Online estate agent on fire in cooling property market

Nov 24, 2014

Latest figures from Emoov, the UK’s biggest online estate agent, shows it is still leading the estate agency industry in terms of selling performance.

Emoov, the digital disruptor to the estate agency business model, is revolutionising the property market. Initially talked down by traditional estate agents who scoffed at the idea, the business is proving to be a resounding success.

Emoov’s latest sales data is evidence of how it is outperforming the average traditional estate agent. During the month of October 2014, Emoov bucked the industry trend and reported on a record month of sales, with property sold equating to a staggering £45 million. Looking at 2014 as a whole, they have already sold property worth £322 million and in early 2015 they will top the £1 billion milestone since launch. Emoov continues to secure 99% the asking price for its listed properties, 3% higher than the industry average (Hometrack September 96%).

Emoov has arranged over 25,000 property viewings on behalf of its customers so far in 2014, all of which have been successfully accompanied by the seller. It’s apparent the majority of sellers no longer value this service from traditional estate agents and it seems buyers think the same. In a recent survey by Emoov, conducted by independent insight agency Opinion Matters, 53% of buyers would prefer to have the seller show them the property. Emoov, like other online agents, empowers sellers to use their local knowledge which is the key factor in the property buying process.

Property Expert Russell Quirk, Founder & CEO of commented

“We are ecstatic with the company’s performance to date and being at the top of the industry is testament to the hard work of the Emoov team. In the early days there was a lot of talk from traditional estate agents about how selling houses online wouldn’t work and in 2010 they claimed I was mad to sell my estate agency business. Funnily enough, I haven’t heard from many of those people recently, probably because they can now see the performance and momentum of my business.

With online agents such as Emoov launching TV campaigns, securing consumer media coverage, attracting high-profile investors and even becoming the focus of a Channel 4 television show, online estate agency is currently in the national spot light. If you add in the fact that the vast majority of buyers now only visit Rightmove and Zoopla, consumers are fast realising they don’t have to pay extortionate estate agent fees to sell their home.“

Emoov continued to build on the success of Octobers sales performance and in November were awarded the title of Best Customer Service at the 2014 AllAgents awards.