A so-called ‘brand incubator’ has invested in online estate agency Settled.
Settled launched in January 2015 but has had negligible impact even in the world of online agents.
A recent survey by comparison website GetAgent claimed that as of the first half of November settled had fewer than 35 active listings of homes for sale, and it registered only 0.0 per cent on the total share of the entire sales market.
However, ‘brand incubator’ service Garage Soho says it is now working to build the Settled branch ahead of “an official consumer launch in January 2016.”
Settled recently completed its second round of seed funding led by Garage Soho, the company which was founded by advertising creative Sir John Hegarty, previously a co-founder of the more famous Bartle Bogle Hegarty creative agency.
Settled is the brainchild of brother and sister Paul and Gemma Young - the latter a former employee of Google.
“There have been several online agencies in the real estate space which have emerged over the past 18 months offering consumers cost savings but still the need to rely on a middleman. We feel technology has a much larger role to play in innovation than we’ve seen so far. With Settled we’re passionate about building the tools that will empower sellers and buyers giving them more confidence and making buying and selling much more enjoyable with a vastly reduced price tag” says Gemma Young.
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When will the penny drop.
Estate Agency is a people business and internet marketing is only a part of it!
A skilled professional more than cover their fee and will know what price is achievable.
Last week we sold a property, recently on with an online agent, and we achieve £17,000 more than the online agent was telling the client to accept. Yes we made £4,000 fee but the client 'saved'/'made' £13,000 selling with a traditional agent.
What on earth is a brand incubator? Anyone???
@David OConnor - yes, that might be the case. But maybe some people want a choice. Some agents do charge high fees for poor service. At least with an online agent, you wouldn't be left so out of pocket if things went wrong.
Not all traditional agencies are brilliant, value-for-money geniuses. Just like not all online agents are cheap and cheerful charlatans. Shock horror, many online agents are run by ex estate agents who have become disillusioned with the traditional model.
There is space for both in the market, when will traditional agents understand that? Ultimately, the public will decide.
I'm a big advocate of the hybrid model, which more and more agents are embracing. Taking the best of the online and traditional models and fusing them together.
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