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Online agency shares offer – in for a pound…

Poundland Founder, Steve Smith, is offering £1.25 million worth of shares in EstatesDirect.com, his fixed-fee, online estate agent, to the British public.

PROPERTYdrum

logo_estates_directSome £1.25million worth of equity in EstatesDirect.com is live on the crowd funding website CrowdCube.

EstatesDirect.com’s previous listing on the site in 2014 generated £660,000 in just 10 days breaking records in the process. Since then, the company has grown at a raid rate to hit a projected value of £175 million in just 36 months, according to the company.

The firm, which is headed-up by Steve Smith, Poundland Founder, and Darren Richards, Founder of DatingDirect.com, want to use the funds to expand nationally.

Investors can acquire shares by going to www.estatesdirect.com/crowdcube

steve_smith_estates_directSmith, Chairman of EstatesDirect.com, said, “I don’t like feeling I’ve been ripped off. The British public feel the same way I do about commission-based estate agents and that’s one of the reasons they invested in the company so enthusiastically the first time. When we listed on CrowdCube we wanted to open EstatesDirect.com up to the public to allow them to be part of it and let everyone know that we think you should be able to sell a home for as little as £295 plus VAT.

“Together with initial capital from the board we were able to build the company up across the UK. This time CrowdCube will help us continue to expand and build on changing the estate agent business into a modern, consumer focused business.”

Amongst its offerings to customers EstatesDirect.com has created its own app to allow its agents to place a property on the market within an hour, complete with floor plans and photography. The company cuts costs for homeowners by having no high street office to rent, and its own legal panel. EstatesDirect.com also has its own training programme to ensure its team deliver a professional service.

Smith continued, “EstatesDirect.com especially appealed to me because it is not just another online estate agency. We have a number of franchised businesses, licensees and employed local agents, who provide the expertise and personalised service of a high-street estate agent, which we know is still very important to customers when buying, selling or letting their property.”

EstatesDirect.com uses websites such as Rightmove and Zoopla to market properties for sale, but is prevented from listing on the recently launched OnThemarket.com because the website is refusing to list online estate agents.

February 20, 2015

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