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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Fine & Country Launch in Costa Blanca South
Fine & Country has opened a new office on the Costa Blanca.
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Pudsey: Manning Stainton’s Branch of the Year
The Pudsey branch of Manning Stainton was named 2015 Branch of the Year at the agency’s annual Pride Awards.
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SDL Groups acquires Graham Penny
Shepherd Direct Limited (SDL) Group has acquired the East Midlands based Graham Penny Auctions as part of its strategy to create a new national brand.
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On The Market battle grows as Action Group is formed
The first meeting of the OnTheMarket (OTM) Action Group, run by Iain White, took place yesterday (Monday 9th May), with attendance from 100 OTM members who have given notice to OTM and received threats of legal action, along with others who would like to leave the portal but have not yet resigned. The group later issued a statement saying, “The estate agents believe they were misled by Agents Mutual, the owner of the OnTheMarket property portal, over promises made on joining that their subscription fees would always be equal to, or lower than, members who joined at a later date. It has now been suggested that, instead, Agents Mutual have in fact been offering subscriptions at a much lower price, disadvantaging earlier members. Iain White (left), consultant to the estate agency industry who organised the meeting, said, “More than 200 estate agents representing businesses across the length and breadth of the UK have registered their interest in taking action against Agents Mutual. There are a lot of aggrieved property professionals who consider that they have been unfairly treated by Agents Mutual. “On Monday morning our information session in Central London was full. The level of outrage among Agents Mutual members…
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LetCo buys Top-Let
Lettings specialist LetCo has doubled in size, increasing its reach throughout the Solent region, by acquiring Portsmouth -based company Top-Let.
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Hunters reports profits up by 46 per cent
First set of results as a public company show impressive growth.
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Hunters expands in central London
Hunters continues its expansion in central London with a new branch in Willesden Green, joining successful offices in West Hampstead, Harrow and Harrow on the Hill. Glynis Frew, Managing Director of Hunters Property Plc said, “We are delighted to see our continued expansion in London and welcome Franchise Owner Shahzad and his team to the Hunters network. We already have a strong presence across the capital and plan to widen our reach further throughout 2016.” Shahzad has lived in the area for 35 years, he says, “When I decided to open my own estate agency franchise, I wanted to do this with the support and reputation of one of the nation’s most recognised and trusted brands.” “We are seeing a real mix of buyers in Willesden Green, including inner city dwellers moving further out and people looking to live closer to central London. Trendy new bistros, bars and shops are beginning to appear along the high street, adding to the already vibrant atmosphere developing in the area.”
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Agency Summer Festival announced
Julian O’Dell (left), known and admired by countless estate agency businesses for his training and business development skills, has announced the date of his latest fundraising event in aid of Macmillan Cancer Support. “After months of planning, deliberation and research, Cat and I can finally confirm the details of Catfest 16. The date (as many of you know) is Sunday 28th August, start time 2pm. The event will run onto midnight and probably beyond. “It will be held in our garden as last year in a festival setting. Seven acts are confirmed and include rising star Daisy Bell, the fantastic Danni Nicholls (recently seen at Salford Village Hall, on Vintage TV and supporting Toyah in London) and the brilliant Balsamo Deighton (comprising two extraordinary singer/songwriters in Steve Balsamo, arguably the best ever Jesus in the West End’s Jesus Christ Superstar, and Rosalie Deighton, whose wistful vocals are simply beautiful). Add into the mix Catfest 15’s returning star turns Straw Bear and Fred’s House plus a couple of other great bands – The Alice Band and Simply Wed – and you know you’re in for a musical treat from start to finish. There will be a wonderful selection of festival food…
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Sell your home for £1????
The average estate agency fee for selling a London home now stands at almost £9,400, according to Portico London Estate Agents, as it launches #sell4apound. Every home-seller instructing Portico as sole agent during April was entered into a prize-draw giving them a strong chance to save thousands and thousands of pounds, with the Portico fee reduced to just £1. Londoners now have to find an average £9,000 in estate agent fees to sell their London home. This is 31 times more than in the mid-Seventies when the average fee was around £298. By 1985, the figure had more than doubled to £886 and by 2005, Londoners were paying around £5,650 to estate agents to sell their home and. In 2015, this had increased 66 per cent to £9,389. Robert Nichols, Managing Director, Portico.com, said, “Clearly, selling a home is more expensive than ever. The opportunity to save thousands of pounds on estate agent fees will appeal to Londoners and we’re really pleased to offer this as we celebrate our first birthday.” Portico is also celebrating by the launch of a fixed-fee service for home sales. Every property that’s instructed between 1 April and 30 September that’s valued over £1 million…
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Profits, profits, profits!
Belvoir Lettings PLC announced its Preliminary Results for the year ended 31 December 2015. Group revenue was up 19% to £6.9m (2014: £5.9m); Growth in Management Service Fees (MSF) was 25% to £4.0m (2014: £3.2m), consisting of 12.5% (2014: 11%) from the organic growth of the Belvoir network and 12.5% from the mid-year network acquisitions and revenue from property sales up 60% to £1.4m (2014: £0.8m) Mike Goddard (left), CEO, said, “2015 was a pivotal year for Belvoir. The Company commenced its strategic vision of a multi-brand operation with the acquisitions of Newton Fallowell and Goodchilds. As a result of these new networks and seven new Belvoir territories, our UK coverage has increased by 31% to 212 outlets and adjusted profit before tax is up 36% to £2.4m. The Board appreciated the support of our shareholders in funding the mid-year acquisitions and I am confident that the coming year will see the full impact of our successful multi-brand strategy as the new brands become further incorporated into the Group.” Winkworth revenues rose 6.7% to £5.87 million on franchisee turnover of £49.0 million; Profit before taxation down 1% to £1.91 million; Ordinary dividends payable up 10.2% to 6.5p per ordinary share;…
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