Hunters, part of The Property Franchise Group (TPFG), has launched a new hybrid business model that will allow individual agents to operate under licence using its brand name.
Two agents have already signed up to Hunters’ Personal Agent model, which will provide a platform for agents to benefit from the brand name, while having the flexibility to work on their own terms.
The two agents signed up so far will be attached to the company’s Castleford branch.
Based out of existing Hunters’ hubs, with optional working from home, Personal Agents will be licensed to operate under the Hunters brand and can benefit from full franchise support including marketing and social media, portal access, industry-leading training and software. There is no joining fee and minimal ongoing business costs, with the due diligence and on-boarding process from two weeks.
The model is primarily designed for those with experience, such as valuers, looking to take a new step in running their own estate agency business in their locality, as well as those looking to choose their own working hours or even semi-retire.
Keira Wiles, one of two agents to have signed up to Hunters Personal Agent, said: “To some degree running my own estate agency has been in the back of my mind for the better part of a decade; it was just a matter of figuring out the correct route and timing.
“Starting completely from scratch wasn’t an option for me because I knew I needed a good strong support network. The support on offer goes above and beyond any of my initial expectations, from The Training Academy for brushing up on compliance to the wider support from the team across all aspects of the business.
“The positivity and support I have had to date has been invaluable, every query has been handled with confidence and professionalism and I am so proud to be moving forward with such a reputable trusted brand.”
Glynis Frew, managing director of Hunters, commented: “We are committed to continually evolving our offering to meet market demands and differing personal needs, with increased flexibility forming a key part of this.
“This franchise model is designed to offer agents full flexibility in running their own business, with Personal Agents getting the best of both worlds including access to our industry-leading training and marketing support that can give them the competitive edge.
“We also want to empower our staff – there is long term potential for Personal Agents to become franchise branch owners. With over 200 branches nationwide, the majority of which are franchise owned, we have clear proof in the success of this model and look forward to further growth through 2021 and beyond.”
This is the beginning of the reversal of the Hunters branch network which will shrink in the next two years.
Before being bought by PFG, these two chains were already struggling to keep branches open and PFG had been going backwards for a while, closing far more than branches than it was opening. Hunters was barely standing still. After this year, shrinkage will follow – remember this forecast.
And do not forget to repay your furlough and grant monies Mrs Frew. You have taken almost a million in cash from these businesses this year, personally. Is it acceptable to keep taxpayers money on this basis?
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It seems that many firms are looking to follow the spicerhaart strategy which comes as no surprise. Many more will follow – the ultimate question is whether or not a company following this model can offer a proposition attractive enough to differentiate itself from a more traditional SE operation. Interesting times. The comment about furlough is not particularly fair – how many EA businesses needed to take the furlough benefit and how many have repaid? Hunters are not alone on this and people have to consider what the industry would have looked like without it.
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Firms just want to reduce salaries even more
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This model is actually a stepping stone for the best agents to build a business and brand in their local area, and then to go fully self employed as a personally branded agent within the likes of eXp, KW etc.
It is an acknowledgement that the traditional bricks and mortar agency is slowly coming to an end.
There will always be a place for those who wish to learn agency within a branch – next step doing it from home under the same brand, but they are still building someone elses business, in this case Hunters, and then the best will want to keep most of the commission themselves and go fully self employed using eXp/KW as it is very low cost and the referred business will come to the individual based upon previous great performance.
That is the future. Get on board now!
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I wonder how existing franchisees will feel about these plug-in hybrids benefitting from The hunters’ brand/model etc on a no money down / no risk basis? Other than franchisee selection, a franchisor takes on very little equity risk, it is the franchisee who has all of the financial and emotional risk and the franchisee collective who makes or breaks a franchise chain. I would imagine the existing hunters business owners will see the hybrids as freeloading johnny-come-latelys.
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Anybody know typically how the percentage splits on fees work with these Hybrid types of business models?
Hunters have marketing costs etc.
Agent has NI Pension Vehicle Costs etc
Roughly?
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