BestAgent, the property market platform founded by housing commentator Charlie Lamdin, is launching a membership organisation for estate agents in November, with entry based on assessed performance criteria rather than payment alone.
The BestAgent Club will be limited to 1,000 members initially, with 99 founder memberships available. Applicants will be assessed on working practices, service standards and transaction outcomes, with membership subject to withdrawal if standards decline.
Performance-based model
The club aims to focus on transaction completion rates and moving times rather than instructions secured. Members will work with Lamdin and BestAgent’s advisory board to develop performance benchmarks targeting completion rates of 90% or higher and fees of 2%.
Individual membership is priced at £100 per month, with business membership starting at £250 monthly. Benefits include coaching, events and training, alongside market intelligence and discounted leads for business members. The 99 founder members will receive 80% off purchased leads in their first year and priority training access.
The initiative represents a shift in how estate agent performance is measured, at a time when industry platforms face scrutiny over their practices. Similar to developments in lending where performance criteria are evolving, the club seeks to align agent incentives with transaction completion.
Revenue-sharing structure
Qualifying business members who achieve performance benchmarks will receive investment chips in BestAgent, each representing 0.01% of the company’s revenues over 10 years. BestAgent estimates each chip could be worth up to £100,000, though revenues are not guaranteed.
Advisory board member Rory Sutherland commented: “One of the strangest things about the property market is that we reward people for starting transactions, rather than successfully finishing them. BestAgent is doing something rather clever: changing what success looks like.”
Members will be able to display a BestAgent badge indicating they have met the club’s benchmarks. Lamdin stated that early direct outreach has generated strong initial interest, though specific numbers were not disclosed.
The launch comes as the estate agency sector faces ongoing pressure to improve transaction success rates and reduce fall-through rates, with the club positioning itself as addressing what it describes as outdated industry practices focused on listings rather than completions.
