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Associations & Bodies

‘Property industry consolidation looming if low transaction volumes continue’

Founder of new trade body the FIA fears only those in non-competing grouping like his will survive if current quiet market does not pick up.

Nigel Lewis

property industry

Graham Lock, the founder of soon-to-launch property industry body the Federation of Independent Agents (FIA), says many of the smaller operators within the industry won’t survive the looming period of consolidation forced on it by continuing low transaction levels.

Locks’ comments were made as he revealed more details to The Negotiator about the launch of the FIA, explaining that membership of the association will require the principals of each business to pass an entrance examination and that each agency will be required to have a mandatory Feefo reviews account.

“We want our members to be of a particular standard in the eyes of the general public and to use their FIA membership as a unique selling point on valuations,” says Lock.

“There aren’t many estate agency organisations out there that carry much weigh within the general public, I want to change that with FIA so that our members stand-out above all the others, for all the right reasons.”

Entry requirements

Lock, who rose to fame as the founder of now troubled online agency HouseNetwork and later as MD of The Property Franchise Group, says in return for such stringent entrance requirements, FIA agents will benefit from the advantages.

This will include the latest suppliers and subsequent discounted deals, staff training, quarterly national conferences, mystery shopping and the sharing of best practice among many other benefits”.

Last week the FIA revealed its first official supplier, Yomdel, and first member agent, Maurice Kilbridge in Cheadle, Cheshire. The invite-only association is due to launch officially on 25th April.

April 18, 2019

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