Dumb Question-Foxtons

What exactly is Foxtons, and what makes them different from MLSLI, or Century 21, for ex?

Im a novice at the real estate game.

Re: Dumb Question-Foxtons

I dealt with Foxtons and HATED them. They charge 3% but you never work with one real estate agent. There are many that show your home. I like to work with one person that knows you and your home.

I actually waited until my contract was up to sell my co-op with another broker because we had so many problems with them. I also heard that many RE agents don't like dealing with them because they don't get a big commission (that's what a RE agent told me).

Re: Dumb Question-Foxtons

my mom used to work for the Department of State (who is in charge of licensing realtor). She told me to steer clear of Foxtons. The amount of complaints was ridiculous!!

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As buyers, we had a deal fall through on a home that was listed with Foxtons. It would take me forever to tell the story but I've told portions of it in my prior posts. I would never even bother to look at a Foxtons listing after what happened to us. I don't think they do anyone, even the sellers, a good service.

Re: Dumb Question-Foxtons

Foxtons runs themselves like a business. With all the other real estate companies out there (well most) the sales people are independent contractors - they all work for themselves, and the only time they get paid is after a closing when they get a comission.
Foxtons salespeople are actual employees of the company. This means they have to work a certain amount of hours a day/week and have to meet sales criteria set by the company. They get a salary/car/phone/computer, etc all paid for by the company.
They charge a lower comission than the other RE companies out there, so the seller would have to pay out less in comission at closing. They pay less in their comission split with other real estate companies though, so compaines like Century 21, ReMax, Coach, etc. do not like to work with them and will be reluctant to show you a Foxtons house. So for the seller, they are having less people seeing their house if they list with Foxtons.

The Foxtons busines model started in England and has worked well there, but hasn't had the same success here.

Does that explain it ok?

Re: Dumb Question-Foxtons

I have heard nothing but bad things about them- they get you to sign the contract- but then don't really market the house

Jake was helping a nice couple with a loan for a new house they bought - but there old house was listed with Foxtons- they were even showing or marketing it- or calling the couple back- it was a nightmare for them

Re: Dumb Question-Foxtons

I heard really bad things about them! from the buyers perspective, they check your credit and financials without your permission and then tell the sellers how much they think the buyer can afford

ETA: a friend of mine used them to list her house a few yrs ago and HATED THEM! they brought NOT 1 person to see the house. they gave her balloons and a sign for open houses and no one showed up! they did NOTHING. she got out of the contract with them and switched to another RE agency, her house sold immediately after that.

Message edited 1/24/2007 10:14:26 AM.

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I have also heard negative things, however, I do love how they have the floor plans of the houses. I think MLSLI should have that!

Re: Dumb Question-Foxtons