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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William H Brown Acquisitions
William H Brown, part of Sequence UK, has acquired two agency businesses, Barnfields in Enfield and Cory & Co in Harwich.
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Belvoir says ‘little agents’ video attracted two million people via social media
Belvoir, the UK’s largest high street property franchise, says its recent #littleagents video campaign attracted an extra two million visits to its social media accounts. The four-minute video, which was watched 1,900 times on YouTube, featured three young children conducting viewings of properties, and included one hilarious scene where the two bespectacled boys (pictured, right) insist ‘kitchen/diner’ is spelt ‘kitchen/dinner’ on their hand-drawn floorplans. The campaign kicked off in March. Belvoir has launched a follow-up YouTube video following the success of #littleagents, but this time featuring grown-ups, called #MovingMemories. New video Rather than go for comedy, Belvoir this time attempts to pull the heart strings of viewers with a two-minute video of short interviews with home people about how they felt about moving up, down and along the property ladder. This includes a two loved-up and recently-engaged young couples buying their first homes (pictured, left), a mum and dad with two children moving out of a flat into a house and an elderly down-sizing couple. All of them talk about what they most like about their new homes, and – particularly the two first time buying couples – how jealous their friends are. The video is in support of a…
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Nick Dunning Associates acquires Stirling Ackroyd
Nick Dunning Associates has expanded its footprint in Central London and the city fringes with the acquisition of six-branch agency Stirling Ackroyd.
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Three agents investigated after being reported over misleading claims
Claims made in three different estate agents’ leaflets and circulars distributed in Scotland, Sheffield and Somerset have been challenged by members of the public for being misleading and reported to the Advertising Standards Authority (ASA). After being approached by the watchdog the agents have promised not to repeat the claims made in the leaflets, which included competitor comparisons, inaccurate information about a portal listing and claims about ‘prices achieved’. Happy Sales & Lettings, which is based in Sheffield, distributed a leaflet that listed a number of competitors’ sold and unsold properties in a table format. One of the competitors, local firm Crucible Sales & Lettings, challenged whether the information in the leaflet was both misleading and the information verifiable. Happy Sales & Lettings said the leaflet was no longer being distributed, and promised to ensure future competitor comparison information was clearly signposted in future ads. Lewis Gray was reported to the ASA because the company claimed in a circular that it listed properties on Zoopla when it did not, and has now removed references to the portal in its print and online material. And Scottish RE/MAX franchisee John Slaven had his circular challenged after a member of the public spotted…
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Auction revenues up!
David Sandeman, auction guru at Essential Information Group (EIG) reports that 144 auctions were held, with 3657 Lots Offered and 2774 Lots Sold (commercial and residential) in July - 24 fewer than last year...
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Competition watchdog reveals more details of Burnham agent cartel
The government’s competition watchdog has made the unusual move of publishing more details of its recent investigation into price-fixing in the seaside town of Burnham-on-Sea in Somerset. In March this year the Competition and Markets Authority fined a group of agents in the town a total of nearly £380,000 after its investigation uncovered that they had held a meeting at which they agreed to fix their minimum commission rates at 1.5%. But the CMA believes that, because this is the second time it has caught agents undertaking such anti-competitive behaviour in recent years, it’s concerned that agents still don’t realise how serious such conduct is – or its consequences. The earlier case involved an association of estate agent in Hampshire who in May 2015 were revealed to have colluded with a local newspaper over the publishing of fees and discounts in adverts. Burnham cartel To highlight this, the CMA has published details of how the Burnham cartel was set up, discussed and what was said at the clandestine meeting. The agents involved were Gary Berryman Estates Ltd, Abbot and Frost Limited, Greenslade Taylor Hunt and West Coast Property Services (UK). The CMA says the anti-competitive activity kicked off in 2014…
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Purplebricks kicks off in US with 3D viewings
Purplebricks has officially launched in the US seven months after it raised £50m from the City to fund its expansion over the pond. As announced in June, Purplebricks’ US launch has kicked off in California beginning in Los Angeles before being rolled out across the state and later other key states and cities across the US. Its American team, which is led by CEO Eric Eckardt, has also revealed its fee structure, which has been adapted to fit the US way of selling properties. Agents charge vendors a 5-6% fee to sell their home and then give up to 3% of their fee to the buying agent who successfully introduces a purchaser. Purplebricks is to instead charge vendors in the US a flat fee of $3,200 to list their homes, although they will have to pay the buying agent’s fee when the property is sold. As in the UK, vendors will be able to delay the up-front listing payment by effectively taking out a loan to fund it. But buyers who purchase their properties through Purplebricks without using a buying agent will receive a cash payment of $1,000 when they buy the property, effectively inducing purchasers to cut out buying…
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Is this new style of agency the answer to the industry’s problems?
A former Chestertons sales director, Nick Carter has launched Harding Green, a US-style estate agency in central London which, he claims, will be unique way of selling and letting property in the UK. The business will run a central office but instead of staff, the company’s Associates will be self-employed and individually responsible for between 15 and 20 properties for sale or to let. The Associates will be able to either work alone or in pairs and manage between 30 and 40 properties, and choose between several commission structures. This includes receiving a salary and 20% of the commission or working without a salary and taking up to 75% of any commission. Harding Green says it is looking for agents who have a minimum of five years’ experience in the London market in sales or lettings. Kensington office In return, Associates will receive leads from – and be supported by – the firm’s Kensington office including the usual admin, IT and marketing services. This will include advertising and public relations campaigns. The company says each Associate or pair of Associates will remain the sole point of contact for each client from start to finish and therefore be able to dedicate…
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Fast-growing luxury buying agent hires former Marsh & Parsons sales star
Fast-growing luxury property buying agent Black Brick has poached one of London’s fast-rising agent stars, Alex Oliver (pictured, right). Harrow-educated Alex has joined Black Brick after four years working in the capital including initially two years and four months at Foxtons in Brook Green as a sales negotiator, and then a year and eight months at Marsh Parsons in Notting Hill. At M&P he was a senior sales negotiator and also one of the company’s top performing sales people. During his career to date Alex says he has sold property worth £50 million in “some of the toughest property markets”. “We are delighted to welcome Alex to the team,” says Camilla Dell, Managing Partner at Black Brick who, like Alex, is a former Foxtons employee (pictured, left). “As a boutique company, we work on a one to one, bespoke basis with our clients and Alex’s knowledge, expertise and personal approach is the perfect fit for our company ethos.” The company says its success is down to current market conditions and increased demand from buyers seeking impartial advice from the buying agency. The growing team now consists of nine staff, with plans for further expansion in the coming months. Times interview…
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Leaders’ growth continues
Leaders has purchased Bulmer Estates, a family-run business owned by Andrew and Rebecca Bulmer in West Bridgford.
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