More than 270 easyProperty licences have been secured by independent estate agents belonging to The Guild of Property Professionals and Fine & Country as of yesterday.
It means that just over a quarter of the total number of offices have taken up the opportunity, with 800 offices represented in the Guild and 200 in Fine & Country’s UK network.
Each licence will cost £500 per branch per month, with each territory consisting of some 20,000 properties. There is a 12-month notice period for any branch deciding not to renew.
Following the announcement of easyProperty’s acquisition by GPEA, the parent company of The Guild and Fine & Country, an 11-date nationwide roadshow was held throughout June, detailing the licensing proposition.
Hundreds of GPEA members joined the roadshows with 70% of those who attended returning a Letter of Intent and securing an easyProperty licence.
Jon Cooke, easyProperty’s CEO, said: “The response we’ve received has been overwhelming and we are really excited to have such a significant number of professional, independent agents on this journey with us.
“Currently, we are exclusively offering GPEA members the opportunity to paint the country orange and the future looks bright with so much of the UK covered.
“We aim to disrupt the disruptors by catering to changing consumer behaviours, and what our research tells us is that vendors and landlords want the reassurance of a physical, professional agent coming to their property to provide a market appraisal but they also want to transact 24/7 online rather than within office hours.
“Many also want to have more control of the lettings and sales process, and our model caters to this demand.
“We intend to relaunch easyProperty as a B2B2C operator in early September and we are on track to meet this deadline.
“Between now and then, we have in the works a new marketing and advertising campaign, new website and new operational procedures.
“We are travelling at a fast pace and are proud of the members who have put their faith in our new licence proposition.”
easyProperty licensees will provide landlords and vendors with initial market appraisals, photography, floorplans, property descriptions and, in some cases, viewings, while the easyProperty platform and contact centre will service the rest of what is being called the customer journey.
GPEA’s acquisition of easyProperty, which completed on July 12, was made possible with financial backing from Toscafund Asset Management LLP, who were backers of easyProperty when it was led by founder Robert Ellice.
The Toscafund backing provided to GPEA to buy the easyProperty business is also substantial enough to fund the marketing required to promote the brand and penetrate the market.
easyProperty will be relaunched as a leads-generation business to business offering, with a flotation to be explored in January.