Online agency easyProperty is to launch into sales in September, its founder Robert Ellice has said.
In an interview with the London Evening Standard, Ellice said that the firm, which launched last September, currently has 2,000 landlords on its books and is aiming for 4,000 in the next 12 months.
In the interview, Ellice expresses doubts about the future for traditional agents, saying there is a whole new generation “who only understand technology”.
They do not, he says, even comprehend going to a shop.
Ellice says: “The vast majority of things will be done online. You don’t get people coming in the door any more. The traditional guys will be more niche, and there will be three or four online estate agents.
“Why can’t you transact seven days a week? Why do you have to take a day off to sort your references out? It’s not the way we live today.”
The article also looks at easyProperty’s business model, which is to charge nothing to list on the site, but to charge for other services. For example, to be on the major portals costs £9.99, while referencing is £49.99 and viewings are charged at £70 per hour.
Comments (11)
smile please – How can anybody dislike that comment? Try reading this cheap shot of yours again. “sleazyproperty or purplepri*ks”. No doubt you think you are real little clever d*ck.
Harree if that offends you I would suggest you get out more often.
Remember when easyProperty said they would be letting 4000-5000 properties a month by the end of the year?
http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11197819/Stelios-latest-wheeze-easyProperty-smashes-crowdfunding-target-by-30pc.html
I wouldn’t believe the hype, and their numbers have missed targets by an absolute mile already… Dead in the water before they even launch the sales business?
Well we may have seen foot flow drop over the last 10 / 15 years but as High St agents we still have an online presence.
In fact most leading local estate agents will have a greater online presence than a large mutli national such as sleazyproperty or purplepri*ks
What it boils down to is High Street offers the same and more than an online only firm – And are able to get a greater asking price and have a better chance of seeing the sale through to exchange.
How can anybody dislike that comment?
Easychris are you lurking in the background?
Have your bosses told you not to comment any longer?
I’m getting very bored of online agents changing their models. There is not room for them all, soon the cull will begin and one or two will win out. Probably the one with the most money. Easy property is in a strong position to ride this out. After is when the price hike will kick in. Traditional high street agents will always have 90% of the market as most people move locally and need expert advice, they can fight over that 10% all they want!
“They do not, he says, even comprehend going to a shop.”
All agents are online and to infer that someone has to go to the ‘shop’ to do business seems a bit desperate. Im sure all agents have the ability to interact with clients without face to face contact. But someones home means an awful lot to most people so having face to face contact as an option surely puts ‘traditional agents’ in a better position to secure business.
In next weeks episode, we show traditional agents how to teach pigs to fly
Hi Robert – many traditional agents don’t understand deep tech. But equally most new tech doesnt do the best for traditional models.
The budget agencies also collapse if main portals were to remove them as they’d then not have prime outlets.
Riding the surf budgets are likely to increase their share from 5% to 6% to 8% over tbe next 2 years
1. As they have big vc backing in many cases
2. Duoploy allows them in
3. OTM would need deeper pockets to become No.2,3,4 or above.
All said there is a better than portal way traditional agents could win ground back over budget agents. My guess is that it will take agents 2 years to wake up and smell the coffee.
“The budget agencies also collapse if main portals were to remove them as they’d then not have prime outlets.”……I know this has been mentioned many times before, but I wonder if the investors in these fledgling companies (with no track record) realise that if OTM does achieve its goals there is no “prime outlet” to sell the property? Perhaps this is realised by the founders of these companies which is why they are all clambering over each other to sell all of, or massive chunks of them as soon as possible.
Even giving away listings they can only boast 2000, and at no charge it’s embarrasing. I probably made more money doing a sponsored run the other weekend!!
As for Ellices comment, can I just remind him that a business is only better online if it makes more miney by doing so. What century will he be turning over even 10% of what Countryside and LSL have reported as profits in the last 6 months?!
I can answer that too…. never!