Lettings chain Martin & Co gets set to enter sales market - Letting Agent Today

Lettings chain Martin & Co gets set to enter sales market - Letting Agent Today

Lettings chain Martin & Co is entering the estate agency sales market with a pricing model that threatens to disrupt the traditional ‘no sale, no fee’ system – and could undercut it by up to 90%.

Martin & Co will charge no sales commission.

Instead, it will charge vendors on a menu basis, with sellers able to pick and mix the services they want.

The basic charge of £299 is an upfront fee for property details, including EPC, floor plan and photos, plus listing on Rightmove, the other major portals and Martin & Co’s own site, with Martin & Co branches also stocking the properties. A monthly fee of £29 is payable to maintain the listings.

All leads can be passed direct to the seller to do their own viewings, negotiation and sales progression.

Alternatively, vendors can choose to pay Martin & Co to handle all or any of these services.

Martin & Co managing director Ian Wilson said that the new ‘price busting’ service would cut selling costs for vendors by up to 90%.

The expansion of Martin & Co into sales was announced in February, with franchisees able to buy an additional sales franchise for just £1.

Wilson said yesterday: “Our sales service is primarily aimed at residential property investors.