A hybrid estate agency is looking to attract mortgage advisory companies in a bid to build an agent/broker network.
Right Estate Agents, started by a former Countrywide agent Alison Bannon in 2010, is a hybrid agency where franchisees work from home in particular regions.
It is now looking to build the brand with mortgage brokers.
The firm has embarked on an email marketing campaign to brokers using details obtained through social media.
Right Estate Agents provides training and the sales progression, with properties marketed on Rightmove and Zoopla, but mortgage brokers would need someone to interact with the customer to get the property valued and on the market.
Mortgage brokers must have at least two years’ experience and can charge a fixed fee or commission, at a minimum of £995, to vendors with the income split 50/50 with the Right Estate Agents head office.
Brokers are being invited to “discovery days” over the next few months in Solihull.
Anyone who signs up will have to pay a one-off upfront fee and Bannon said contracts are renewed annually, with brokers encouraged to generate business from their existing database to offer their clients’ services.
Brokers will have to join the Property Ombudsman and arrange their own PI cover.
So far the business has five agent brokers and 12 franchisees but her aim is to get up to 60 joiners this year.
Asked about the strength of the franchisee model given the recent events surrounding EweMove, she said she was not worried.
She added: “When you become a managing director you don’t want someone else telling you what to do.
“Our aim is to provide high standards and give customers the support they need.
“It is important to have estate agents that are not only available and caring but trained so they can advise the next steps. We have never had any complaints.
“That is where self-service estate agents go wrong. Clients cannot manage the whole chain themselves so proper agents just end up picking up the work.”