LonRes launches commission sharing site for new build agents

Commission-sharing and property data platform LonRes has launched a service to enable agents who sell new-build property in London to commission share with other agents, it has been revealed. Called ResDev, LonRes says the service will help agents tap into London’s burgeoning new homes market, which last year saw 16,230 new homes built. “With access to a network of properties and potential commission splits, ResDev is a natural extension of the LonRes system,” says says Lonres co-founder Anthony Payne (pictured, left). “Just as LonRes transformed the way in which London agents worked together, ResDev promises to do the same for the new build sector.” The ambitious building efforts of London’s developers, who are finishing projects such as the mixed-used redevelopment of Battersea Power Station started when the London market was over-heating, make it the ideal time to launch the ResDev. LonRes says the numbers of new homes coming to the market is up 53% compared to five years ago. Such extraordinary growth compares with the struggling general sales market in London, within which the number of homes sold has dropped by approximately a quarter year on year. LonRes say its new service will offer agents selling new build properties access…