The man behind YOPA - the online agency that last year secured investment from high end traditional company Savills - says he expects his operation to achieve a turnover of between £4m and £8m in 2017.
Daniel Attia, interviewed in Management Today, goes on to say: “At the moment, online is about five to six per cent of the [sales] market. We want to see that grow to at least 25 to 30 per cent over the next three to four years. We’re investing in growth.’
He also says his firm has little difficulty recruiting agents, who complement the online element by having local representatives who visit the properties of clients.
“The earning potential of our agents is actually higher than on the high street. Recruitment isn’t that difficult if I’m being honest. A lot of agents are reaching out to us. They see this as the future of estate agency” says Attia.
The article does not reveal the scale of funding secured from Savills, but Attia says his operation - co-founded with David Jacobs and Andrew and Alistair Barclay - is learning a lot from the collaboration.
“People will adamantly defend their business model and not look at competitors’ business models with an open mind – it’s this whole thing of hate your competitors. That’s the culture we started with, and we changed that. We’re really impressed and can learn a lot from people in our space doing good things. It’s very toxic for a company to be insular” Attia concludes.