eMoov, arguably Britain’s highest-profile online estate agency, says it is “inevitable” that it will enter the US sales market in the next two to three years.
The agency’s founder Russell Quirk says with several members of his existing UK team born or educated in the US, such a move was a natural progression.
In doing so, he appears to be adopting the same robust appraoch to the American property old school as he is to the British.
For in an interview with the online service of the US broadcaster CNBC, Quirk was sharply critical of the National Association of Realtors’ stout defence of bricks and mortar estate agency.
"I love the naivety of the people in the (US) sector, it's like a red rag to a bull" Quirk told CNBC.
Quirk has confirmed the likely development to Estate Agent Today saying: “Those that accept that the UK estate agency industry is expensive and consumer-unfriendly would do well to consider the situation in the US.
“Not only are fees [there] charged at around six per cent on average but the multi-listing service is designed purely to benefit the broker. In fact, as if having one expensive agent wasn’t bad enough, over there you get two - a listing broker and a buying agent.”
In the same CNBC interview, Rebecca Peach - chief executive and founder of the UK’s I Am the Agent online agency - claimed UK online agencies were growing 3.75 times quicker than traditional estate agents.
She predicted that online agencies would take 50 per cent of sales by 2020 - up from their current five per cent share.
Meanwhile eMoov’s latest crowdfunding pitch has raised around £800,000 of its target £1m, with 16 days remaining for investors.