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TODAY'S OTHER NEWS

Online agent says franchise fees up to £10,000 only deferred

An online estate agency which has described the Coronavirus pandemic as “a disrupter and game changer” for the agency industry says it's deferring its franchise fees - not waiving them completely.

Nu:move late last month issued a statement saying it was the number one online agent and pricing its franchise deals as being £10,000 for those wanting to operate under its brand in a radius of 100,000 properties, dropping to £7,000 for those wanting a radius of 50,000 properties, and £3,995 for 25,000 homes.

Now it says it's deferring those fees, with agents who join up having to pay the full cost incrementally from future business.

It says the new offer is designed to help agents who have lost their jobs or acquired a taste for working from home.

“This is an unprecedented time in our history. The pandemic is having an impact on the health of our loved ones, the businesses we rely upon, the health of the global economy, and the way we live our daily lives,” says Nu:move chairman TJ Singh.

“We fully understand that we cannot complete viewings and to put properties on the market is not top of the agenda. It is time for estate agents to get ready in the background; we need experienced estate and lettings agents to join our journey to redefine the property sector” he continues.

Nu:move says it already has 20 regional directors and describes many of them as “experienced industry players”.

The agency says it's dropping its monthly £215 service charge for IT and head office support for the first year. 

The company says its agents can keep 80 per cent of their commission from sales and lettings transactions.

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