Hunters
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Latest property news
Google gathers senior estate agency for invite-only digital seminar
After a nearly ten-year hiatus tech giant Google appears to have begun re-engaging face-to-face with the property industry. During the late noughties there was an outcry when it appeared that Google might begin targeting consumers directly and cut out agents from the property selling and renting process, although this was denied by the tech giant at the time. Nevertheless, the Californian-based online search firm subsequently scaled down its attempts to court the ‘for sale by owner’ sector and concentrated instead on other markets, much to the relief of agents. But now it’s back. The tech giant this week opened the doors of its UK head office to host a meeting of estate agents to mull over how to get instructions online. One of Google’s more senior UK executives, Harvard-educated Roxanne Brownlee (pictured), who works with larger, high-growth clients, did the presenting. Google, along with digital agency Fountain and 24/7 live managed live chat firm Yomdel, also offered up online strategies to help combat the challenges of competition from online hybrid agents, the privacy issues created by GDPR and Brexit. And Fountain should know – it helped hybrid agency Ewemove achieve rapid growth during its start-up phase. “Yomdel and Fountain began…
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Latest property news
A tale of two agents: Hunters celebrates as Foxtons sinks
Two leading estate agents have released their latest trading statements over the past 24 hours but as performance goes, Foxtons and Hunters might as well be on different planets, their results reveal. Hunters this morning reports that its franchised sales and lettings business is in rude health. Chairman and MP Kevin Hollinrake will say at the firm’s AGM later today that the company has already seen 12 new branches join its network and that there is a strong pipeline of sales including increased instructions during the first four months of this year, up by 5.4% year-on-year. He also says the first half of the year is shaping up to be “better than anticipated” and that its customer service approval rate has increased to 96%. Foxtons At the same time Foxtons has also released its latest trading statement, which paints an entirely gloomier picture – even though both companies are competitors in many parts of London. At its AGM yesterday the company revealed that its sales, lettings and mortgage businesses performed worse during the first quarter of 2018 than the year before, warning that “conditions in the London property market remain very challenging with sales volumes lower than the year before”.…
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Latest property news
Hunters beats ‘difficult’ market by attracting more successful independents to its network
AIM-listed company says the average turnover of branches joining its network is £173,000, an increase of £20,000 compared to 2016.
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Latest property news
Will most agents soon be listing on all three property portals?
Franchising corporate giant Hunters is the latest large estate agency group to sign up to all three property portals after confirming it had begun listing its properties via OnTheMarket (OTM). The company was one of several key industry brands to sign up to the portal last last year for a long-term deal on condition OTM successfully floated on the London Stock Exchange’s AIM market. Before the flotation OTM said it would drop its controversial ‘one other portal rule’ once its shares had been listed. This has prompted an increasing number of agents, therefore, to sign with all three portals. Like Hunters, which has 200 franchised branches across the UK, this includes Chancellors and Douglas & Gordon, with more expected to follow soon. “We are pleased to be able to offer this huge benefit to our customers who can rest assured that with Hunters, their properties will be marketed to the widest possible audience,” says Glynis Frew, Hunters’ CEO (pictured, left). “Furthermore, as a franchisor, we are also delighted that this deal brings significant advantages to our 200 plus network of branches, who are very enthusiastic and positive about the news. “This is a fantastic addition to our service offering that…
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Latest property news
Hunters opened 37 branches during 2017 and increased income by nearly 10%, results reveal
Franchise sales and lettings group Hunters says it outperformed the market during 2017 and increased its income by 9.8% to £38.9m, up from £35.4m in 2016, despite the “well-documented challenging conditions in the UK”. Today’s results come from its latest trading update to the City and includes details of its aggressive expansion, which included 37 new branch openings last year, taking it to a total of 213 branches. Like its competitors Martin & Co, EweMove and Belvoir, Hunters is hoping the choppy trading conditions within the UK property market at the moment will persuade more independent agents to seek safe anchorage in its branded franchise network. Cost reductions “Market conditions will continue to encourage independent operators to be part of a stronger group that can also offer significant cost reductions, particularly in terms of portal charges for Rightmove, Zoopla and OnTheMarket,” its update says. “We are already seeing an improved level of enquiries from high quality independent businesses. Our financial strength will enable us to both expand our network and reward shareholders with an attractive dividend.” In December last year Hunters began listing its properties centrally via OnTheMarket.com, rather than leaving it to individual franchisees. The City would seem to…
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Latest property news
Hunters acquisition rebrands
Hunters branches in Buntingford, Stevenage and Baldock Lettings opened in Hertfordshire on 1st December...
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Agencies & People
Major UK agent signs up to rent empty properties via Airbnb
Franchised agency network Hunters is piloting a scheme in Manchester that will enable its landlord and vendor clients to rent out their properties via Airbnb and other short-term rental sites. The first properties to be offered for short-term rent are within Bracken House (pictured, right), a development of apartments within the city centre. The new service is a partnership with Lavanda.co.uk, which has launched an agent version of its property management service to facilitate the deal. Hunters says the Manchester pilot has been a “great success” and will be rolled across the national Hunters 200-branch network over the next 12 months. Properties must be let out for a minimum of two nights and will be managed by Lavanda including a furnishing service for empty properties, tenant vetting, hotel-style housekeeping, face-to-face check-ins and a 24-7 concierge service. Lavanda will also advertise the properties, it says, via all the major short-term rental websites including Airbnb, Booking.com, HomeAway and Expedia. “Much to the frustration of vendors, the recent slow sales market has led to swathes of prime property sitting empty,” says Guy Westlake, CEO of Lavanda (pictured, left). “This has not only resulted in landlords suffering a significant loss of income, but [for…
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Features
Safety in numbers – is it worth joining a franchise?
In a challenging market it can be tough being independent, says Joanne Christie, so could joining a franchise be your key to success?
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Features
Was it all purple? Who were the 2017 property industry winners and losers?
Overall the London Stock Exchange has risen by approximately 7% over the past 12 months although it featured some dramatic drops during February, May and September as Brexit has taken its toll. These have been mirrored within the property industry as both Brexit but also several much reviled government initiatives including higher Stamp Duty and the fees ban, have been announced. And the ten property sales and letting companies that list on the two main stock markets in London – the LSE and AIM – have been part of this story. Here’s how they’ve fared. Share prices Purplebricks – up by 152% After a stunning start to the year which saw its share price rise from £1.50 to £5.13 by August, a recent BBC investigation, several ASA reprimands and problems with review sites, investors have cooled their ardour for its stock, which finishes the year at £3.78p – but still 152% up on January. Savills – up by 41% While everyone’s been talking about Purplebricks, Savills share price has been skyrocketing without too many people noticing, up from £6.88 in January to £9.71 today – an increase of 41%, helped mainly by its global exposure to both booming commercial and…
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Latest property news
Hunters’ five-year OnTheMarket deal brings online marketing back to its HQ
The recent deal by stock market-listed estate agency Hunters Property Group to list all its franchisees properties via OnTheMarket.com (OTM) significantly changes the way its franchisees choose how to market their listings, it has been revealed. Until now it is believed that franchised branches were free to choose which portal they list their properties on and, at different times, have signed up to he OTM and either listed with Zoopla or Rightmove. But now that the ‘one other portal’ rule is dead in the water following the recent decision to demutualise OTM’s parent company Agents Mutual and float the portal on the AIM stock market, Hunters has taken the unilateral decision to move all of its franchisees on to OnTheMarket.com. A spokesperson for Hunters, said: “We can’t comment on the extent of the deal yet but we see it as a positive step for the whole network, which will provide the best solution in terms of creating exposure for our properties.” Portal choice Only a handful of Hunters’ franchisees list with Rightmove while 180 list with Zoopla out of its’ total network of more than 200 branches. “Some of the Hunters franchised offices have joined OnTheMarket on an individual basis…
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