YOPA
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Latest property news
Home owners paying £250m a month in estate agency fees
Land Registry figures show that the price of the average property sold in England and Wales in January 2016 was £190,658. High street estate agents typically charge sellers a 1.8 per cent commission fee, meaning, says the ‘hybrid’ agency YOPA, that they made an average £3,431 in fees for every sale. A total of 77,170 properties sold that month, for a combined value of £20.7bn, which equates to more than £250m paid out to high street agencies, which control around 95 per cent of the residential market. That is almost five times the amount they were paying 20 years ago when the average property sold for £59,278, netting estate agencies an estimated average commission of £1,067. Property sales totaled £3.1b in January 1996, according to Land Registry figures, which equates to £56.9m in fees to estate agents. The trend is most pronounced in London and the South East where property prices have risen most in the last two decades. In London, the average property now sells for more than £500,000, handing estate agents almost £10,000 in commission per transaction. Detached properties in the capital sell at an average £929,680, equating to an average commission of more than £16,000. In the…
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Latest property news
Yes, it’s YOPA!
Hybrid estate agency YOPA is gearing up for a national roll-out this month. The estate agency is launching across England and Wales after reporting successful pre-Christmas pilots in the Granada and Meridian regions. YOPA says its combination of Local Property Managers (LPMs) and cutting-edge industry technology is proving a hit with vendors. One LPM operating in the North West sold three properties in three days before Christmas. YOPA had been marketing all three for less than two weeks and two of them had previously been on the market with traditional high street agents. YOPA – www.yopa.co.uk – says that it is regularly saving its customers an average of £5,348 on estate agent fees by charging vendors a flat fee of just £780. The firm, which has its head office in London, has so far hired over 100 LPMs and will have a further 60 in place by the summer. A number of them have previously worked for some of the biggest names in the estate agency industry. YOPA’s four founders – Joint Managing Directors Daniel Attia and Andrew Barclay, Finance Director Alistair Barclay and Chief Marketing Officer David Jacobs, say that its national roll-out will include a major advertising campaign…
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Agencies & People
YOPA steps up efforts to ‘revolutionise’ the industry
YOPA (Your Online Property Agent), which hopes to revolutionise the estate agents industry in the same way Uber has caused commotion in the taxi sector, has launched its services in Greater Manchester, as part of its expansion across the North West of England, by appointing veteran agents David Higham and Tim Shinners to lead its push in the region. Higham, from Warrington, has worked in the property industry for almost 30 years while Shinners, from Bolton, has almost 15 years’ experience. “We know that people across Greater Manchester want to get the best possible price for their property, are looking for a 24/7 estate agent with the latest technology and they’re fed up of being ripped off by excessive estate agent fees,” said YOPA CEO Daniel Attia (left). YOPA, which has some heavyweight investment backing and strong media links, with two of its Directors related to the Barclay brothers, owners of the Telegraph, hopes to revolutionise the estate agents sector with their online offering by charging vendors fees ranging between £450 and £810 depending on the service chosen. Attia added, “Our winning combination of online property consultants and easy-to-use web property marketing platform frees our local experts to accurately value…
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