Street capped fee and the average agency fee in the U.K. which is 1.8%. (In the example on this website the average sale price is £960,482 and the Loyalty Street capped fee is 1.4%)

The cash incentive you will receive immediately may be very useful to help with the costs of moving or you may choose to use it to make your home look its very best ready for market. For instance, a few pots of paint and some DIY can make a massive difference to the saleability of your home but more important is getting your choice of agent right. A great agent at the right price will make the whole experience a whole lot better, so registering with Loyalty Street now will allow you to benefit from their research, their specially negotiated fees and the instant cash reward.

No problem. Once you have marketed your property for 12 weeks or more using an agent from the Loyalty Street panel you can switch to any other agent. If you decide to switch agents you must inform Loyalty Street immediately and if the agent you then choose is not from the Loyalty Street panel you must return the loyalty reward and the contract will end. What could be fairer than that?

If you decide to sell privately (not using any agent at all), all we ask is that you send written notice of your intention. Then confirm in writing once you have sold that you did not use an estate agent of any sort. You must then repay the incentive payment and the contract will end.

The panel in every area will change from time to time. Loyalty Street takes a long term view of performance and will not change the panel because of short term fluctuations in performance.

At some point in the future most people will sell the home they are in and Loyalty Street has taken the view that you will too. If you do, the agent you choose from our panel will pay us part of the fee you pay to them, which will generally be more than the amount we gave you as a cash incentive. Because we direct many sellers to our preferred agents we are able to negotiate terms that allow us to pass a great deal on to homeowners and retain a margin to run Loyalty Street, in the same way that someone with a thousand properties to sell would expect to cut a better deal than someone with just one.

Many do and they make such a difference; some really don’t and become an expensive mistake. Having trust and confidence in the organisation selling your biggest asset is so important. Some agents might flatter a homeowner with a misleadingly high valuation in an attempt to win the instruction. The top agents give honest and professional advice and will always put the vendor first. The data shows us who is who and armed with this knowledge it is possible to avoid agents who habitually overvalue, often fail to attract buyers and routinely go on to recommend a reduction in the asking price.

A great track record of good outcomes for sellers coupled with strong evidence of excellent communication, a high degree of professionalism, experience, detailed local knowledge and the highest levels of integrity.

Loyalty Street helps homeowners find the best agents and negotiates a fair deal with those agents for its members. As a result Loyalty Street funnels vendors towards the Loyalty Street agents in each locality. Loyalty Street vendors know that the agents on the panel give them the a greater chance of selling their property in good time and for the best price. There will always be agents who will flatter an owner with a bullish valuation just to get the instruction but such a practice usually backfires and the end result is often price reductions, frustration and eventually a poor result. Loyalty Street’s analysis sifts out agents who overvalue to win instructions to the benefit of vendors and quality estate agents.

No. Loyalty Street will not charge you any fees unless you break the contract.

You can switch from one agent on the panel to another agent from the panel after serving out your first agent’s minimum term, which can be no longer than 12 weeks. Once you have been on the market with one or more Loyalty Street agents for at least 12 weeks, you can then switch to an agent who is not on the panel, if you give Loyalty Street written notification and repay the cash incentive.

You can download our terms and conditions by clicking here.

You can see our key features by clicking here.

Any questions for Fiona or the team?

Please email us

or call us on 0208 0995939.