An online estate agency is launching what has been described as a ‘quasi franchise operation’ it calls ‘Agency In A Box’.

Online Estate Agents, a company which has the Sellmyhome and RentMyHome brands, is behind the partner licensing system, which it says allows applicants to “effectively” keep 90% of their fees.

The model has no entry fee but charges licence holders £500 plus VAT per month and takes 10% of each transaction fee.

Licencees get the use of a back-office team, marketing, training and what managing director Shezad Tayub calls “a recognised brand” with access to major portals and a CRM.

Tayub said: “All they need is a desire to achieve the best and be part of something that will become a national, household brand.

“We’ve already received a lot of positive response from potential partners and the fact we are waiving the first three months management fees for the first 50 successful Partners, demonstrates we are willing to contribute towards their success.”

He says the Rentmyhome brand delivers a full lettings and property management business and his newly launched Financemyhome brand “is already generating a significant contribution.”

Sellmyhome charges an upfront “essential standard” fee of £799 to £999 including VAT, and a no sale no fee “essential plus” at £1,499 to £1,999 including VAT. There is also a “premium traditional” charging from 0.75 per cent plus VAT.

Tayub added: “one of the biggest impediments to setting up an agency is the cost and compliance aspect. Having started and successfully grown a real estate business, I wanted to empower top performing property professionals to reach their full potential by removing the significant cost barrier to running their own agency. The fact this will help us achieve our goal of national growth makes it a win-win for the right person.”

The model has no entry fee, a nominal monthly fee of £500 plus VST per month and a 10% per transaction fee.

He continued: “Licencees will effectively retain 90% of their fees and will be supported by a back office team, marketing services, training, a recognised brand and access to the major portals and industry leading CRM.

“It’s effectively an ‘Agency in a Box’ and delivers everything an agent needs to drive their success. All they need is a desire to achieve the best and be part of something that will become a national, household brand. We’ve already received a lot of positive response from potential Partners and the fact we are waiving the first three months management fees for the first 50 successful Partners, demonstrates we are willing to contribute towards their success.

“The opportunities for creating a long-term, sustainable business of their own is enhanced by our additional brands, all of which deliver attractive, ongoing revenue streams. Our Rentmyhome.co.uk brand delivers a full lettings and property management business and our newly launched Financemyhome.co.uk brand is already generating a significant contribution to our Group and benefit to staff.

“With a suite of end to end property solutions, an agent who is currently performing well, but perhaps lacking the recognition and reward they deserve can now take back control of their future and retain the vast majority of their revenue. We look forward to hearing from applicants who will partner with our brand, but build on their own profile as great agents in their local area, with no territory restrictions.

“We believe in making it easy and our model is easy to enter and easy to exit with only a rolling 12 month contract and option to renew. We are not interested in creating punitive, long term contracts as we believe a contract is only as good as the relationship that underpins it. If it is not working for an agent they can move on. However, we’re confident that by creating the right environment for success and leaving the agent with the lion’s share of reward, we will all benefit.”