A hybrid estate agency is looking to attract mortgage advisory companies in a bid to build an agent/broker network.
Right Estate Agents, started by a former Countrywide agent Alison Bannon in 2010, is a hybrid agency where franchisees work from home in particular regions.
It is now looking to build the brand with mortgage brokers.
The firm has embarked on an email marketing campaign to brokers using details obtained through social media.
Right Estate Agents provides training and the sales progression, with properties marketed on Rightmove and Zoopla, but mortgage brokers would need someone to interact with the customer to get the property valued and on the market.
Mortgage brokers must have at least two years’ experience and can charge a fixed fee or commission, at a minimum of £995, to vendors with the income split 50/50 with the Right Estate Agents head office.
Brokers are being invited to “discovery days” over the next few months in Solihull.
Anyone who signs up will have to pay a one-off upfront fee and Bannon said contracts are renewed annually, with brokers encouraged to generate business from their existing database to offer their clients’ services.
Brokers will have to join the Property Ombudsman and arrange their own PI cover.
So far the business has five agent brokers and 12 franchisees but her aim is to get up to 60 joiners this year.
Asked about the strength of the franchisee model given the recent events surrounding EweMove, she said she was not worried.
She added: “When you become a managing director you don’t want someone else telling you what to do.
“Our aim is to provide high standards and give customers the support they need.
“It is important to have estate agents that are not only available and caring but trained so they can advise the next steps. We have never had any complaints.
“That is where self-service estate agents go wrong. Clients cannot manage the whole chain themselves so proper agents just end up picking up the work.”
Would respectfully suggest that Ms Bannon reads this mornings top post before she starts wasting qualified, professional mortgage brokers time, and making ridiculous promises that will never be fulfilled.
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Thank you for your comment PepeM. I have read the first article and it has no relevance to our business model ‘The Right Estate Agent Broker’. We are not an ‘online’ estate agency model but a ‘hybrid’ one – ( local agents but no high street offices). The agents that come under our banner are local experts in their area and undertake the real work that is required to help people to move home. We do not lie, borrow money or sell overpriced shares to keep our business going. We dig in when times are tough & like a lot of the decent High Street Agents we look to find new ways to help clients and not hinder their move for a quick buck. Our new model is designed to help mortgage brokers expand their service offerings to their existing data bases. I hope this has clarified our position. All the very best. Alison.
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Hi Alison
currently on your web site – 25 properties for sale across what 12 franchisees? so like 2 each ?
What does each franchisee pay to join? Im sure you would like 60 to join – 600 would be better !
I can understand setting up a franchise which will bring in some money for the franchisee but it cant be sustainable in todays market can it for the franchisee and thus you as the franchise owner?
You are an online only agent – nothing hybrid about it. You have people (franchisees) working from bedrooms valuing homes under the banner of Right Estate Agents – thats is it? Correct me if Ive got it wrong.
Im all for you setting up a business but blimey you are going to be struggling to make it work in todays climate as shown on the company records .
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Hello seenitall,
Thank you for your response. Unfortunately you have got it wrong. For more information about our Agent Broker model please visit our website. This is NOT a franchise model. Check out; The Right Estate Agent Broker dot com for full information. Have a wonderful weekend. Regards Alison.
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