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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Agent behind tenant fees ban e-petition reveals what he thinks of government response
Firstly, thanks to everyone who has supported our campaign so far. It shows the strength in our views and in my opinion outweighs the 4,700 [consultation process] responses on which the draft [Tenant Fees Bill] was based on. Do you think they made the 4,700 people who offered their feedback aware that their rents will be dramatically rising come 2019 (which has been widely acknowledged and wholly ignored)? Perhaps the government should take some feedback from the people who will be losing their jobs/businesses? And perhaps they should take some feedback from the people that will no longer be able to pass references because their affordability no longer meets the higher rents threshold which would you believe, has been acknowledged…and ignored. To say I am disappointed with the response would be a huge understatement and to be honest is a mockery to the hours committed to raising awareness and acquiring signatures. Tenant fees ban At no point does this response consider that a fee cap would be a fair and just solution nor do they make any attempt to explain as to why it would not be a fair and just solution – instead admitting that enforcing a complete ban…
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Network Auctions’ best year!
Network Auctions has reported an 82 per cent sales result, raising £3.4m in its last sale of the year on 7th December, marking a record beating year for the company.
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Exclusive: Leading online letting agent ditches up-front fees for its premium service
Online letting agent Upad has abandoned its up-front fees for landlords who use its most expensive service. Called ‘Pay On Success’, it replaces its ‘Complete’ service which landlords used to pay up front for but, unlike traditional agents, now pay for only when tenants begin referencing. “We appreciate that landlords don’t come in one size and that, therefore, we shouldn’t offer one single pricing package,” says James Davis, Upad’s CEO (pictured, below). The new service is essentially the same as the old one. For £399 including VAT landlords get tenancy compliance, a landlords’ club, personal property expert, tenant enquiry handling service, referencing, contract and payment management and photos. Its two more basic services called ‘Standard’ and ‘Essential’ continue to be paid for up-front by landlords. “We continually review our service to landlords,” says James Davis. “This ensures that the options we provide to them not only meet their current needs but exceed expectations and allow us to stand-out compared to traditional high street agents. “The launch of our ‘Pay On Success’ package is one such innovation and has already been very positively received. “Early performance data shows that this package is proving twice as popular as the ‘Complete’ offer it…
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Butler Sherborn in new corporate move
Butler Sherborn, the Cotswold property specialist with offices in Cirencester, Burford, Stow-on-the- Wold, Oxford and Wantage, has changed its business status to become a Limited Liability Partnership (LLP).
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Hunters opened 37 branches during 2017 and increased income by nearly 10%, results reveal
Franchise sales and lettings group Hunters says it outperformed the market during 2017 and increased its income by 9.8% to £38.9m, up from £35.4m in 2016, despite the “well-documented challenging conditions in the UK”. Today’s results come from its latest trading update to the City and includes details of its aggressive expansion, which included 37 new branch openings last year, taking it to a total of 213 branches. Like its competitors Martin & Co, EweMove and Belvoir, Hunters is hoping the choppy trading conditions within the UK property market at the moment will persuade more independent agents to seek safe anchorage in its branded franchise network. Cost reductions “Market conditions will continue to encourage independent operators to be part of a stronger group that can also offer significant cost reductions, particularly in terms of portal charges for Rightmove, Zoopla and OnTheMarket,” its update says. “We are already seeing an improved level of enquiries from high quality independent businesses. Our financial strength will enable us to both expand our network and reward shareholders with an attractive dividend.” In December last year Hunters began listing its properties centrally via OnTheMarket.com, rather than leaving it to individual franchisees. The City would seem to…
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Ewemove poach senior Countrywide branch manager to lead its franchisee support team
Hybrid agency Ewemove has poached a senior member of the Countrywide team to help its existing network of franchisees grow their businesses, and also recruit more businesses to the brand. Chris Webb (pictured, right), who until last month was a Senior Branch Manager at Countrywide and before that worked at Winkworth, has a 14-year track record in the industry starting out as a negotiator at a Winchester independent aged just 18. Now 32 years old, he will hold the title of Performance Director at Ewemove and report to Head Shepherd Nick Neill (pictured, below). “What especially drew me to the brand was its effectiveness in bringing together the very best aspects of traditional and online estate agency,” says Chris. “Having come from a very traditional background, I’m looking forward to further establishing EweMove as a serious alternative, and the go-to estate agency.” Ewemove, which is part of the Property Franchise Group, is unusual within the industry because, although it originally launched as an online agent, the company is keen to position itself as a ‘high street but hybrid’ operator and in January revealed it had six high street offices. “With our unrivalled commitment to customer care and our use of…
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OnTheMarket targets independent agents as it launches war with ZPG
OnTheMarket has come out fighting five days after its stock market flotation, telling its new City backers that the company is to target independent agents and has already signed up 81, with more in the pipeline. “The estate agent sector is highly local in character and early indications are that we are on track in terms of creating local momentum in the marketplace up and down the UK,” says Ian Springett, CEO of OTM. “The core proposition of the business remains the creation of an agent-backed, full-scale property portal to disrupt what is otherwise a duopoly of Rightmove and Zoopla by offering a premier search experience to consumers whilst charging sustainably fair prices to agents.” But the portal also says it is targeting larger estate agency groups and has already to signed up its first a to five-year deal since launching on the AIM stock market. This is the 18-branch agency Butters John Bee which, as well as signing up to OTM, has withdrawn its listings from ZPG’s portals. The agency, which has branches across Shropshire, Cheshire, Staffordshire and the West Midlands, was bought by the SpicerHaart group in September last year. Butters John Bee is essentially now aligning itself…
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42% of tenants still unhappy about “excessive fees” despite looming ban
Despite the looming fees ban due next year tenants say their number one gripe about renting a property continues to be the “excessive fees” they are charged by agents, it has been claimed. Lettings platform HomeRenter says 42% of the tenants it canvassed recently said they were unhappy about the large fees they had been charged, followed by having to chase agents and landlords about repairs (41%) and paying a security deposit (36%). HomeRenter has also made the surprising claim that 90% of landlords would prefer to rent their homes direct to tenants, and that it’s an arrangement 70% of tenants would prefer too. The surprisingly high figures are within research published today by HomeRenter, contradicting recent data from the National Landlords Association (NLA). It recently said 61% of properties were rented through lettings agents, a figure the NLA said increased last year. But HomeRenter says its research also shows that although 88% of landlords are happy with their rental arrangements, half of all landlords are frustrated by both poor service from their letting agent or poorly-behaved tenants. “There is a clear dissatisfaction from both landlords and tenants towards traditional estate agents,” says Will Handley, CEO of HomeRenter (picture, left).…
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Lomond Capital continues its acquisition trail
Lomond Capital has announced two further agency acquisitions, in Manchester and Brighton.
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Record breakers across the auction market
David Sandeman, Managing Director at Essential Information Group, reports...
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