Acorn Estate Agents
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Abrupt agent, complicated process
The initial agent was quite abrupt and did not honour us with much time when viewing the flat. The answers provided was quick and he was just at the door to leave the flat. Acorn is using another company for referencing process and will ask you to contact them yourself, meaning that you have to present your personal information to acorn and another company. They initially asked for certain documenta and then .. for more if the evidence is not satisfactory. Once all the references are completed they then assess your income (they don't do it once acorn receives your documetns, but they wait for referencing company to tell you that you cannot afford it - that is poor service and waste of your time). Other real estate agencies do everything internally and tell you once they have seen your bank statement that you cannot afford it. The fee is refundable and not extremely high (120 per person), although they apparently take up to 5 weeks to return the referencing fee should you not get a house (they should probably pay you extra for holding the cash that long). Overall, average service. My answer: Thank you for your reply. You are not correct saying that the fee is usually non-refundable. In the email says: 'refundable' if the landlord or agent withdraws the offer, but not if the tenant withdraws the offer. If you claim that you are doing a favour to a potential tenant by refunding the money I think it just your way to present Acorn in a good light. If you had not refund the money that means the client loses 120 pounds with no gain. And that is a way most real estate agents take advantage of tenants looking for houses, take high fee and retain it even if tenant does not get the property. Why the agent should wait to close the deal to ear money? That does not sound like a great business practice for tenants no matter how you explain retaining 120 pounds for giving nothing at the end. Usually agents say it is 'to cover our expenses'.. but 120 per person is potentially quite a lot if you the deal is not completed. Additionally, if the agent knows the money remains anyway what is their motivation to work hard to seal the deal? None. Then again, the money should be refunded in 2-3 days (that is max time for any bank transfer) and I am certain it takes way longer than that, which indicates that the money is kept for longer than necessary. With using the referencing company you are correct that many agencies do it. That is why the ones which do it internally (like Foxtons) beat all these other agencies. Their fee is higher but worth the service. On the good note, Acorn was professional in their responses and dealings but the policies and ways of working could be improved to compete with other real estate agents in the market.