Online agent Yopa has challenged a claim in an EYE story that a merger of Tepilo and Emoov would put the new entity in second place behind Purplebricks and ready to mount a challenge.
Yopa said that this is incorrect as it already has more properties than Emoov and Tepilo combined.
It gave us these figures:
Tepilo has 2,184 properties listed on Rightmove and 1,475 if you exclude SSTC and sold properties.
eMoov has 2,102 properties listed on Rightmove and 1,375 if you exclude SSTC and sold properties.
So combined, the two would have 4,286 properties listed on Rightmove and 2,850 if you exclude SSTC and sold properties
Yopa has 4,488 properties listed on Rightmove and 2,891 if you exclude SSTC and sold properties so Yopa is already bigger than the combined Emoov/Tepilo entity.
However, the source of the original ‘second place behind Purplebricks’ claim was yesterday sticking to it.
It is known that a third, so far un-named, party is also involved in the merger.
The source told us that when the overall deal is concluded, the new entity will indeed be in second place behind Purplebricks.
There has been no update on the progress of the merger and no comment from either Emoov or Tepilo.
Comments (11)
It strikes me there is momentum via media advertising for yet another year of investors being fleeced on the idea that one day all the others will have fallen by the wayside, so stick with us and give us your money. All sounds great on paper, the reality is the big financial institutions tried to do it and none of them survived the industry with hands-on. About time someone outside of the industry latched onto the true worthiness of these companies and put them into a real perspective for investors.
What I also find appalling is the way that RM and the like, allow their platforms to be skinned by these hybrids with many “for sale by private sellers”, when if high street agents do it, they come down on them for breach of contract terms.
This story is more interesting than most have picked up on. On the current figures, that means Tepilo are selling 32% of their stock, Emoov 34.5% and at least Yopa are storming away with 35% success ratio!! Nearly knocked my coffee over laughing at those!
On that bombshell….no doubt some of the eagle eyed will remember that stat for the future!
I was thinking the same
Me too and that’s based on under offer, not completions. What a joke they all are. This wild west show has been allowed to go on for far too long.
We had an agent in town few years back. Had the largest amount of stock. They won nearly every instruction as they were ultra competitive on fee.
Within 18 months they had closed their doors. The model was not sustainable.
The owner is now a postman.
Comment of the year to date
Is that the same postman that went into TV advertising?
He always said he would deliver in the long run
Its just embarrassing to claim you are bigger but that extra size is 41 STC properties, which the way these companies operate probably fell through yesterday anyway
Interesting to have a p***ing contest when they are both p***ing into the wind.
No update because they still trying to work out how to scam the investors even further and the best way to package the deal.