A national newspaper has lifted the lid on what it alleges to be the backgrounds of high-end self-employed agents who feature in the Channel 4 show Mega Mansion Hunters.
The Tyron Ash agency, registered in London’s Berkeley Square, describes itself as “one of the key players in the British luxury property market” and its website claims that self-employed agents operating under its banner have the “opportunity to earn in excess pdf £250,000 per year” after receiving “full in-house training, mentoring and coaching.”
Ash himself has reportedly been rejected by agencies to which he has applied - the TV programme suggests this includes Savills, Goldschmidt & Howland, Chestertons and Foxtons – but he uses the show to demonstrate that his company has sold some £300m of prime property without actually having a branch.
Bricks and mortar offices are for “dinosaurs who just wait for instructions to roll in” he says, while his self-employed colleagues use US-style tactics, including cold-calling other agents’ listings in a bid to win instructions.
Agents get half of the typical 1.25 per cent commission when securing the listing, and the other half if they introduce a buyer who goes on to complete.
However, the Daily Mail says Channel 4 has received complaints about some individuals on the show, and it reportedly under pressure to reveal its due diligence process used to select the agents featured.
The Mail alleges the business itself has net corporate assets of only £444 according to records at Companies House. And it alleges that Ash himself has a previous conviction for cocaine possession with intent to supply.
And one of the other 65 agents operating under its banner, last year had seven of his companies shut down by the High Court, with the Insolvency Service describing his behaviour as “highly misleading.”
Another allegedly had a drink driving conviction, while yet another was charged with organising an illegal rave involving damage to a church.
You can see the Mail story here and via the Channel 4 Hub can see the programmes themselves here.
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The Times covered 90% of all of this weeks ago, must be a slow news day for the Mail and other publications.
Not surprisingly really if, as they say, the lister receives 50% of the typical 1.25% and the agent that introduces the buyer receives the other 50%. That leaves, errrr, 0% for the business🤣🤣🤣🤣
Find the character assassination of members of this agency fascinating. 'Alleged' drink driving (there are many in this industry, including myself, who carry this back mark), an illegal rave.......so they know how to throw an epic party, former dealer (so no one is allowed to reform and move on)- the only one that concerns me is the '7 companies shutdown'- but, as long as they aren't running the business, then this should not matter. However, we are not talking about Doreen down the street investing her life savings and pension- we are talking about the super prime market where buyers and sellers alike have the means to have advisors around them ensuring nothing untoward happens- and taking action if it does. Again, I am no fan of the style of agency- but it clearly resonates with some. As AR highlights above- not sure how a business runs on 0% but maybe that's just sloppy reporting by DM which. of course, would be unheard of!
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