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Andy Peters

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I found this on another forum.. Respect to the author, I'm not claiming this as my own.. but I agree entirely.. I’ve been reading old EP press releases.. like the one stating he had 12,000 pre-listed properties..(no he didn’t)… like the one saying he would be letting 4000 properties a month by the end of last year..(nowhere near).. the one about the Spurs sponsorship and of course the move into Europe.. they also haven’t happened..! And whichever way EP dress up their sales figures, its not a pretty picture at EPHQ. They need cash simply to keep going – as operating capital – there won’t be much left to invest on expansion… EasyProperty need to decide what they are.. a lettings/sales/auction site – and then concentrate on doing it well rather than dabbling.. they talk the talk.. and Ellice doesn’t miss a chance to be an industry spokesman but what they really need are some regular and meaningful sales figures..! And don’t forget, Ellice was talking originally about a pre-IPO and subsequent flotation and that was supposed to be happening about now.. and instead we have a watered down fundraising exercise to claw in a few million to spend on operating costs.. So why not the IPO? Because a company seeking to float needs the support of a bank/financial house to create the flotation prospectus.. and the company comes under close financial scrutiny… and frankly, EPs dismal sales figures WILL NOT BEAR CLOSE SCRUTINY. So, another of Ellice’s promises have blown with the wind.. and a simpler fundraising round like before will negate the need to fully disclose the company’s actual financial position, leaving unsuspecting punters with promises of gold but give them buckets of ****. Ellice’s best mate and co-director in several ‘enterprises’ together is Kingsley Wilson of Crystal Capital.. who better to disguise a struggling business and put together an attractive proposal for unsuspecting punters.

From: Andy Peters 30 November 2015 12:04 PM

Ellice lacked the charisma to carry off the funeral stunt... sat nervously on top of a carriage with fingers tapping the seat between his legs furiously, he should have been carrying the largest of all the banners and shouting at the top of his voice.. but his body language told everyone that he wanted the ground to open up and swallow him... like a little boy at a Christmas nativity, playing the part of Joseph who'd just forgotten his lines and wants his mummy to rescue him off the stage. Sitting there all self consciously, if I didn't know what the man is really like, I would have felt sorry for him. Unfortunately though, once you get to know Ellice you realise he doesn't listen to advice, blames everyone around him when things go wrong and takes absolute credit when things go right. Where is the Spurs deal Ellice? Where is the IPO promised this year Ellice? Where is the move into Europe this year (that you bought all those licenses for)... and why do you keep re-posting half your property inventory on RM everyday even though your gross and net 'lets available' total doesn't vary by more than four or five properties... all about impressions isn't it Ellice.. not actuals! Easyproperty will probably succeed long-term but it will be no thanks to Ellice, who will certainly be replaced as CEO if and when the company actually does something it says it will do and floats.

From: Andy Peters 02 October 2015 21:22 PM

"I also bumped into Rob Ellice from easyProperty at the event. It was nice, as always, to catch up with a key figure in the property industry." Do you really mean this or have I missed the cynicism?

From: Andy Peters 14 September 2015 11:53 AM

Well...they've got to do something..! According to my research their first year has been a tragedy! Having collated numbers on a daily basis, cross checked against new instructions, given then an 'optimistic' 75% conversion rate and valued their sales at £300 per let (just to be totally wild), they have still not even managed to cover their own wages bill, let alone make a dent in the target they set themselves. I'm guessing the multi million £ deal with Spurs is off... I'm guessing a pre IPO and IPO is off ...and I'm just waiting for the internal fireworks to start. Why oh why Guy Zitter still has his name attached to this debacle amazes me..

From: Andy Peters 30 August 2015 10:36 AM

This is interesting.. Easyproperty raised £1.4m for just 2.1?% of the business yet Estate Direct appear to provide a better service. Funny how a brand like Easy can tempt money from investors.. Key issue for easyproperty is they haven't thought through the dynamics of their operation very well... after all, its all very well being online and charging nominal rates but they don't offer valuations, leaving landlords (and I presume vendors when their sales come online), to decide the rental or sales value themselves - unless vendors ask high street agent around first for valuations?... though that would defeat the object wouldn't it??? Also, I have a property in north Wales.. If I take up EPs offer of accompanied viewings, where is their agent going to come from?... their office in Canary Wharf? Ummm...Duhh..

From: Andy Peters 19 June 2015 12:26 PM

I'm a bit bemused about the whole Easyproperty 'thing'. Apologies if this sounds cruel but unless I'm very much mistaken, Robert Ellice is no big time CEO with years of corporate experience to fall back on.. Clarke Hillyer was just a couple of of branch offices??? ..and he runs a number of equally small-time 'Arthur Daley' businesses. Seems he got a slice of silver spoon (parental money) and an 'in' to the family business, Ellice Investments! Again with family help he got an 'in' to Clarke Hillyer, a small comm and res letting agency that had a couple of branches (which have now closed). Seems the company now exists from a small industrial office unit these days (The lock-up, as Arthur would have called it!!!). Check out Kingsley Wilson. He crops up as fellow director in a number of Ellice's enterprises and Wilson is also the man fronting the pitch for the crowd funding from his company Chrystal Capital. In fact, apart from buying the license from Easy, the whole easy property 'thing' is 'my dad knows your dad'.. Chris Welch has resigned from two of the (three) easy property companies and one wonders if hes still around, Harry Hill resigned early on (after the valuation of £66m). Stelios has no interest in EP apart from charging his fee for the use of his brand and a regular check on RM and Z shows EP has just 500 listed properties.. nowhere near the 1000s that were predicted, leaving their sales/turnover targets (as available to view as PDF on cube crowd), impossible to reach. Unless some fantastic business is going on which they're keeping secret, their targets of £20m+ and £37m+ turnover in a couple of years is just pie in the sky. Also, it looks like they're trying to bring forward the IPO... is that in order to strike at investors before the actual truth (sales figures) are out. Surely any business is ultimately only as good as the business it bring in? or can we all go up the route of continual fund-raising without providing a return to investors? Easyproperty - so far - equals a big fat "?" I wonder if Ellice (and Kingsley) will be sipping champers on their yacht somewhere off the Caribbean coastline long before the market - and the investors - realise they've been scammed??? Whole thing stinks of 'lets raise money and run'.

From: Andy Peters 19 June 2015 12:10 PM

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