Martin & Co
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Latest property news
Exeter estate agent rented out homes FOR SALE in £10k lettings fraud
An Exeter estate agent who fraudulently rented out homes on Gumtree that were for sale and who also stole over £1,000 in cash from his employer has been released on bail. Andrew Boyne, who in court admitted theft and 13 counts of fraud totalling £10,000, conducted the brazen lettings scam by advertising properties to let on Gumtree that were really properties for sale in Exeter listed with both his own agency and others. The 34-year-old then asked potential tenants for £200 holding fees and in some cases rent in advance. During the case at Exeter Crown Court, Devon Live reports that Gareth Evans, prosecuting, told the court that “on more than one occasion, people would actually move in, only to be told later that they had no right to be there”. Financial dificulties Boyne, who appears to have had a good reputation as an agent prior to the offences including several glowing reviews online for his sales progression and negotiating skills, got into financial difficulties and then turned to gambling to solve them but making his situation worse, Lee Brembridge, defending, told the court. The alarm was raised when Boyne entered his branch office during the weekend and stole £1,025…
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Latest property news
Belvoir merger with Martin & Co put to shareholders
Franchise lettings giant Belvoir is to attempt a merger between itself and The Property Franchise Group, owners of Martin & Co, after it today made an official offer to start direct discussions with both TPFG and Belvoir shareholders. Belvoir’s directors believe a merger between the two franchise networks would be in the “best long-term interest of both companies and their respective shareholders”. But Belvoir has gone public with the proposed merger only after the TPFG board rejected its overtures despite having previously shown a willingness to engage on the subject, Belvoir says. The time is ripe for industry consolidation, Belvoir CEO Dorian Gonsalves (pictured left) says, hinting at the difficulties that may be ahead for the lettings sector following the fees ban later this year, and “that a more broadly based multi franchise group will be better positioned to leverage the opportunities in the sector and that the shareholders of the respective companies are looking for such leadership”. The proposed merger would, through a mixture of cash and shares, see TPFG shareholder take a 34.6% stake in a new enlarged group and create a UK property franchise group with 683 outlets and 108,000 tenanted managed properties. TPFG shareholders would receive…
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Latest property news
Agent warns over “increasingly common” Facebook scam
Martin & Co has warned of an “increasingly common” Facebook scam after two women in Devon were duped out of £1,200 by sophisticated online fraudsters. National Fraud Reporting Centre police are now looking in to the case after Jenny and Cheryl Foster-Mitchell lost the money after being lured into paying a deposit and fees for a rental property in Plymouth (pictured, right). The fake landlord had stolen images and copy from Rightmove and used the material to create a fake listing on Facebook for the property, and then persuaded the two women to part with £600 as a deposit and £600 as a month’s rent in advance, which they paid they bank transfer. But Jenny and Cheryl did not get to see inside the property in person and instead were told the keys weren’t available. As an alternative, they were told to visit the property and look through the windows. The landlord then asked the two women for references and copies of their driving licences. Perfect home After they told the fake landlord that it was their “perfect” home because pets were allowed, they were then asked for a further £400 as a ‘maintenance fee’ but became suspicious the payments…
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Charity
Martin & Co Supports St Peter’s School in St Albans
Martin & Co, St Albans was proud to be the headline sponsor for the St Peter’s School PSA Black Tie Gala Dinner and Auction, held at Sopwell House. The event raised £10,000!
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Latest property news
What retirement? Michael Stoop rejoins Winkworth after 25 years
Veteran industry franchising heavyweight Michael Stoop (pictured, below) has re-joined Winkworth as a consultant 25 years after he left the company. Michael started at Winkworth in 1976 but just five years later was the first person to open a franchised Winkworth office, at a branch in Parsons Green, central London. He then sold it on to a new Winkworth franchisee in 1988, having earlier been made Managing Director of the company. Four years later in 1992 he left Winkworth to join Xperience, the franchising division of Legal & General, where he worked for 22 years before joining Martin & Co as Group Managing Director in 2014, after it bought Xperience for £6 million and then rebranded as The Property Franchise Group. This new group company then brought together Martin & Co as well as the brands Michael brought with him including Ellis & Co, CJ Hole, Parkers and Whitegates, under one umbrella. Last year The Property Franchise Group added online-only agency Ewemove to its portfolio in a deal worth £15m. But in August last year Michael retired from The Property Franchise Group and set up Michael Stoop Property Services with a member of his family, which at Companies House is…
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Latest property news
Martin & Co franchisees to be offered new ZPG deal
Martin & Co parent company The Property Franchise Group (TPFG), which also owns five other agency brands with nearly 400 branches across the UK, has signed up to a long-term deal with ZPG that will be available to all its franchisees. TPFG is the UK’s biggest estate agent franchise operation in the UK and ZPG says the deal will see a ‘large number’ of TPFG’s brands returning to its online platforms. Martin & Co has also separately signed up to use Jupix, the ZPG-owned property software suite, for a further three years. TPFG will now offer the negotiated listings deal to all its existing members, but will be of interest most to those who have not signed up with ZPG yet, or who thinking about leaving OnTheMarket.com. This was the case for the Exeter branch of Martin & Co whose MD Christopher Perring (pictured, left) says he signed up to ZPG after leaving OnTheMarket following “poor lead levels and a lack of external marketing of OnTheMarket,” he says. Of the TPFG brands, Martin & Co currently has 109 out of 175 of its franchisee branches listed on Zoopla while CJ Hole has three out of 21, Ellis & Co 14 out…
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Features
Does your staff training pack a punch?
Competition, the threat of tighter industry regulation and the emergence of online-only agents mean that training is now increasingly a frontline activity, reports Nigel Lewis.
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Latest property news
Profits, profits, profits!
Belvoir Lettings PLC announced its Preliminary Results for the year ended 31 December 2015. Group revenue was up 19% to £6.9m (2014: £5.9m); Growth in Management Service Fees (MSF) was 25% to £4.0m (2014: £3.2m), consisting of 12.5% (2014: 11%) from the organic growth of the Belvoir network and 12.5% from the mid-year network acquisitions and revenue from property sales up 60% to £1.4m (2014: £0.8m) Mike Goddard (left), CEO, said, “2015 was a pivotal year for Belvoir. The Company commenced its strategic vision of a multi-brand operation with the acquisitions of Newton Fallowell and Goodchilds. As a result of these new networks and seven new Belvoir territories, our UK coverage has increased by 31% to 212 outlets and adjusted profit before tax is up 36% to £2.4m. The Board appreciated the support of our shareholders in funding the mid-year acquisitions and I am confident that the coming year will see the full impact of our successful multi-brand strategy as the new brands become further incorporated into the Group.” Winkworth revenues rose 6.7% to £5.87 million on franchisee turnover of £49.0 million; Profit before taxation down 1% to £1.91 million; Ordinary dividends payable up 10.2% to 6.5p per ordinary share;…
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Agencies & People
Short cuts to success
Sheila Manchester explores the opportunities presented by franchises and similar business models.
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Agencies & People
Big wheels keep on turning
Andrea Kirkby investigates corporate strategy in a difficult market.
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