Foxtons has entered an exclusive partnership with IAG Loyalty that will allow customers to earn Avios when they sell or let their homes, marking the first time a UK estate agent has linked property transactions to the global travel rewards currency.
Under the agreement Foxtons customers will be able to collect up to 30,000 Avios when selling or letting a property through the agency.
Existing landlords who add Foxtons’ property management services will be able to earn up to 20,000 Avios.
The partnership makes Foxtons the only estate agency in the UK offering Avios, the loyalty currency used by British Airways, Iberia, Aer Lingus and other airlines within the IAG group. Customers must be members of the British Airways Club and link their My Foxtons account to their Avios account before instructing the agent.
CHANGING EXPECTATIONS
For Foxtons, the deal supports its strategy of strengthening landlord retention, increasing take-up of property management services and growing market share in London sales and lettings.
The group said the partnership reflects changing expectations among landlords, who are increasingly responsive to incentives when choosing or reviewing agents.
Research commissioned by Foxtons among more than 1,300 landlords found that most review their agency relationship every two to three years, while more than 80% said a reward scheme would influence a decision to switch.
Ongoing, flexible rewards were seen as particularly effective in reinforcing long-term loyalty.
ADDING VALUE
Guy Gittins (main picture, inset), Chief Executive of Foxtons, says: “This partnership is another way we’re adding value for our customers and strengthening what makes Foxtons unique.
“It supports our focus on attracting and retaining landlords, growing our share of the London market, and supporting more customers with our property management services.
“As the only UK estate agent where people can earn Avios, we’re giving customers an additional benefit when they choose to let or sell in London.”
NEW REWARDS
Rob McDonald, Chief Commercial Officer at IAG Loyalty, adds: “We are pleased to expand our loyalty offering through this partnership with London’s leading estate agency, Foxtons.
“Landlords who choose Foxtons’ property management services can now be rewarded with Avios, providing even greater value as they manage their property portfolios, while homeowners can start the new year with new rewards, thanks to the sales and letting proposition.”
