The top secret estate agency initiative code-named ‘Project UHA’ has now gained traction in over 10% of the UK, it is claiming.
Within two months of launch, the project – which will allow agents access to an online offering – says it has won commitments from over 300 agents.
Each will operate a UHA licence exclusively in a postcode.
Last month, EYE revealed that a ‘secret’ breakfast meeting was being held in London to introduce agents to the concept. Attendees were asked to say nothing and non-disclosure agreements were signed.
It subsequently emerged that this was the third such event. Two more meetings, in Bristol and Oxford, are to be held shortly.
Project UHA is the working title of what is intended to be an agent-owned network operating a national brand throughout England and Wales in the first place, followed by Scotland.
Each agent will be a shareholder in the new company, although it is far from clear how this mutuality will work.
UHA, founded by industry consultants Mal McCallion and Iain White, is intended to hand traditional agents the tools they need to complete with online and hybrid rivals.
It will be backed by what the pair say will be an eight-figure marketing campaign, intended to generate leads for high street agents that might otherwise not be invited out to valuation.
McCallion told EYE that the service will be unique: “It will be the agents themselves who go out to value properties, and who will be able to give vendors an informed choice.
“On our website vendors will be able to see a screen which gives a side-by-side illustration of what the DIY option involves, and what a full-service agent does.
“It will enable sellers to compare the pros and cons of each.”
If the vendor chooses to go the DIY fixed-fee route, they will be able to upgrade to a traditional service subsequently, without being out of pocket.
Unknown are the brand, the date of launch and the source of funding.
McCallion said: “The brand name of the DIY service will be a national one, and will be competitive in its charges. The name is not yet decided, but it will reflect quality.”
He went on: “Estate agency is evolving and some vendors are attracted by a fixed fee – not even inviting traditional agents out to the market appraisal.
“The industry needs a rational and organised response – something we are quietly determined to facilitate.
“UHA will, uniquely, put self-serve and full-serve products alongside each other for homesellers to compare the pros and cons of each.
“No one has, to this point, created a sustained – and sustainable – national advertising campaign explaining what full service estate agency is and why it can represent exceptional value.
“It’s time to help vendors make an informed decision – whilst ensuring that our agent partners benefit whichever choice is made.”
McCallion said that as well as a marketing campaign, the business will invest in some key hires, and is currently looking for head office premises.
He would not be drawn on the date of the launch, only saying: “It is getting closer.”
Agents interested in knowing more about the project can email: uha@growtion.co
How about a head office actually outside London somewhere in the middle of the country….that makes it easier for many Agents to reach?
I am really interested in anything that helps extol the virtues of Full Service Agency, and have lots of ideas to help.
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Because most of these ideas are supported by chums in hedge funds and waiting to be sold on for profit. #onthemarket
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A secret idea?
Robert May has the answer and he is not asking to keep it a secret. Any agent that wants to save the industry and earn more money should have a word with him.
Seriously impressive.
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What is Robert’s answer? I’ve not seen anything mentioned on that front?
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Find him on Twitter. Sure Russell one of his team can call you and take you through it.
Basically taking away the control of portals and giving the public a better user experience.
The above does not really do it justice.
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Will do but why no announcement on PIE?
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Not my place to say. But he has made massive strides behind the scenes and not really need to at this stage.
I think he maybe keeping his powder dry.
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Shaun77
EYE actually did a cover story in the early days of development here:
propertyindustryeye.com/prototype-property-sortal-launches-could-this-be-the-future/
But I think it’s fair to say that “things have moved on since then”.
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Great – thanks. I’ll take a look.
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I really don’t get why so many agents are falling over themselves to find a way to “compete” with the online ‘threat” when, despite the gazillions blown on advertising and PR, the proposition still only appeals to around 5% of consumers.
Going forward, as it dawns on the public that it just doesn’t work and more negative coverage appears in the press highlighting the horror stories, that 5% will start to fall. In fact, so far this year in my territories PB have taken on very little.
Against these facts, can somebody explain why the industry is so hell bent on stripping off and joining the Emperor’s suicidal parade?
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maybe it’s a businsss decision pal. If you had an opportunity to invest in something that you thought would make you money, would you?
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if you want some other ideas to invest in contact us at in@agentv.co.uk
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Give it a break mate.
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Sorry but I won’t ‘give it a break’ just because you are not interested in supporting the cause of independent agents.
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The problem has been education – consumers have not had the models placed side-by-side, pros and cons of each laid out clearly and been given the opportunity to decide for themselves. We think that, once a national campaign lays out what you actually get for each, most will instruct our network agent on a commission. But, even if they do not, there’s a clear upgrade path across to full service that is not available anywhere else.
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Wasn’t this the Bairstow Eves model which failed? Once a vendor thinks the agent has failed them, even if it is with their “Agency Lite” option, the bridge is burned and they simply go elsewhere as opposed to venture along the “upgrade path”.
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If the numbers are correct this is pretty impressive and will leave certain people currently present in the market sweating buckets. Time will tell.
I’m always amused by how the comments to any initiative announced on PIE are mainly populated by people touting their own ‘no name’ alternative to what ever has been proposed. This industry if full of people who talk big game but operate small time. Everyone believes they can be the next Rightmove with a £50k budget…..Leave it to the big boys.
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But if you are an agent you really should contact Robert May about what he is offering…..it will give you a real advantage!!!
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Thanks chap – That’s the beauty of a network. The scale of the project comes from everyone working together to take on the big players, and still continuing to run great local businesses.
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this is exactly what I have been banging on about with Collective Marketing for months now!
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What’s the difference between this and what Countrywide started doing and then put a halt to?
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Absolutely nothing.
I can water down my service, charge a few quid up front and pretend that’s all you need to do to get a property sold these days anytime I like and don’t have to pay Mr McCallion to do it.
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A key one is the national brand – CW actually had a huge opportunity to leverage its national coverage with “Countrywide Direct” or somesuch that might have gone toe-to-toe with Purplebricks but decided to go with its weaker regional brands. That cannibalised its full-service offering.
We’re keeping this distinct from our member brands – a strong paywall that says “If you want full service it’s this price, if you want self seridce it’s that – but you can’t have full service at self service prices”
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I think we can all agree that CW got it wrong, but I disgree, the one thing they DID have going for them was a recognised brand and it still failed. Branding was not CW’s problem.
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The eight figure marketing campaign!
Whats the difference between your favourite Call Centre Listers and #nevergettinganywhere ?
MONEY and lots of it!!!
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One single brand, substantial marketing budget as I understand it and also the people driving it are agents not ‘retail experts’.
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DayBook93,
Do you know what happended with CWD’s plan?
I know the original criticism was that you’d be competing with your self but CWD ran a pilot scheme and they said net income had increased. Then they expanded nationwide and it’s been put on hold.
I must admit I quite liked the business idea that you could move people up to the full service if they found the DIY service not to their liking but somebody posted, who I think was a CWD employee, and said this wasn’t happening in practice and those that opted for the DIY service were getting angry if they didn’t sell and left for another Agent.
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Agree that the model was OK – I think it was the lack of national (and separate) brand that failed.
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A lack of a nationally identifiable brand would be a negative but whether it’s enough to make enough difference is open to question.
The only barrier to entry to compete with PurpleBricks is money but you need a lot of it for years on end before you can break even. PurpleBricks have a headstart so you’ll have to spend more than them to catch up and then you are at the point where you will have taken market share from PB but are having to share the gains in market share from traditional agents. A very expensive game. A figure plucked from thin air but probably £100 million needed at least before moving into profit.
Is there a cost to agents? Do they have to buy shares? If not then it’s probably worth doing.
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those that opted for the DIY service were getting angry if they didn’t sell and left for another Agent.
But the whole point is if you want to DIY you have to sell it yourself don’t you……you get the advert on the portals and the rest is up to you!!!
Your favourite Call Centre Lister originally designed a website that was mean’t to be ‘For Sale By Owner’. If I remember rightly they changed their minds to including localish listers quite late on, when they realised they might be stopped from using Rightmove.
However at its heart it is still an FSBO system with the rest tagged on to placate the portals!!!
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>But the whole point is if you want to DIY you have to sell it yourself don’t you
Yes but a lot of people are irrational. They take the risk in order to save money and then complain when they don’t.
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Yes but a lot of people are irrational. They take the risk in order to save money and then complain when they don’t.
Your right!!! (there, I said it, but once only, alright!)
Which is why any business that p%%ses off half its clients normally has a limited lifespan!
BSOS23PC
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AgentV,
Not going to get into a long discussion on this but I’ve got half an hour and I thought I’d summarise some of my own finding in regard to PurpleBricks.
I have studied samples of listings between January 2016 and October 2016. This is a total of about 240 properties. If I Iook back at my first sample of 24 properties listed on 30/3/16, when I first reviewed them on 3/4/17, shortly after being told that PB’s conversion rate was 14%, I found that 16 of the 24 had completed and the pictures that Rightmove were displaying on their land registry data page were the same ones that PurpleBricks listed in their adverts.
On 3rd February 2018 I took another look at this sample and 21 of the 24 are sold and I’m pretty sure that at least 20 of them were sold by PB because the pictures match whereas one of them has a different set of pictures and PurpleBricks don’t claim that one as sold or sold STC.
One of the 3 that I can’t confirm as sold is claimed as “sold by us” by PurpleBricks but I’m unable to match it to the land registry because I don’t know the flat number, However 2 flats in that building have sold but Rightmove provide no images so i can’t see if it’s the same flat.
Another of the 3 unsold is still on the market with two agents which aren’t PurpleBricks. The original listing price by PB was £77K and it’s now listed at £60K after being £70K for a while with one of those two agents.
The third unsold property is not on the market at this time.
So I think the idea that 50% of PurpleBricks’ customers are unhappy is not one I can agree with. And even if they were it’s a bit more complicated than that as to whether it’s a flawed model and improvements can be made or the model changed altogether.
So the figures being produced by Jefferies need to be verified by an independent third party. The only people who haven’t sold with PurpleBricks are the ones who have sold with another agent or have been withdrawn from the market permanently and we are not provided with these numbers. Nor does the system being used know how many properties have completed but are not registered at the Land Registry yet.
In short I think the Jefferies article is little more than spin of data presented in a certain way,
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“I found that 16 of the 24 had completed and the pictures that Rightmove were displaying on their land registry data page were the same ones that PurpleBricks listed in their adverts.”
The inferred point being what, exactly, ducky…?
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PeeBee,
My conclusion is, that based on my own research, I am happy for my own purposes to disregard the Jefferies document but everybody should do their own research.
One of the problems I have with the Jefferies Report is that it is not independently verified and they previously claimed a 14% conversion rate. Now it’s 50%.
If you read this http://www.mikedp.com/articles/2017/8/21/transparency-and-bias-in-the-face-of-disruption you will see that they are a broker to Countrywide and that “Jefferies issued twenty separate “buy” recommendations for its corporate clients, spanning over 2,000 days, while issuing none for their direct competitors.”. and “During this 15-month period, Jefferies made or reiterated a buy position on Countrywide on five separate occasions.”. This is when the share price was on the way down from roughly £5.50 towards £3.50. The current price is 81p
I mention some other problems I have with the report above. Namely that it doesn’t provide data on those properties that are SSTC or have completed but the sale hasn’t been registered yet. Or those that are temporarily off the market. Trying to coin the phrase about the toss of a coin is cheap and not something you would normally expect from a City Analyst. Even if the conversion rate was 50% it doesn’t come down to luck and an important factor for consumers is of course the cost saving which wasn’t mentioned either unless it was after I stopped reading.
Another issue I have comes from my own problem of matching Land Registry data with listing data for flats. When a property is listed it doesn’t typically provide a flat number or full postal code. Finding out if flats have sold is a particular problem and finding the full postcode for houses isn’t straightforward either.
I know that Estate Agents can access more information but Jefferies aren’t an Estate Agent and Jefferies say they tracked all listings over a full year so we are talking about a huge amount of data which needs to be accessed by an Estate Agent so I must admit I’m suspicious about the accuracy of the information being provided.
Time to wrap it up for the day. That’s my opinion on the matter.
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I have one thing to say in response to your numerous words.
If they are as good as you say they are and the report is wrong then they can just come out and say it and guarantee it’s true….. can’t they!!!!!
They can just say ‘of the properties we list for sale we go on to complete the sales through us on xx%’.
So why don’t they just do that? If for no other reason they surely would want to do it to support the share price, wouldn’t they?
Until they do do it, I will carry on believing the reports that I read, that appear to go into far more depth than your little exercise.
BSOS23PC
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“Each agent will be a shareholder in the new company, although it is far from clear how this mutuality will work.”
Sounds somehow… familiar.
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As familiar as your tedious and predictable cynicism PeeBee? Or do you just have a vested interest to protect…I wonder.
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“Vested interest”, ‘Getinlinechaps63’? Me?
My – that’s a tad cynical, isn’t it. Classic kettle and pot.
But – in response:
Yes. Absolutely. You’ve got me bang to rights – a fair cop. 100% guilty as charged.
I would have thought that we call have.
It’s called “the property industry”.
I’m watching it slowly kill itself by a thousand cuts – and I don’t like what I’m seeing.
What’s YOUR ‘vested interest’ by the way? – tediously and predictably cynically noting that you are a first-time poster…
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Batey batey. Have I hit a nerve? Not a first time poster chum just first time under this name. Wanted to pull your chain. The secret agent eh! Such a noble aim you have to save the property industry from itself. I nearly wept!
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You weep all you want, matey. I have no nerve to hit. Just what you consider a “noble aim” for you to poke fun at.
Feel free to knock yourself right out on that one.
You will see that my “vested interest” has remained constant both here and ‘down the other pub’ for the best part of a decade.
And I’ve retained one posting name the whole time.
You on the other hand may want to protect another ‘identity’.
Two profiles will more than halve the odds of your c0cking the job.
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Thanks, I will. A troll with a noble agenda – whatever next. When (if) you enjoy an introspective moment please consider the audible groans that fill offices around the country when you pop out of your hole to dribble over an issue. You are correct in one respect – you are consistent. Consistently and painfully predictable in your negativity and clearly amused to get a rise out of people. Grow up chum.
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Thanks for the advice. I have considered it carefully, and duly filed it in the appropriate receptacle.
If I’m grinding your gears – then I’m clearly achieving something.
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hmm, Gil63, two uses of the term ‘ chum’ in quick succession, I’m intrigued as to which name under which you’ve previously contributed, I don’t recognise a style
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Looking back – it seems that I’m as guilty as the next person of using ‘chum’. So maybe I’m having a pop at myself!
Wouldn’t be the first time…
Other than yours truly, there are a couple of names that stick out, though…
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Maybe, just maybe, I’m switched on enough when travelling incognito to drop an unusual word now again to make those soooo keen to identify me spin their wheels a bit chum or maybe I’m PeeBee having a crisis of personality 😉
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You’re pleased with yourself aren’t you 🙂 🙂
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“No one has, to this point, created a sustained – and sustainable – national advertising campaign explaining what full service estate agency is and why it can represent exceptional value.”
So – let’s create the complete opposite and just go cheap to get the gig?
I’m out. NOT that I was ever in…
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I suspect that decision has just improved the chances of that initiative succeeding
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I’m a better Bee for that knowledge.
I’d hate to get in the way of your gameplan.
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Hey – that might be the plan!
Get all ‘PeeBee haters’ on board – double your Membership in a heartbeat.
And… maybe I’m in on it?
Maybe THIS is the ‘vested interest’ you are alluding to?
I like your thought process, ‘Getinlinechaps63.
You’re one smart cookie.
Time will tell…
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You are too bright for me PeeBee. Wheels within wheels with wheels eh. Anyway got a business to run – much as I love trading pleasantries with you. Bon chance. Keep fighting ‘the man’
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“You are too bright for me PeeBee.”
I wasn’t going to point that out….
…but I’m glad you had the honesty and decency to.
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How can we be invited? I registered last time, but I wasn’t invited? What are the criteria for selection? I thought everybody can join, am I missing something?
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I’m guessing that not enough agents in your neck of the woods are interested so no ‘Roadshow’
Also i doubt very much they have over 300 agents signed up. That’s the bonus of keeping it a secret. Nobody can call you out on it.
To me it sounds like the offering from Hystreet – Check it out you will not have to pay Iain or Mal a penny that way.
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Honestly does anyone think an initiative with a multi 00000 budget with that kind of traction (alleged) is teaming up with Hystreet. See my comment on – ‘leave it to the big boys’. Sheesh
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We’ve been targeting select areas and agents at present which has meant that we haven’t been able to get to everyone we’d have liked just yet. Do email uha@growtion.co and we’ll be in touch.
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Shut up PeeBee, You will never be the man your mother was.
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I don’t want to be the man my mother was.
She clearly rode you like the pony you aspire to be…
I prefer to gnaw ankles.
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Nah mate, She was rubbish.
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It’s never the pony’s fault – always the rider.
So says the pony…
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Boom!
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Before any agents parts with their hard earned money.
Take a look at the poor saps that purchased “Easy” licenses from Fine & Country – How many of them have seen a single penny back in their investment.
You do not need an online offering, even if you did you can do it better yourself.
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Easy subscribers had options not shares. At least get your facts straight if you are going to troll!
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What part of Smiles post says shares? Are they not investing £500 a month for the privilege?
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Come to think of it, did any of the rateragent crowdfunders see a return?
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Its obvious from the incredible defensive posts “Getinlinechaps63” has skin in the game.
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I’m still smiling. Maybe I know something you don’t.
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I doubt anything you know is worth knowing looking at the posts.
Look at Mal’s record. Hardly a CV of success in my opinion.
Look at the results of Online agents, failure to make a profit, sell only circa 50% of instructions, still only circa 5% of the market.More and more bad press, share prices continue to slide, needing more crowdfunding to prop up the business.
Iain White and his involvement against OTM left a sour taste in many agents mouth (even if we do not agree with OTM).
So if you think this is the next big idea go for it, only question i would have is why do the individuals need other people money? if it was such a good idea take out a personal loan, remortgage their houses. Least put something into the business instead of using other peoples hard earned cash.
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(Still smiling) i’ll certainly take a look. No harm in that. Not like i’m going to be forced to sign up at gun point. So much fear on here. I agree with you (shock) on the financial skin in the game but as as neither of us know the funding structure then I guess we are both pulling opinions out our backside. The difference is I’d like to be informed so I can take a sensible view rather than troll everything ‘ not invented here’.
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Look at the track record.
Nothing will change from the past. I do of course stand to be corrected.
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Has Harry Hill joined the board yet? same old people, round and round they go….
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full service estate agents need a full service back office,
Support from answering phones after hours, on line chat service for each agents website (difficult to do I would have thought), collective bargaining for services, advertising and staff training, etc, etc.
They could do so much for every independent, data mining, cross selling services etc, etc.
Obviously I don’t actually know what these guys are thinking about, it’s a secret.
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Having attended one of the presentations of Project UHA I can hand-on-heart say that it is one of the most comprehensive, well-rounded, large scale offerings that I have seen in a long time, especially within the ‘proptech’ space. There were around 10-15 knowledgeable agents in the room from all parts of the country and, between us, we grilled the panel on just about every aspect and proposed issue and each and every time they had a concise, considered and knowledgeable response. What is more, they have built a team that blends knowledge of tech, ux & consumer experience, in-depth knowledge of our industry and large scale market competency. On the basis they achieve the target metrics for launch (of which I have no doubt) they will be a major force in 2018/19 and beyond and will be taking their member agents on that journey with them.
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No offense but you are one of the most optimistic agents there is.
You see the best in most people / offerings.
It’s a compliment.
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100% behind a rational and organised collaboration of agents, but is it rational to organise fear amongst agents to potentially self cannibalise their fees in the hope of up selling later and all for a tiny slice of home sellers who make poor decisions? And then throw £10M plus on marketing at them when they appear to be learning a painful lesson all on their own?
I must of missed something? Like an entire secret meeting. Enlighten me.
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I agree….I still think it is better to try and spend all the marketing on promoting the Full Service Agency Offering. If you want to learn about what we are doing towards this contact us at the ideas network in@agentv.co.uk
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