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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Hunters reports a ‘strong’ first half of 2018 but ‘slight’ rise in turnover
York-based Hunters says it has enjoyed a ‘strong’ first six months of the year revealing turnover marginally ahead of 2017 and also the opening of several new branches. Although the 26-year-old company hasn’t revealed any financials, this would suggest it has turned over £17 million during the period, the same as its half-year achievement last year. The company, which at 200-plus branches is the smallest of the stock market-listed franchised estate agents in the UK behind Belvoir and Martin & Co, says it enjoyed a promising first six months “despite the widely reported challenging conditions in the housing market”. Acquisition fund Since January the company has opened nine new branches and its acquisition fund, which helps franchisees bankroll the purchase of rivals or property portfolios in their areas, has prompted four such acquisitions since September last year, the company says. “We will continue to focus on delivering a market-leading service to clients, laying the foundations for further growth this year,” says Glynis Frew, the company’s Chief Executive and now the only woman to head up a stock- market-listed estate agent following the departure of Alison Platt from Countrywide earlier this year. Hunters’ update failed to excite City investors. The company’s…
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Burnham-on-Sea cartel agent is expelled from RICS
A Burnham-on-Sea agent and partner in Greenslade Taylor Hunt has been expelled from RICS after helping organise a fee fixing cartel in the Dorset seaside town.
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Be clearer about upfront fees and ‘local experts’ hybrid estate agents are warned
The Advertising Standards Authority has warned hybrid estate agenst to be clearer in their advertising about upfront fees and 'local experts'.
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Emoov attracts YOPA and Purplebricks agents as latest crowdfunding hits £1.5 million
Hybrid agency Emoov is pinching agents from rival firms YOPA and Purplebricks as its prepared for an IPO later this summer.
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Property sales down by nearly 30% in London, claims Land Registry
Although prices are holding steady, property sales across the UK have dropped alarmingly over the past year, particularly in London, says the Land Registry.
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Countrywide chief cuts down his non-exec work to focus on saving firm
Countrywide’s Executive Chairman Peter Long yesterday stepped down from one of his several non-executive director positions outside the company to “reduce” his business commitments. The move comes as Countrywide struggles to find a new CEO, a hard role to fill when the embattled company’s share price has been plummeting in recent months following several downbeat trading updates. The 64-year-old has quit his non-exec role at global theme park and zoo operator Parques Reunidos. He joined it in early 2016 to help the company following an IPO. “After careful consideration of my overall business commitments, I made the decision some time ago to reduce them. I am therefore stepping down now from the Parques Board,” says Peter Long. “[And] after careful consideration of where Parques is in its development and discussions with the Board, I have concluded that it now requires a Chairman who is able to give considerably more time to the business than had originally been envisaged and that I am unable to fill given my overall business commitments.” Travel sector Peter Long joined Countrywide in February 2016 as a non-exec Director before becoming its non-exec Chairman later that year. He had little or no track record within the property…
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Banking boost for Belvoir
Belvoir Lettings plc has finalised an acquisition related loan facility from HSBC, which is part of a refinance package with the bank of up to £17m.
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Purplebricks increases UK ad spend by 50% to £21 million as it aims at 10% market share
Extraordinary figures are revealed in latest annual report and account, which also reveal increased profits and turnover here, but continuing losses in Australia and the US.
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Yorkshire lettings agency expands into sales, relaunches and claims national aspirations
A lettings agency in Bradford has opened a new branch in Leeds and says it intends to expand into Manchester, York and soon 'nationalliy'.
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SDL Auctions Bigwood’s auction raises £16.4 million
SDL Auctions Bigwood’s May auction at Aston Villa FC raised over £16.4 million, with strong bidding for residential lots in a very busy auction room.
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