An online agency which describes itself as being “the future of property” is up for sale.
Nu:move is a franchise operation, set up eight years ago by siblings Karen and Arun Batth. It was last year valued at £2m when it was listed on crowdfunding website Seedrs, on its way to securing some £750,000 to pay for the expansion of its franchise network.
The agency has 20 regional representatives and claims to have marketed around 10,000 properties since launch.
On its site it says: “Whether you choose our fixed low fee of £699 including VAT or the traditional 0.5% fee (where a minimum completion fee of £1195.00 Incl VAT applies) you can save £3500 - £5500 on average."
The firm is being sold as “a ready-made business with all cloud-based systems in place” to allow its owners to concentrate on other ventures.
In its most recent available accounts at Companies House, for the year ending December 31 2020, nu:move had total net assets worth £2.23m.
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Hmm, that went well then.
I’d rather invest in Friends reunited
The next online agency will be a descendant of PB, Boomin is gathering agents data in readiness.
Yes Booming will soon allow vendors to upload their own property and disperse with an agent
Yawn, yawn. Zzzzzzz
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