It’s an exciting time at eMoov.co.uk. Not just because of our fantastic investment deal with James Caan’s HBRE group but, frankly, also because of our organic growth which sprints on and on whilst the new partnership finds its feet and the many innovations and advances begin to take shape as a consequence of the deal.
So, February is a case in point. Whilst we await our game changing new website and a number of elements that will see us increase our market share still further, the month that has just closed was one of our best ever.
In fact February 2014 saw two records broken: Most listings in a single day; and most online generated revenue in a single day.
New buyers registering were up a colossal 119% on February 2013 at 3488. Viewings increased even more to 2810 (+130%) in this, the shortest month of the year.
And offers to purchase saw a colossal rise from 139 in January 2013 to 397 this time. At an increase of 185% year on year that’s positively meteoric!
Listings rose substantially as did ancillary services provided. Lettings continue to grow dramatically.
One particular stand out statistic is our ‘fall through’ rate. Typically around 30% across the UK estate agency industry as a whole, ours was just 7% in February.
Our mainstream competition are beginning to sit up and notice now. Many of our high st peers simply cast aspersions that ‘online estate agents are not proper estate agents, which as you can see from the foregoing performance, is a pretty laughable contention to try to advance.
But I’ve noticed that some traditional agents are now resorting to copying our model whilst still running their bricks and mortar businesses. A slight contradiction in approach there perhaps?
One thing is for sure, the eMoov.co.uk train is gathering pace and more and more happy home sellers are jumping on board.
With fee savings of 90% compared to traditional estate agents and far better customer service, together with an industry beating sales performance, no wonder.
Russell Quirk is Founder and CEO of eMoov.co.uk, the UK’s Largest Digital Estate Agent