Relaunched property portal Emoov’s Chief Operating Officer Naveen Jaspal has told The Negotiator that she is confident that the company has a realistic chance of catching up with its main competitor, Purplebricks.
The comments are made during a wide-ranging interview in the latest issue of The Negotiator magazine.
“We have a sustainable business model, growing our customer base is at the heart of that,” she says.
“As in any marketplace, competition is healthy, we look forward to seeing the brand continue to grow.”
The approach appears to be working – the hybrid estate agency has nearly tripled its number of sales listings from 74 in June to 204 now.
Jaspal also reveals why her company Mashroom decided to buy Emoov out of administration including a substantial payment to its liquidators for its tech and brand.
“We believe that hybrid agents like Emoov and Purplebricks can and will thrive alongside high-street estate agents,” she says.
“The key is to have a sustainable business model that avoids spiralling customer acquisition costs.
“Mashroom purchased Emoov to save the brand from administration and support the rollout of Mashroom’s property platform founded by proptech entrepreneur Stepan Dobrovolskiy.
“Mashroom is a lettings community platform that connects incoming and departing tenants directly, benefiting the people living in the property and landlords.”
During the interview, Jaspal also touches on several other topics including its growth plans, marketing spend, pricing strategy and whether the portal is self-funding or not.