In my direct New York Area Foxton's was never a big competitor. They were here, but I never had the opprotunity to have our paths cross. I do know that any seller that listed their property in my area with the Company would wind up expiring out and relisting with us or another company. I can't say that I saw to many deals transpire from them. Now this morning I get this email reagarding the structure and the fundamentals of the such company. I have to say - I am shocked that I am shocked to see this happen..
From the email it states that Foxtons had fired agents:
Roughly two dozen agents were summoned to an office meeting Saturday morning where they were asked to turn in their cell phones, laptops and company cars, according to the unnamed agent and other sources aware of the meeting. "They had arranged to have a cab service there, and that's what took everybody home," the agent said.
The email also stated that: Foxtons built what local following it had on its cut-rate commissions and its promise to leave more money in sellers' pockets. But the company's level of service left something to be desired, according to customers and agents with other firms. In the end, the company's low commissions may have been its undoing, because there wasn't enough money to attract buyers' agents.
The email states that Foxtons has moved out of the mid-Hudson. The discount real-estate company laid off between 20 and 30 agents Saturday and has stopped taking new listings in Orange, Ulster, Sullivan Rockland and Putnam counties
So giving a heads up - any agents that are in the Orange, Ulster, Sullivan Rockland and Putnam counties, I would scrub the MLS and search for listings within these areas - and well your creative, you do the rest.
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