Estate Agent Initiative

An estate agent is replacing its usual sales commission with an up-front flat fee in a bid to win business in the current housing market.

Lauristons, which has six branches across London, is offering customers the choice of paying a fee of £999 when they put their home on the market, or the traditional commission of 2% to 3% when the property is sold.

The deal, which is valid for all properties that go on to the market before the end of December, represents a considerable saving on the typical commission charge of around £7,000 to £8,000.