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Agencies & People

Hunters beats ‘difficult’ market by attracting more successful independents to its network

AIM-listed company says the average turnover of branches joining its network is £173,000, an increase of £20,000 compared to 2016.

Nigel Lewis

hunters

Hunters has revealed more details about its performance last year following an interim update on its 2017 performance in February.

This includes how the company says the independent agents it helped convert to a Hunters franchise tend to be more successful ones, rather than struggling agents looking for a way to reboot their businesses.

Consequently, branch turnover for these independents on conversion tends to be high at an average of £173,000 a year.

The York-based company claims its franchised branches outperform local markets, earning 10% more in revenue than comparable businesses.

Hunters also spent £500,000 on training last year and launched a digital valuation booking tool that has helped direct £5 million worth of property sales to its franchisees, helped by a 70% increase in traffic to its website over the past three years.

Directors’ salaries and bonuses are also revealed in the company’s latest results. CEO Glynis Frew earned £112,000 last year and received a bonus of £49,000 while Harry Hill and Kevin Hollinrake, who is also an MP, earned £54,000 and £59,000 respectively.

Kevin Hollinrake Hunters image“We are delighted to report a robust set of figures, despite subdued the market conditions,” says Chairman Kevin Hollinrake (left).

“This performance highlights the robustness of our model and the quality and commitment of our franchisees and their teams across the network.

“We would expect this current market and recently announced additional regulatory requirements to provide us with even more opportunities to expand our branch network and strengthen our market position still further.”

April 12, 2018

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