online estate agency
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Latest property news
Hybrid and online estate agencies win market share during Covid
But, while people embraced online alternatives in many areas of their lives during Covid, it only moved the dial by 1.3% for hybrid estate agencies.
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Latest property news
Former Reeds Rains estate agent launches online estate agency
Sian Beech says her new company Feeneys, based in Stoke, has already sold five houses subject to completion.
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Latest property news
Property industry lost 339 branches last year despite sales boom
Independent branch numbers grew but SME and hybrid estate agencies lost the largest number, says TwentyCI.
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Latest property news
Fintech pioneer launches free-to-list estate agency to rival Purplebricks
Ray Rafiq-Omar says his online estate agency will make it money from arranging mortgages for buyers who register to view properties advertised on Rightmove.
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Features
Essential guide: hybrid and online estate agents
The online agent model is 24 years old while hybrids have been around since 2015, and yet they've only grabbed 7.5% of the sales market. Nigel Lewis looks at way they haven't fulfilled their potential...yet.
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Movers & Shakers
easyProperty announces new MD
easyProperty has appointed Russell Humphrey as Managing Director of their online estate agency business. Humphrey, formerly of YOPA, has extensive experience in independent, corporate and online estate agency.
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Agencies & People
Purplebricks floats on AIM
Purplebricks, which allows homeowners to sell their properties for a flat fee from £665 plus VAT, floated on the AIM market last week at a value of £240.3 million, with shares initially trading at an opening price of 104.5p before dropping to 96.5p. The company, which launched in April 2014, is backed by some heavyweight investors, including prominent Fund Manager Neil Woodford, Paul Pindar (left), the retired Chief Executive of outsourcing group Capita, and Errol Damelin, the Founder of payday lender Wonga. Purplebricks, which has swiftly established itself as the number one online estate agency, prides itself on offering a cheaper service than traditional estate agents and currently lists in the region of 4,300 homes for sale, and said its market share among the top six online estate agents had grown to in excess of 60 per cent. Purplebricks charges a flat fee of £665 plus VAT for a sale in the UK, rising to £965 plus VAT in prime London post codes. There are some additional charges for a premium service. The funds raised from the float will allow Purplebricks to increase its presence across the UK, according to Chief Executive Michael Bruce. He said, “The funds raised will…
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Agencies & People
Purplebricks float expected to value firm at £240m
It looks as though Christmas may come early for Purplebricks after it was announced that the firm’s float on the stock market this month could value the online estate agent at as much as £240 million. The company, which launched in April 2014, is backed by some heavyweight investors, including prominent Fund Manager Neil Woodford Paul Pindar, the retired Chief Executive of outsourcing group Capita, and Errol Damelin, the Founder of payday lender Wonga. Purplebricks, which has swiftly established itself as the number one online estate agency, has now raised £58 million from selling shares to institutional investors. The company is now expected to start trading on Aim, London’s junior market, on 17th December. The online estate agents prides itself on offering a cheaper service than traditional estate agents and currently lists in the region of 4,300 homes for sale, and said its market share among the top six online estate agents had grown to in excess of 60 per cent. Purplebricks charges a flat fee of £665 plus VAT for a sale in the UK, rising to £965 plus VAT in prime London postcodes. There are some additional charges for a premium service. It is understood that the online…
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