Agencies & People
News covering the businesses, activities, people and personalities in estate agency and letting agency and wider residential property industry.
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LSL reveals hefty cost of its failed merger attempt with Countrywide
LSL has revealed that it’s aborted attempt to merge with Countrywide last year cost the company £2.4 million in legal and other costs. The figure, which wasn’t revealed in earlier information published on Tuesday morning, shows that the merger was more costly than its decisions to close over 160 Your Move and Reeds Rains branches last year. That much-publicised restructure continued to incur expenses for LSL during the first six months of 2020 to the tune of £1.7 million which, along with the merger and other items including the restructuring of its surveying division, took its exception costs lists to £4.2 million. LSL pulled out of a deal to merge with Countrywide in March, just a few days before the Covid housing market lockdown hit. A month earlier it was confirmed by both sides that Countrywide and LSL were in talks to complete a £500 million merger of the two PLCs in a reported all-share deal. But later LSL said in a terse statement to the City on March 16th that it did not intend to make an offer for Countrywide. This followed a month of speculation and leaks about the two companies’ plans to agree the merger. Also, the…
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Townends and Stirling Ackroyd in surprise move to outsource financial services
The two Nick Dunning Associates owned estate agencies have until now been served by the group's financial services arm Dot Financial.
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Revealed: the cities and regions where agents earn the most from sales
New data shows how London continues to dominate the UK with an average sales fee of over £8,000 and percentage fees of 1.8%.
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Upad offers refunds to landlords after technical hitch leads to complaint
Online letting firm has apologised after landlords' properties failed to appear on Zoopla and PrimeLocation for a period of time after an automated upload system failed.
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Revealed: Why Purplebricks dramatically culled its Territory Owners
CEO Vic Darvey says the radical reorganisation plan that leaked out earlier this year, was to enable Territory Owners to significantly increase their earning potential.
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Purplebricks prepares to radically change its fixed fee model
Company's CEO says it is looking at several options due to launch this Autumn including dual fees and split payments at instruction and sale.
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Chancellors: How it avoided ‘damaging cuts’ during COVID lockdown
MD of multi-branch independent agency in London and Home Counties reveals how it has survived the pandemic.
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Belvoir franchise reports continued growth despite COVID-19 challenges
Lockdown makes only a small dent in lettin agency chain’s performance with June breaking records for Newton Fallowell arm.
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Connells celebrates the ultimate company man: Chief Executive David Livesey
Company issues a celebration of its Chief Executive's 30-year-career but omits his closure of hybrid agency Hatched and the OTM/Gascoigne Halman court case.
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BREAKING: Is major industry figure Robin Paterson eyeing up Countrywide?
Paterson owns Sotheby's Realty UK, helped expand Hamptons International and Barnard Marcus during the 1990s and recently set up an investment LLP to buy Countrywide shares.
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