Martin & Co is reported to have acquired EweMove, an estate agency which describes itself as the first ‘hybrid’ service - a Purplebricks-style mix of online marketing and local experts on the ground.
Martin & Co told the City this morning it was buying EweMove for £15m; £8m has been paid up front with £7m linked – unusually – to the group’s performance.
EweMove had been extensively publicising its efforts in recent months, saying most recently that its completions in July and August soared by 56 per cent over the same period last year.
EweMove’s distinctive branding, including the description of co-founder Glenn Ackroyd’s job description as ‘head shepherd’, will remain.
Its 90-plus franchisees will remain branded at EweMove and will continue to work from a mix of offices and homes. These include franchisees who launched this year at Barnstaple in Devon, Reading in Berkshire, Streatham in London and Aberdeen in Scotland.
EweMove was founded in 2014 by Glenn Ackroyd and David Laycock; based on a hybrid franchise model involving over 170 locally-based property agents, EweMove has a national operations centre to support franchisees and promotes a ‘no sale, no fee and no tie-ins’ commitment it calls a ‘Happy Sale Guarantee’.