High profile northern agent Castledene, run by industry figure John Paul, has opened its tenth branch.
The opening – a cold start – follows hot on the heels of Castledene’s acquisition of three-branch Red Hot Property in Northumberland.
The latest office is in Spennymoor, Co Durham, and means that Castledene has grown from six to ten offices in a matter of weeks.
Paul said he is very aware of industry sentiment and uncertainty.
He said: “I can understand why people are nervous about the industry but we have built a good solid business on the back of a large lettings portfolio and introduced sales in the last few years.
“We are in a great position to grow the business and this is a good location with lots of potential for rental and sales, with not a lot of competition.
“While is a terrible time for some agents, and I genuinely do feel for them, others who have structured their business in a certain way, will find many opportunities at the moment.
“We intend to grow even more in 2020 and are already in talks with several businesses to acquire them.”
Paul said that he is not a great sales or letting agent but is a businessman first and foremost.
He founded Castledene 11 years ago. With the latest opening, the business – which has featured on television for its care and management of vulnerable tenants on benefits – now stands at ten branches with 65 staff, a management portfolio of over 2,100 rental properties, and sales of over 500 a year.
Paul said that he is not a great sales or letting agent but is a businessman first and foremost…..
What the heck does that mean,, ??
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It’s the reason most estate agents are circling the toilet.
Most owners think they can do it better than the staff so never get out of the trenches, even when they should and have a few branches.
A larger agency really needs someone to understand the business but to be a delegator and build the business and not being doing the viewings as you can’t do both
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Agents need to be able to wear both hats, if not have two heads. One to run a commercial venture, the other the day to day business operations. Many fail because they can’t do both jobs. Corporates boards are not successful selling agents, that is left to good staff doing all the donkey work.
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