Here are two very different views of Foxtons – despite the headline writers seeming adamant that the word “hate” has to be used in close association.
In the Telegraph, Anna White wonders “why the estate agent you love to hate is losing its grip”.
She quotes its 2.6% fall in profits announced in Tuesday’s results for last year and other figures – which were given in a press release from eMoov this week – and ends by addressing the “online threat”.
She concludes: “Maybe the business will get to a point where it needs to hire a commercial property firm to sell off some of its branches to reduce overheads and compete on price with the online assailants.
“However, management might want to heed my warning: make sure you don’t sign up with an agent who over values to win the business, only to see the asking price knocked down to achieve a sale.”
In fact, Foxtons said on Tuesday that it believes there is scope for it to grow to over 100 branches in London and underlined that its strategy is based on having a highly conspicuous presence on high streets.
But compare White’s piece with this by Jim Edwards in Business Insider UK.
Under the headline “I used Foxtons, Britain’s most-hated property agent, and now I can see why they’re killing the competition”, Edwards compares the customer service between Foxtons and its rivals.
“Roshele [the Foxtons agent]went way, way beyond the call of duty compared to the other estate agents I had been dealing with.
“London’s property market is bonkers right now, and it’s a seller’s market. So property agents know they don’t have to work very hard to sell things. I had tried the smaller, local agents offices, and their service was terrible. One didn’t return calls. Another offered to show me only one place. A third wasn’t open on the weekends. Another didn’t do meetings after 5 p.m.
“Roshele, by contrast, showed me three places a day and drove me to them in her car. She met me in the evenings and on weekends. She always returned emails and texts. She really, really wanted to get a deal done with me.
“In London, it’s trendy to hate Foxtons . . . You can complain about Foxtons all you like, but there is a reason they exist – moving house is one of the most stressful things you can do, and the experience is a lot easier if you’re dealing with someone who really, really wants to help you do it. You might not like it but that’s probably where Foxtons gets its business from.”
Isn’t it about time the headline writers dropped that offensive “hate” word?
Comments (15)
I don’t think Foxtons has quite been the same since the days of John Hunt, but I’m impressed they held in there after he sold the business. I thought there would be a sharp decline, especially bearing in mind the timing of the sale and the impending GFC. (some say Hunt saw it coming). But they’re still keeping the competition honest (sorry couldn’t help myself there 😉
Foxtons’ problem is one of image rather than anything else. Due to their swish but cold styling/branding, the infamous Minis etc, and the fact their ubiquitous marketing puts them squarely in the firing line. They have become inextricably linked to the image of the ‘typical estate agent’. If anything, their proactive, ‘salesy’ approach only compounds such a problem. They are now a symbol of capital excess and seen as a facilitator of the ever growing wealth and class divide.
Of course they are not the problem intrinsically, but that has never stopped the press before now has it?
What utter rubbish this journo spouts, if foxtons were the best why didn’t he try them first! because hindsight is a wonderful thing, we all tell the public about how good our customer service is and most of us live and die by it but proof is in the pudding and seeing is believing (any more cliche’s I can use,sorry) Rochelle is probably good at the job, she may have been under pressure to perform, she may have needed the sale to keep her job or she may just have been like a lot of us (obviously not working at one of this guys local est agencies) but a bloody good Estate Agent wanting to show the public what we are really about, utter professionals so well done Rochelle and shame on you the local est agents that this journo is knocking, Oh and by the way the market is bonkers all over the country because of a lack of stock mate!!
The top 20% of estate agents have stock. They are selling them. A more challenging market highlights the poor agents who don’t know what they are doing, don’t lead generate properly every day and then complain….about lack of stock.
again jamo another crass offering of a comment you can be such a plonker
The Telegraph has form for this sort of journalistic claptrap. Anything written in their pages about the supposed rise of online agents should be read with a very large pinch of salt given that there is a family connection between the owners of the paper and the directors of a certain online agency.
Just imagine what utter b*lls Ms White could write if it came to her notice that Countrywide profits dropped 37%.
Anna white never has a good word to say about estate agents.
If she saw an estate agent helping an elderly lady across the street she would be able to find fault with it.
As for Foxtons it’s a lazy stereotype to hate them. Personally I would not like to work for them but they have a fantastic set up. Make share, profits, brand awareness and they are consistent.
I worked there once.
The sales & time management training is excellent, the ‘extra-mile’ service provided is correct, the moral codes questionable (over-value to win instruction, forge signatures where required, line your own pockets).
An article in PIE 3 days ago confirmed that Foxtons made a sale every 45 minutes and a rental deal every 21 minutes in 2015 bringing in a total revenue of £149.8m. Whilst profits dipped by 2.6% they were still £41 million! According to Anna White (Telegraph) ‘Foxtons are losing their grip’. Really?
Here is why Clients will pay high fees to sell their property…to companies whose sales staff go the ‘extra mile’ for their Vendors. They do so by going the extra mile for potential buyers. Forget portals. Customer service eats tech for breakfast!
I mystery shopped 17 estate agents in Canterbury this week, making an enquiry via Rightmove as a buyer. I gave my name, email address, mobile telephone number and search requirements. Within 24 I received…4 replies, all of which were by email. Only 1 asked for my full contact details and none asked for my specific purchase requirements. IHogh St agents need to stop bleating about online or hybrid, because they are acting like the worst of both.
Get off the email, get on the phone and behave like customer-orientated estate agents. You are not adding value by not responding to RM search requests!
I’d suggest one generic email is not a real mystery shop, but point taken. Trouble is, some agents are so inundated at the moment with enquiries regarding specific property from a hot buyer, that the generic “I’m looking fora 2bed up to 200k” just gets cast to one side. You can’t help every applicant.
I followed up with personal branch visits to 5 branches. No-one introduced themselves, only 2 gave biz cards at the end and only 1 qualified me to any degree. Shocking.
what do you do for a day job cos between looking at what everyone else is doing and your many comments on here one has to wonder
Hate them for doing what is asked of them… Complete sense.