online agent
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Latest property news
Industry power couple launch off high street estate agency
Celia and Patrick Paton say Covid has proved agencies don't have to operate a branch to be successful.
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Latest property news
Estate agents earn £4,770 per sale, claims zero-fee hybrid agent
Strike, formerly known as HouseSimple, says its research shows traditional agents are charging too much.
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Latest property news
A third of furloughed staff including some online agents asked to work
Survey of employees across several industrial sectors including online estate agents finds widespread abuse of the Coronavirus Job Retention Scheme.
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Latest property news
Sound familiar? Hybrid lettings platform launches vowing to ‘replace agents’
Kiko will offer landlords an app and a host of free services and only charge for property management, viewings plus prepare and renew contracts.
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Latest property news
Online agent reported to watchdog over ‘misleading’ ads for parcels of land
An agent based in London that specialises in land and property for investment purposes has been reported to the Advertising Standards Authority (ASA) after a member of the public complained about one of its online ads. Exclusive Property Sales and Consultants sells land, commercial and residential investment opportunities and has an address at serviced offices near Victoria railway station. It describes itself as an online agent. ‘Misleading’ ad It was referred to the watchdog because, it was claimed, its advertisement for several parcels of land in the Home Counties could have been construed as misleading. The property advertisement was seen both on its own website and on Rightmove and Zoopla and, the complainant told the ASA, did not make it clear that access to the parcels of land for sale was only either on foot or by tractor/4×4 via third party land. “We brought these concerns to the advertiser’s attention,” the ASA says. “It agreed to amend the ads and remove any statements about the access or use of the land.” Following the informal agreement between the ASA and Exclusive Property Sales and Consultants, the offending ad appears to have now been removed from the company’s listings. Read more about…
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Latest property news
UK’s first council-owned online letting agent launches
The outsourced housing department of Brent council has launched its own online letting agent for the private rental market.
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Purplebricks revenues in UK more than double
Purplebricks has revealed its interim results for the past six months ending October 31st which include UK revenue up by 118% to £39.9 million and a doubling of its Local Property Expert team to 650. Its overseas operations in Australia and the US are doing well too including revenue of £6.8 million in Oz and “solid progress” in the US where it now has 40 ‘local real estate experts’. But it’s most successful market remains the UK where Purplebricks has increased average revenue per instruction by 14% to £1,138. The UK operation also now claims to have 74% of the hybrid online agency market, with the next largest behind it, Emoov, a minnow by comparison. Online reviews One item sticks out in the results – Purplebricks’ reliance on its controversial listing with Trustpilot, on which it highlights a ‘five-star’ rating in all three markets. No mention is made of its recently-reinstated listings on allAgents. Purplebricks says that once the results are finalised it expects to report revenues of £84 million and £12 million in Australia. “We continue to win UK market share from traditional operators in what is a challenging market and consolidate our leading position with competing digital and…
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Latest property news
Airbnb-style lettings platform launches for tenants and landlords
A new Airbnb-style online marketplace called HomeRenter has launched that competes directly with traditional high street and online letting agents with a ‘third way’ business model. Based in London, it claims to be taking an unusual approach to lettings by creating a community where both landlords and tenants talk to each other directly about both properties to rent, and property management. The company says that landlords, once they are registered on the site, create listings on its platform that are then uploaded to Zoopla and Rightmove. Tenants and landlords then use HomeRenter’s website to liaise on viewing times, conduct referencing and sign a rental contract. One unique feature of the site for landlords is that it saves their listings as online adverts which anyone looking for property to rent can register to receive alerts for when the existing tenants move out – effectively ‘bagging’ properties in advance. Unique charging fee The site’s charging fee is also a first for the UK. Landlords pay a yearly subscription which at the moment is £49.99 and includes tenant referencing, 24-hour telephone support, keyholding and an outsourced viewing/keyholding service. HomeRenter says the low price is an introductory offer and after the site has launched…
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Features
Rise of the machines
Could the internet estate agent model really terminate the high street agent? Joanne Christie reports.
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Features
What, exactly, is Purplebricks, Mr Bruce?
CEO Michael Bruce says that it shouldn’t be considered to be an online agent and explains why his company went for an AIM listing so early in its development.
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