COVID-19
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30% of Countrywide branches remain closed as revenues tumble
Countrywide has revealed that its network of branches is still not fully open with nearly a third remaining closed six weeks after the housing market reopened. The company says it is taking time to risk assess, certify COVID-secure and then open branches with all meetings pre-arranged by appointment only. The Covid crisis has impacted its financial performance too. Year-on-year income and profits are down by nearly 30%, the company has revealed this morning as it updates investors on its first five months of trading this year. The UK’s largest estate agency blames the decline squarely on the Covid lockdown but says the tenant fees ban has also cost it £8.1 million in lost fees. Its revenue has plummeted from £200 million in 2019 to £142 million while profits are down from £10 million to £7.4 million, both year-on-year. Back to normal But its results since the housing market opened are much more hopeful. It says all the company’s vendors are now being offered virtual viewings, and that last week instruction were running at 94% of 2019 levels and 86% of the average in the first 12 weeks of the year and pre-lockdown. Countywide’s sales pipeline has remained resilient with a…
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Interview: Gareth Samples on home working, Purplebricks, Ewemove and a second wave of Covid
The new Martin & Co parent company CEO tells The Negotiator what's on his mind as the company emerges from covid relatively unscathed.
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Martin & Co avoids worst of Coranavirus carnage as revenues dip by 20%
Parent company TPFG says its six brands and hundreds of franchisees survived the lockdown relatively well and that many are 'cautiously' bringing back some furloughed staff.
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BREAKING: Rightmove extends discounted fees until end of September as agent numbers dip
After June Rightmove agents will pay a reduced fee rather than get a 100% discount, levels of which will depend on whether they trade in Scotland, Wales or England.
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OTM extends discounted fees to end of September but will Zoopla follow?
'Third portal' says it has enough cash to fund the extended offers, which sees its fees discount held at 30% during August but reduce to 20% in September.
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A third of furloughed staff including some online agents asked to work
Survey of employees across several industrial sectors including online estate agents finds widespread abuse of the Coronavirus Job Retention Scheme.
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Rightmove called on to ‘reveal its new deal’ before fees reduction ends
London agent who heads up one of the four 'say no to Rightmove' groups urges agents to email their reps this morning and demand to know the portal's plans.
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Hybrid estate agents survived the lockdown better, claims Yopa boss
Grenville Turner says the business models of companies like his were overall more prepared to meet the challenges of surviving the pandemic.
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Full details of limited re-opening of Welsh housing market released
Welsh agents discover just how limited the housing market is but at least both sales and lettings branches can finally re-open.
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Welsh property viewings and house moves given partial green light
Latest update from Welsh government allows viewings in empty properties and house moves to be completed that had been started but not completed prior to Covid.
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