Out of 21 new franchisees who have joined hybrid agent EweMove this year, almost half have been launched by experienced estate agents, described as “defecting from some of the industry’s biggest names”.
EweMove says these include Countrywide and its flagship brand Hamptons, and Foxtons.
EweMove now has 110 branches across the UK, with a recruitment drive targeting agents rather than people from outside the industry – as was previously the case.
EweMove was acquired by the Property Franchise Group for £9m just over a year ago.
It lost £300,000 on revenues of just £900,000 in the first half of this year.
In June, the original founders Glenn Ackroyd and David Laycock left the business, foregoing any opportunity for an earn-out.
Their replacement as ‘head shepherd’ is Nick Neill, who yesterday put out a strongly positive message, saying that the business is “bucking industry trends”.
He said that properties sold across the EweMove network so far this year have achieved 97.5% of their original asking price – a figure which he said has been consistently achieved for the past four years.
Neill said: “With a significant UK-wide increase in house price reductions in recent months, we’re thrilled to announce our latest figures which are absolutely contrary to this.
“It’s clear that many agents are being impacted in some way by a combination of increasing living costs, stricter lending criteria and the continued uncertainty around Brexit, which is seeing buyers unwilling (or unable) to pay what sellers are asking for.
“It’s also evident that these latest figures are a result of over-zealous agents who are simply being unrealistic about the prices they’re asking for in the first place.
“But for us, this is simply not the case.
“Our entire ethos is focused on providing the highest quality solutions to our customers’ property needs and in understanding what they really care about, which is ultimately achieving a successful sale in terms of when their property sells and how much it sells for.
“This is why we’re committed to continually tracking and monitoring everything we do to ensure we get it absolutely right – from the property’s price and sales particulars all the way through to its presentation and carrying out all accompanied viewings.
“In addition, we are completely focused on delivering exceptional customer service and on developing relationships built on solid foundations of integrity and trust.”
Neill said that franchisees “can build hugely profitable businesses”.
Like lambs to the slaughter
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
……described as “defecting from some of the industry’s biggest names”. So not just those that Countrywide and co don’t want to keep as they each fight to see who can downsize the quickest. Once these new flock members are sheared of their joining fee, they’ll soon find that it’s still the same cut throat thin market as it was when they were watching the tumbleweeds go by in their comfy countrywide office.
If they’re that experienced why join a franchise, why not go it alone and save the monthly outlay?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Hi George, experienced agents are joining us, as are smaller independents switching to the ewemove brand, as our marketing methods deliver a significantly high volume of leads, which most people (even experienced agents) cannot find or develop on their own – so our franchise fee represents exceptional value as they can exploit our innovative brand and service. The costs of a franchise are significantly lower than a cold start-up from scratch!
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
We can’t moan that PBs LPE’s aren’t L or E and then moan when experienced members join another brand. Its good to see they are recruiting those of some experience and good luck to them.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Good luck indeed. It will be needed. Ewe Move yet to turn a profit.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Hi JAM
As we charged fixed (and low) fees to our franchisees, the profitability of Ewemove and the profitability of individual franchisees is not linked………..but as I have mentioned before – watch this space….!
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register