The Modern House commission - worth it? Is it negotiable?

[Nightowl1234]

I am looking for advice from people who have used The Modern House previously.

We are thinking about selling out apartment. It is “The Modern House” standard/quality (IYKWIM) and they would like to list it. The only issue is their commission, which is 2 %!! This is significantly higher than other agents in the area, who ask for 1 - 1.5%. The difference in commission would be thousands of pounds.

The Modern House say they are worth it as they command a premium price as a “destination” agent/website?

Has anyone used them? Do you think they are worth 2%?

And has anyone had any luck negotiating their commission? They have told us they don’t negotiate but I am not sure that’s true - I have never known an agent not to negotiate!

They certainly have pretty pictures... Do they stage the house too?

I don’t think so!

Is the design of your apartment so unusual and outstanding that it would draw people in who might not otherwise have been looking in your area?

I think that is the only USP the Modern House /Inigo might have over local agents - their listings are seen via instagram by people all over the country/the world, many of whom are not even in the market to buy somewhere, they just like looking at interesting design but they could occasionally be tempted by an amazing property.

Most house/flat buyers are driven by location more than anything else. I can see that some of the amazing modern houses they list which are off the beaten track might attract buyers who would otherwise never have been looking in that area, but if you have a stylish flat in a town/city with an active real estate market anyway, I am not sure what they can really add for you.

I get the feeling they price properties quite high, which might work when they are unique one-offs, but not when there are comparable places nearby.

It may be true they don’t negotiate. We used Savills in central London a few years back and they wouldn’t haggle either and we tested them on it.

We paid a high rate & it was worth it as they were excellent. I do think Modern House use brilliant photographers as their photos are always stunning. I don’t know about their service as never used them but they do have an aspirational vibe if that’s what you’re going for.

That’s a really good point. We are in a central location so perhaps you’re right.

Thanks for this input. Do you recall what Savills’ rate was?

OTOH a central location would be somewhere likely to sell easily at a premium to an overseas buyer swayed by the insta lifestyle pics…

I think it was 2% which did seem high at the time but they earned it by the end ( tricky buyer).

We used the Modern House to sell my grandparents house about ten years ago. They were very good and got a (very nice) buyer quickly and a good price. However a lot could have changed in a decade! Theirs was an architect designed 1960s bungalow in a very desirable part of Bucks but it needed modernisation and a lot of less discerning buyers or EAs would have seen it as a building plot. I do think they take excellent photos and promote themselves well so in the current market I suspect it would be worth the extra but who knows.

I adore The Modern House, Inigo and the sellers who
go
out to preserve history, design.
Rightmove is my fave app
I look at many properties daily.
The Modern House photos, styling and write ups are enganging, well researched and most def the best in business by a million miles.
I'd probably use them only ( wasn't aware of huge difference in commission ) if my property would attract a
niche buyer only and was in a location that you would NOT expect their usual buyer to look.
As in the property matters more than the location and would be difficult to
shift if you weren't a Modern House /Inigo afficionado.

I used them some years ago on a property that hadn't sold through a "normal" EA. They were good, got a lot of people through the door and were very sympathetic - although not particularly useful - when the buyers dragged out the sale. At the time, there were two commission points, a higher one for full EA services and a discount if you did the viewings yourself, which I chose. I'd definitely consider using them again if I had a similarly unusual property to sell.