eMoov.co.uk have enjoyed two years of success as online estate agents. We are now the fastest growing low cost estate agent in the UK with 1000 properties in our inventory. Our performance is further vindicated by news from the Royal Institution of Chartered Surveyors that our ratio of sold properties versus those for sale is significantly greater than their own High Street member firms typically.
With total fee savings of over £2 million to date, eMoov are featured regularly in national newspapers and journals with the focus being the selling fee discounts that we ensure. Indeed our record saving to date is £76,000 relating to a high end Belsize Park house that we sold in June.
We have doubled in size twice in the last 12 months and against a backdrop of some 2000 estate agency branch office closures of late. Even other online estate agents seem to be struggling in this ultra challenging market.
So, where next?
Increasingly, existing customers and new enquirers ask us whether we deal with residential lettings. Until now, our policy has been to concentrate on sales. This focus has allowed us to be as good as we are, by concentrating on one discipline.
But given the strength of our brand in online property and, due to that popular demand, we have taken the decision to embark upon online lettings.
Soon, we will launch eMoov lettings providing the same low, low fees to residential property rentals as we are famous for in sales.
As rental costs rise, so do the commissions of ‘bricks and mortar’ lettings agents. On average, a High St agent will charge landlords 8% to 10% of the annual rental value equating to around £960.00 plus vat just to introduce a tenant to them. It’s far, far higher in London.
The eMoov fee, unsurprisingly, will be a fraction of that. Naturally.