The UK’s largest high street agent, Countrywide, says it has no plans to move into online estate agency although it confirmed having been in talks with one of the players, eMoov.
EAT understands that meetings were held in December and January.
It is understood the meetings were attended by Countrywide’s estate agency managing director Bob Scarff, head of sales Andrew Pennells and head of marketing Matt Hewitt.
The purpose and outcome of the talks are, however, unknown.
A source said: “The fact that an estate agent of the size and clout of Countrywide is taking a look at the online market is a very real indication of how seriously they are taking this. And if they are, perhaps some of the other big agents are thinking of getting into online business as well.”
There are currently some 40 online estate agents trading in the country, compared with perhaps six some four years ago. Estimates put their current market share at only 2%, but online agents themselves say that this is already growing.
Russell Quirk, who founded eMoov four years ago, would only confirm that talks with Countrywide had taken place and would not say whether acquisition was on the agenda.
Last week, Quirk announced that he is looking for a backer to take his business – which he says is rapidly expanding – to its next stage.
Countrywide confirmed that representatives from the company did meet with e-moov last year but said there are no plans to expand into online estate agency.
A spokesperson for Countrywide said: “As the UK’s largest estate and lettings agency with 1,300 branches across the UK, we fully support the high street model.
“However, like any well-run business, we are conscious of listening to the views of our consumers and are always looking at ways to meet their needs effectively.”
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Comments
Loving AC's post and lets be honest it doesn't take a savante to realise he's got a point. We can't seriously justify the vapid remarks about online agency so engage me in foreplay for a minute and ask yourself, why did Countrywide meet them?
Let that sink in for a minute...
Nirvana, who knows but Countrywide saw something worth a sit down and only those guys know how they left it. Speculation, but educated speculation or do we simply prefer the the earlier comments of those too smart for minimum wage?
If you look at Emoovs listings they are being done by 3rd party company with no uniformity whatsoever. Some ads have a paragraph of text, some full details, some have emoovs phone number on the bottom, I expect if you looked hard enough you could find one with the vendors details on as well.
''The writing is on the wall, you just haven't learned to read yet''
Thats rich coming from someone who sticks in a paragraph after every sentence. You know longing out your posts doesn't make them any more interesting.
Something tells me that you're not very good at your job AC. Photos and a description, is that all you do?
I think I would rather take a cautionary warning from someone who at least understands what a good listing looks like.
I haven't had a chance to say this in ages...
Doom, doooom, we're all doomed! You can look back through my profile for the number of times I said it before.
For the average man (or woman) owning the average property the current estate agent model is the equivalent of gouging.
For every sale that goes through and pays a commission, we usually agree 2.
For every 2 sales agreed we probably need 4 on the market.
For every 4 instructions we need to do at least 8 valuations (and that's if you are an absolutely sh*t hot valuer).
So that one poor sucker who pays a commission is also paying for all that failure.
No sale, no fee is an absolutely STUPID way to run a business - and it is a stupid way for a customer to want to pay for our services.
eMoov and the others really do have the right idea.
Because Mr/s Average's hourly salary is less than they would be paying an agent for the same job.
And because the online tools being developed are becoming as accurate as any lying b*stard valuer desperate to sign up his next instruction.
Plus any muppet can wield a camera and write a room description.
The writing is on the wall, you just haven't learned to read yet
Surely this can not be the same Russell Quirk that runs a high street office in Brentwood, Essex that states on its website 'Russell Quirk has been selling property in Essex for years. The Quirk family founded their first estate agency office in 1957 then expanding to numerous branch locations'.
So the High Street Office is outdated is it !!!!
Just looked at Emoovs stock list, its the same numbers as a week ago, 924, how many staff does it take to handle that many properties????? === NO PROFIT at all, I expect a loss, you had better remortgage Russ no one will invest. Maybe the OXO womans hubby may though, he just had a small pay off from another OEA estatesdirect.
I bet Russell was wetting himself at the prospect of talking to Countrywide, after 4 years he must be looking for an out. The thing is, If countrywide are talking to Emoov, who else are they talking to?
I’m sorry to say Russell but if they wanted to go down this route they could do it better than you, cheaper than you and probably without the blatant misinformation that you have relied on to build your business.
Best of luck with your quest for investment, it sounds like you’re going to need it.
You said
Then we GROW even bigger and make MORE money.
You mean you GROW bigger and OWM MORE MONEY to the portals!
Sit down Russell, don't rise to it. makes you look much dafter than you are
Jonnie
Hi again Paul
Thanks for another insightful comment on the exciting progress of online estate agency.
However, fearful as I am of upsetting your well worn mantra on the perils of our sector, it's a fact that our investment proposal has nothing to do with funding adwords or for paying towards any of our running costs. That's because we make profit.
I'll try to make it clearer.... Investment equals money to spend on ADDITIONAL marketing streams to provide MORE income and to assist with a bigger and better infrastructure. Then we GROW even bigger and make MORE money.
It's not a revolutionary concept really.
If you're interested in investing in us yourself, before you lose all your money on that out dated High Street thing you're still doing there, then just let me know and perhaps we can meet up to show you how the future looks? ;-)
This is funny, they obviously wanted nowt to do with them as emoov are after cash now, probably for adwords.