Three-quarters of candidates registered with a specialist recruitment agency want jobs with independent agents not corporates.

Richard Lloyd, of Lloyd May which places mid to senior estate agents throughout London and the home counties, said that 76% of his current candidates would prefer to work for an independent.

He said this partly reflected different management styles. But he added that independents are currently offering higher levels of remuneration “which for many is the clinching factor”.

Lloyd said his firm’s research shows that people in independent agents also stay 20% longer than in the corporate world.

Lloyd added that Countrywide’s buy-back of its own shares – reported in Eye yesterday – could be an indication that the business has stopped growing.

He said: “There are two schools of thought on buying back your own shares. The first is that it is good housekeeping. If the market does not believe in your business, then take out the stock overhang to improve your share price.

“The counter argument, perceived by the stock market, is that the share buy-back signals the business has stopped growing.

“The management of Countrywide seem to believe it is better to buy the shares than invest in new offices and staff.

“Anecdotal evidence of rationalisation, a continued coming together of its London and provincial brands and the release of Sotheby’s could also imply less emphasis on growth.

“Such a strategy seems very contrary to recent news from the likes of Knight Frank, where there is a definite growth theme with more office openings. So why might there be a difference in strategy?

“We believe there is a strong correlation between the way senior management have to run their businesses and the pressure from their shareholders.

“In general, corporates are motivated to continually drive earnings per share growth to placate shareholders. Similar-sized independents take a longer-term view of building their network, brand and crucially their talent pool.

“These different management styles have a direct impact on how agency staff view their employer.”

www.lloydmay.com