Humberts has announced a profitable first four months of trading under its new ownership after being bought out of administration.
Its performance, said the firm yesterday, has exceeded management’s expectations, although it gave no actual figures.
However, the firm said it is demonstrating its place in the market as “trailblazers of a new estate agency culture” after shutting all of its high street outlets.
Humberts now operates out of hubs, the first of which in Poundbury, will be unveiled later this year.
The prototype Poundbury hub is a 4,500 sq ft new office which will showcase Humberts’ move to becoming full service agents headed up by a team of property consultants and lifestyle concierges.
The hubs model is forecast to boost Humberts profits “even further”, said the firm.
It has allowed the company to move into new territories including in Devon, Somerset, the Cotswolds and Cheshire.
The company said it has additionally been able significantly to increase marketing spend.
Yesterday’s statement said that Humberts’ competitors were using “out-dated trading methods”.
New boss Matt Spence – whose company Natural Retreats acquired Humberts – said: “We are moving into a new era where customers will enjoy working with their Humberts property consultant.
“For the most part, the UK market dreads interaction with their estate agent due to historic inefficiency and we are proud that Humberts is changing that.”
Director of sales and marketing Tim Simmons said: “The positive trading results have given us a huge boost – both in terms of company morale after a tough few years, and our company budgets.
“This is a hugely exciting phase for Humberts and we are pleased to say at this point there is still plenty more to come so, watch this space.”
A spokesperson for Humberts confirmed to EYE that no figures were being released.
The trading statement was also silent on its franchisees.
Comments (3)
I believe that this kind of model is the future, having high-street stores is just so expensive unfortunately. But it takes hard work to maintain high-street standards. But either way I do like seeing companies try to innovate and do their best. Good turnaround, keep it up.
Losing all your costs but retaining the existing pipeline is obviously going to be profitable. The question is whether they can replace it once it’s cashed.
Their press releases and statements sound very similar to the trumped up arrogance displayed by Rob Ellice, and we all know how that ended.
They have closed a load of high street offices, retained most of their stock and downsized to ‘hubs’. Of course they would see profitable trading…initially!
I am an agent in area where Humberts’ most profitable branch operated…they closed it. Since then I haven’t been able to get any sense out of these ‘hubs’. Nobody seems to know who’s job is who’s.
How is this going to look from a customers point of view!? Ah, I suppose they can always just visit one of these pioneering ‘hubs’ and ask the ‘concierge’ service to recommend someone to trim their bush, that’s what sells properties!