Tepilo, Sarah Beeny’s online estate agent, has moved to a new headquarters in central London.
It says this is to accommodate its rapidly growing team. A spokesperson confirmed that the new London office will not be a high street operation, and that Tepilo remains an online operation.
In the past 12 months, the company said it has dramatically increased the size of its team and now employs 60 staff, who will all operate from the new office on the fourth floor of a building in Monument Street.
The company said that its turnover has also more than doubled in the last year, and that it plans to continue this level of growth in 2017.
Beeny said: “2016 has been a hugely successful year for Tepilo, and we want to build on that further in 2017.
“A recent report by Zoopla revealed that 39% of people would be likely to use an online/hybrid agency if selling their property, which is a clear sign of progress for our sector and the growth potential ahead.
“As we’re a digital business, being in the capital where there’s an abundance of digital talent was a key part of our growth strategy.
“We are on track with our expansion plans and our new, larger office will allow us to comfortably house our existing employees, whilst also giving us the space to take on further staff as we continue to develop.”
Tepilo, which has moved from an office in Essex, charges from £495 upfront. However, it charges another £295 to vendors who do not use its conveyancing services. We did check with its chat service that this would mean the basic service actually costs £495 plus £295 and were told this is correct.
Those who do use the conveyancing service need to add £599 plus VAT to their bill.
The firm’s helpful chat service told an inquirer yesterday evening: “As far as I know, this £495 package is about as good value as there is. As with any industry, there are always cheap alternatives but with the service and online tool we provide, you get fantastic value for money. There are no other hidden costs. Hope this helps.”
Unfortunately, our chat service was then disconnected, as it apparently took too long.
Comments (22)
I saw the Tepilo TV advert last week & Sarah Beeny stated they sell 100s of houses every month – that means at least 200 every month but the figures mentioned above don’t seem to support that statement ?
She does not own the company any longer does she? , I think she is still a shareholder but only as a figurehead really. She should keep her mouth shut and just look good for the TV, although that debatable these days.
Northern and Shell are the major shareholders and Sarah Beeny and husband are the largest individual shareholders so she is still VERY interested in how this performs and will do all she can. She has milked the Channel 4 program about selling houses very effectively so far…Tepilo nearly died a few years ago.
Lies and damn more lies. So £495 has never ever been that figure you can pay. H’mm seem to recall many a company has been fined for misleading the public by the OFT. So where are you, your supposed to stop this practice!
£495 plus £295 for not using conveyancing = £790 is that plus vat? Why the need to load £295 = blackmail to use their conveyancing!
£495 plus £718.80 using conveyancing with vat = £1,213.80.
Neither are anything like £495. Lies damn lies, disgraceful behaviour. It is time that people like this are exposed for what they are. They had no intention to only charge £495 and from what this article says, have never offered?
Yeh and DFS really have a sale on and Safestyle really will give you the upstairs windows for free.
I agree surely if your headline price is £495 you cant then say buy only if you use our conveyancers otherwise you have to include their fees too.
Could I sell you a lollypop for 1pence but only if you give me £1 to come inside the sweetshop first?
Could I advertise “buy lollypops for 1pence and save pennies on standard lollypop prices from other sweetshops”?
know what I mean ?
I used to really like Sarah Beeney on her programmes a few years back. Now it seems she is inrtent on undermining the very industry that contributed largely to her succcess ….and for what… she surely must have made enough money from her shows to last her a lifetime? Why does she want to try and take business of my little family agency, when times are hard enough as it is?
What you see on the telly is nothing more than PR and just about all on-liners behave this was. Its off camera you start to see the real person for what they are?
And she is NOT very much… Been on the TV too long, spin spin and spin…. Saying it loud and long enough and she has begun to believe her own publicity.
Dig deep with any vendor and the No. 1 thing they want is top £££ for their prop. Everything else is incidental. Ask them who they think most likely to achieve that, a local proven expert or a far away call centre ?
We have all learnt from experience (utilities, insurance, broadband etc) that call centres are a nightmare to deal with, best avoided.
Yet they still soak up instructions in spite of this. How ? because in the eyes of the public estate agents are all the same, they all spout the same sermon, they all do the same things, advertise in the same places and all their listings look the same. So if they are all the same I will have the cheapest one ! logical.
Where many agents let themselves down is in failing to tangibly differentiate themselves from the competition and failing to prove their value.
The value is there. The differences are available.
Hi Blue…are you an independent agent? interested in what you say….just wondered what you do to differentiate yourself?
Meanwhile PB share price is only a little above it’s initial flotation price.
Xmas is coming the geese might be getting fat but the staff at PB look like they may be on a diet !!!
Best last paragraph to an article I’ve read in a while!
Has anyone got the link to the Zoopla report? Does anyone know what the number of properties/turnover is for Tepilo? 60 staff in a London office doesn’t sound cheap to me……two to three million?
It’s a serviced office they have taken up by the way! http://prospectbc.comhttps://storage.googleapis.com/eye-prod-media-assets/uploads/2016/07/Prospect.MONUMENT.2016.v2.pdf
I would like to know what the 60 staff are doing, are they playing ping pong like at google? They only have 945 properties for sale so why 60 staff?
‘Beeny said: “A recent report by Zoopla revealed that 39% of people would be likely to use an online/hybrid agency if selling their property…”
So – WHY AREN’T THEY, Ms BEENY?
Zoopla talkin’ to the wrong people, apparently…
“39% would be likely to use an online/hybrid”. I admit to not having seen this article, but would imagine this figure is some where between made up and complete fantasy, that is unless the options were A) Online agent B) Hybrid C) Neither….thus 61% said Neither.
And to sum up this article, Tepilo considers itself not to be “cheap”….and once the call centre chat becomes too involved they cut you off…….and their turnover has increased….but like all the other call centres, doesnt mean they are making any money
Nothing shouts high quality than an estate agent who cant be bothered to talk to you.
Dont print %’s ,, print real figures. They have sold nothing in last 3 years and probably had 2 staff…..easy to make % sound good…look at PurpleShits for proof.
Take a look at the company that now owns most of Tepilo, does not look good..
Northern and Shell ventures Ltd
Well spotted and it isn’t a surprise that venture capitalists are circling what they see as a new area. Even Savills have done it with Yopa! There will be others I’m sure, if they thrive then they have achieved their ‘disruptive’ investment, if not it is another tale of IT woe! These companies are all spending less than the banks and building societies did in the 80’s and 90’s to disrupt the industry….watch this space.