Two former High Street agents say their new hybrid agency has enjoyed an impressive launch gathering 40 instructions in just four months.
This is despite operating in the high-value markets of central London dominated by traditional operators with offices in prominent locations.
Agent & Homes launched in June of this year and operates across Prime Central London and West London - in its words, it “aims to fill a gap in the market between costlier high street operations and low fee online agents.”
The agency is the creation of Rollo Miles and Bob Crowley, each with long-standing experience as traditional agents; a team of 10 agents work under the firm’s brand name.
Miles (right) is a former manager at Marsh & Parsons and Countrywide’s high-end John D Wood brand; meanwhile Crowley has also managed at Marsh & Parsons and John D Wood as well as at innovative PropTech firm Nested.
Agent & Homes charges a percentage commission fee and says in four months it has taken on over 40 sales and over 200 lettings instructions and believes it’s competing well against long-established firms.
The agency - based in Notting Hill with a ‘hub’ but without a traditional shop-front - has agents working across different postcodes in the capital; the business model is similar in principle to that operated by Keller Williams and Harding Green.
In Agent & Homes’ case, its agents receive 90 per cent of commission fees with the remaining 10 per cent going back to the company to be invested in support services. Agents can base themselves at the hub or work from their homes.
"Like most agents who have worked on the high street in the past, we're of the opinion that a high street presence and shop front is no longer needed for a modern agency to be successful" explains Crowley (left).
"This allows us to invest more money into marketing and supporting our agents … It also means we can save our clients money as we do not have to charge the high fees that high street operators do."
Crowley adds: "All of our agents self-manage. This means no micro-management, no repetitive call out sessions, no ‘OTE’ smoke and mirrors, no more sitting in a dead high street office until 8pm, and no more endlessly filling out reports and spreadsheets for head office.”
Agent & Homes offers a full sales and lettings service, including managing short-term lets and holiday lets on behalf of clients. In addition, the agency also offers search and acquisition services as well as commercial sales and lettings.
You can see the firm’s website here.