An estate agent which operates out of a hub has completed a £20m deal.
MyLondonHome, which operates out of Westminster, has sold the property in Grosvenor Square.
The agent concerned has worked in sales for under a year, but has previous lettings experience.
Ironically, MyLondonHome is today opening its first high street branch, in Lavender Hill, Battersea, while continuing with its centralised hub.
Steven Herd, founder of MyLondonHome, said that the sale of the £20m property was his firm’s largest deal to date – and he believes it to be the biggest by a non-traditional agent.
He said: “Prime central London deals of this magnitude have tended to be the preserve of a select number of agents. This sale however proves that our industry is entering a new era, with MyLondonHome at the front of the curve.
“There has been so much said about the rise of the internet agent but many have overlooked the hub model, which is delivering great results for our clients and the team.”
Herd founded MyLondonHome 18 years ago, and it has worked from its Westminster hub in that time.
Herd said: “The company is going from strength to strength. In a year where we’ve seen countless agents close or reduce their branches, it is proof that hub agencies work.”
He added: “We launched a new model last year where we combined the lister and negotiator role, giving our team the ability to influence the transaction from listing to completion and it is producing some great results across the price range spectrum.
“Combined with our office model, we believe we are perfectly positioned to grow to be a leading agent across London.”
He said of the new branch, which will be managed by Tom Gilchrist with Adam Anker as sales manager: “We will be covering all of Battersea, Clapham, Nine Elms and Vauxhall from the office – so maintaining a ‘hub’ feel with a larger catchment area than a typical high street branch.”
The firm’s lettings book was acquired by Stirling Ackroyd in 2018, but Herd said that in time he hopes to re-enter the lettings market.
18 years to open 1 branch.. yes that is inspiring high growth stuff…
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And the vendors commission was what?
They need to get their web site in order, you can drive a bus through their compliance!
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In fairness you can do the same for a lot of Estate/Lettings agents websites.
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“We launched a new model last year where we combined the lister and negotiator role, giving our team the ability to influence the transaction from listing to completion and it is producing some great results across the price range spectrum.
Whats new here???!!
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