An online estate agency which says it could be the next Purplebricks says prejudice against internet property transactions is waning
“With Neil Woodford listing Purplebricks on the AIM market, Connells acquiring Hatched.co.uk, Savills investing in Yopa.co.uk, and Charles Dunstone / Roger Taylor having just invested £13m in HouseSimple, the on-line sector clearly has further growth potential” claims Esale, a Yorkshire-based online agency.
Esale, which describes itself as “a profitable online estate agency covering England and Wales” starts its fees at £495. In a crowd-funding pitch the firm claims - without indicating a source - that online agents “have doubled their [market] share over the past two years to over five per cent” and says industry experts forecast the share to grow by 2022.
“Recent figures suggest that reluctance or prejudice is beginning to wane. Indeed, experts predict if the trend continues on its current course, 50 per cent of house sales will be completed online by 2020” says the agency’s pitch.
Esale started life as a complementary business to the existing traditional-style letting agency Elet, based in Harrogate.
“We’re confident we have a scalable business model which only requires investment to make it a reality. To make that happen, we need to enhance our profile, not just in Yorkshire but across the UK, and that means a comprehensive marketing strategy, embracing the traditional print and broadcast media as well as all the online channels and platforms” continues the pitch, which appears on Crowd For Angels.
This appears to be why the agency is seeking up to £90,000 crowdfunding although, with only a fortnight of its pitch left to run, it had as of last evening attracted less than £30,000.