Another Countrywide executive has left the company - the latest departure is Eyal Malinger, the director of corporate development.
Harvard-educated Malinger had an overview of the group’s activities in Build To Rent through its Vista UK Residential Real Estate Fund which was operated with Hermes Investment Management.
He was also Countrywide’s member of the board of PI Labs, the property technology ‘accelerator’ company which invests in proptech start-ups and which was founded by high-profile serial entrepreneur Faisal Butt.
“He’s moving on for the next stage of his career. We’re wishing him well and are 100 per cent keeping in touch” says a spokeswoman for the group. Malinger is returning to a former venture capital employer.
Estate Agent Today understands his departure was announced within Countrywide on Monday - the day the group announced to the public its hybrid estate agency service, being piloted by three of its brands.
The service allows sellers to use a Countrywide online-only service, or a traditional branch office service, or a mix of the two.
City investment consultancy Jefferies - which has in the past worked with portal Zoopla, in which Countrywide has a stake - praises the Countrywide initiative for being research-led (following consultations with thousands of customers and industry figures) rather than a knee-jerk response to recent online estate agency developments.
However, Jefferies says this is a ‘channel change’ rather than a ‘sea change’ in estate agency - noting that Countrywide’s offer emphasises the importance of local expertise in its offices, in much the same way that current online/hybrid estate agency market leader Purplebricks emphasises the importance of its ‘local property experts’.