Branching out! Propertynest launches new agency franc...

Estate agency franchise network Propertynest is looking to expand its reach as it looks to become a 100 franchisee-plus network over the long-term.

The Leeds-headquartered brand, which currently has two franchisees, is inviting applications for agents to cover new territories across England.

It already has branches in Godalming and Elmbridge.

Agents are given full training, access to support plus bespoke tech systems.

Vincent Anthony, founder and Managing director of Propertynest, said: “The proven marketing, lead generation and operating system we have developed, which includes both bespoke and market leading software applications are fully integrated, providing an ultra-efficient back office and marketing platform.

“This means our agents can grow their businesses more easily, be fully supported, and can spend more quality time with their clients on an individual basis, with continued focus on building long term relationships and local presence.

“We wish to focus on quality over quantity, however, we have made a big investment into laying the foundations for ambitious growth and the ability to scale in such a way which doesn’t compromise on our ability to support agents, roll out new systems, and our ability to adjust to future market dynamics.

“Ultimately our goal is to become in time a 100 plus agency network.”

Propertynest’s Elmbridge franchisee Doug Parks set up his franchised agency in Surrey in the summer of 2020.

He said: “Starting out on my own during COVID presented a few challenges.

“However, two years on and I’ve had a super successful summer.

“I was able to invoice £54,575 net commissions in August alone.

“I’ve been impressed with the tech, training and back-up that Propertynest provides, and it has really helped me move ahead to create my own successful business.”

The joining fee or franchise fee is £1,250 which includes the first month’s monthly license fee.

There is then an operating fee of £1,250 per calendar month.

Agents must also pay an advertising fee of 1.5 % of gross revenue, a royalty fee of 10% plus gross revenue subject to a minimum fee of £250 on individual property sale transactions.

For property lettings transactions, agents must pay 10% of gross revenue on each new tenancy set up, the minimum fee is £250.

VAT must also be paid on the above fees.