Paul Hardy, who was recently appointed head of the estate agency team at LSL Property Services, following the retirement of executive director Helen Buck, said he is looking forward to the next chapter of the firm’s plans for growth.
Hardy, who started at LSL with Your Move Estate Agents back in February 2008, is busy working on long-term franchise agreements after the business yesterday announced plans to become one of the UK’s largest providers of estate agency franchise services.
In a statement yesterday, LSL said its entire owned estate agency network of 183 branches will become franchises. Long-term franchise agreements have been reached for 143 of its branches with agreements for the remaining 40 branches at an advanced stage.
Following their completion, LSL will become one of the largest providers of estate agency franchise services in the UK, providing services to a network of more than 300 branches.
All network branches within the Your Move, Reeds Rains and LSLi brands will become franchise businesses, with agreements negotiated with existing LSL franchisees and experienced former members of the LSL estate agency division management team.
This change means that branches will be owned and operated by franchisees that know their communities well and will be able to take decisions at a local level. LSL believes that this will encourage a more entrepreneurial culture that will provide the springboard for growth and create great opportunities for the staff working in the franchise businesses.
The franchisee network will continue to benefit from the distribution of other products and services provided by LSL, notably in financial services.
Around 1,200 estate agency colleagues will transfer to work within the franchisee network, with branch based personnel providing continuation of service to estate agency customers.
Hardy commented: “I’m delighted to have supported our estate agency network in this major expansion and I’m really looking forward to working with our franchisees and to supporting their growth in the future.”
Ummmm I’m a one ulcer man in a two ulcer job.
Never spoil a good negotiatior by making them a manager; some people are happy selling homes and don’t want the concerns worries and rewards that go with doing anything more than they’re doing right now.
Some people don’t want or need to be their own boss
I hope someone recognises that and understands the change that is being imposed might not be as welcomed as the Baldricks believe it to be.
Its none of my concern why this change of strategy came about but the market conditions that have existed since the end of the Stamp duty holidays and the transaction volume falls have created opportunities for some brave people but also some real concerns for people who were happy doing a days work for a days pay
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A good move for investors as shown in the city yesterday. They will need some heavyweight franchise experts and a decent operations team. It’s a very different world from corporate agency.
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A disasterous move for franchisees
Remember century 21 !
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Sage words Robert. It will take 6 – 12 months for any serious flaws to come to light.
In a market where sales are falling, the weaknesses in a small business, such as lack of cash flow or lack of experience, will potentially be lethal.
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Spin in it? Another agent on its way out..
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You want to be the success in the letting
Rule 1 everyone on the flat fair whether they want the flat fair or not
Rule 2 all friend from countrywide under bus then no competing for big job
hahaahahahahahaha
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In English ?
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I assume from the release to the stock market that no money changed hands for the franchises. If you add up what they spent buying the agents, especially the LSLi brands and add that to what they paid for Marsh & Parsons they have written off an awful lot of money.
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Always had a lot of time for Paul, very savvy and approachable.
And I think the franchising route is really clever, when you look at the stellar performance of your M&Co’s and Belvoirs its hard to argue
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