‘Agency-in-box model’ pops up from failed online agency

The company which acquired failed online business Sellmyhome.co.uk has reinvented the business as a low-cost franchise.

The company which acquired the Sellmyhome.co.uk & RentMyHome.co.uk brands in April last year, is looking to expand quickly across the UK, by offering individual sales agents minimal cost licences has launched to grow their own agency from scratch.

Online Estate Agents Limited offer licences with no entry fee, a nominal monthly fee of £500 plus vat per month and 10% per transaction fee.

“We believe in making it easy and our model is easy to enter and easy to exit with only a rolling 12 month contract and option to renew,” said Managing Director, Shezad Tayub. “We are not interested in creating punitive, long term contracts as we believe a contract is only as good as the relationship that underpins it. If it is not working for an agent they can move on. However, we’re confident that by creating the right environment for success and leaving the agent with the lion’s share of reward, we will all benefit.”

“Licencees will effectively retain 90 per cent of their fees and will be supported by a back office team, marketing services, training, a recognised brand and access to the major portals and industry-leading CRM. It’s effectively an ‘Agency in a Box’ and delivers everything an agent needs to drive their success. All they need is a desire to achieve the best and be part of something that will become a national, household brand.”

Online Estate Agents Limited also owns the Rentmyhome.co.uk brand which the company has developed into a full lettings and property management model and is launching into financial services with its Financemyhome.co.uk brand which the Sellmyhome agents can plug into, building new revenue streams.

The company is recruiting nationwide, as Tayub states, “We look forward to hearing from applicants who will partner with our brand, but build on their own profile as great agents in their local area, with no territory restrictions.”

Read more about sellmyhome.co.uk

One Comment

  1. Let us see that is £6,000 a year, and 10% of transactions a year, not 10% of profit. So year one, from cold start, 5-months no cash in, month 6 to 12 a dribble of cash, maybe 18 completions at £4,000, so £72,000. Cash to Shezad £6,000 and £7,200 = £13,200 cash drain, year one. Or £1,100 a month outlay.

    In year three, mature model say 60 completions at £4,000 = £240,000 revenue. Out of this pay £6,000 fee and £24,000 to Shezad = £30,000. Or £2,500 a month outlay. Can not see many ‘agents’ who will want to pay anyone £2,500 a month to have a new model franchise, whose brand is ‘Online Estate Agents Limited’ not the same as – well Hunters or Winkworth with a proven record.

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