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One of the founders of self-employed brand The Agency UK (TAUK) has set out hopes for the business to dominate the market and become a top player within a decade.
Speaking on the latest episode of the Two Russells estate agency podcast, Steph Walker said she believes TAUK can dominate the self-employed market and beyond.
Self-employed hybrid brand TAUK was launched last September with the financial backing of Purplebricks' founder Kenny Bruce as well as former countrywide boss Harry Hill on the board.
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Walker last month outlined plans for a 30% upfront commission model on listing for agents but said there was a £3,600 monthly cap.
She added: “We have looked at the barriers to entry for agents.
“Salaries haven’t increased over past decade or so, what you have with brokerages is freedom and after a certain point is financial freedom and the ability to deliver a more consistent and a greater level of service to clients.
“Not everybody has access when we are still getting the wages we were getting years ago.”
She suggested the upfront commission model will open more conversations with agents as it enables more to make the jump, although she acknowledged it wont be for everyone.
Walker did predict though that this would be the “predominant space” over the next five to 10 years in terms of growth.
Asked by co-presenter Russell Quirk if Bruce’s involvement meant the brand was set for Purplebricks’ style growth and marketing spend, Walker said: “Our thought process over the next two to three years is to grow in a steady fashion.
"The advanced commission model opens up the floor to agents who haven’t been able to consider it yet….I would love to think we could be a player for the top one or two position in five to 10 years, it will be continuing the hard work we have done to date.”
Curious- what happens to the 30% upfront commission if the property doesn't sell or the agent loses the instruction? Does it have to be refunded, if so that's at least 20% of that income that will need to go back.
Another stupid idea that will end up with these so called 'agents' doing it for nothing just to survive, when will our industry learn to just do the job as its intended and charge a reasonable fee for all the hardwork we have to do and put up with..
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Curious- what happens to the 30% upfront commission if the property doesn't sell or the agent loses the instruction? Does it have to be refunded, if so that's at least 20% of that income that will need to go back.
Another stupid idea that will end up with these so called 'agents' doing it for nothing just to survive, when will our industry learn to just do the job as its intended and charge a reasonable fee for all the hardwork we have to do and put up with..
I think it is a good out-of-the-box idea which is what you need to be successful, good luck
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