Spec, which provides ‘all-in-one marketing for estate agents’, has announced that it is closing its operation.
The platform, which provides ‘next generation’ property marketing materials, has emailed clients to inform them that it is closing as a result of tougher market conditions; ‘Thank you and goodbye (for now)’, is the email header.
The email states:
‘Due to the significant challenges within the London residential real estate market and macro-economic outlook we have decided to pause the services of Spec with immediate effect.
‘The entire Spec team would like to say a huge thank you for your support since our launch in June 2019.
‘Spec anticipates it will return to the market as conditions normalise in the future.
‘Please take this email as formal notice that Spec Agent will be switched off from Friday 24th March, orders scheduled to Friday 31st March will be captured and delivered, scheduled orders post Friday 31st March will be cancelled.
‘We wish all of our loyal customers the very best during this challenging time.
‘If you have any questions, please contact support@spec.co or your account manager.
‘Thank you again and we hope to see you again in the future.
‘The Spec team’
Market conditions? Unsustainable pricing more like.
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Closed after racking up £26million of losses, where do they get these VC’s from ? They must have spun them quite a story, everybody providing similar services knew that the only business they had was because of price.
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