High street agent ‘gives away’ its business to online firm

An online agent charging vendors from just £99 is said to have bought – possibly for nothing – the high street agent with which it shared an office.

99home, which lists on Rightmove and Zoopla, shared premises in Willesden, north London, with high street agent Propertyhub.

When Eye last covered the story, we quoted industry trainer Julian O’Dell as saying of the £99 (including VAT) fee: “Blimey. Where will it end?”

To that question, both Chris Wood and Henry Pryor independently gave near identical answers, saying: “In tears.”

Yesterday evening, 99home said it had acquired Propertyhub for an undisclosed sum. However, it appears no money changed hands.

Nehal Virani, director of Propertyhub, Willesden, said: “It is a fact, with the growing presence of online estate agents in Willesden, it’s very hard to survive in the current market.

“99home is a very fastest growing online estate agency in UK property market and we feel they will be the market leader within a few years.

“Looking forward to the coming year where the tenants fees ban [sic] it is better we give away our Willesden branch and business.”

Vijay Vashistha, co-founder of 99home.co.uk said: “We launched 99home in July 2017 and are already in top 25 online estate agents. It’s a brilliant opportunity for those independent estate agents who are struggling to secure the business or planning to shut down their agency to join the 99home team.”

Vicky Tevari, sales director at 99home, added: “Having been in estate agency for over 25 years, I have seen many changes and 99home is reshaping selling and letting properties for the better.

“The online agency is the future and traditional estate agents are struggling to justify the fees they charge.”

On the website, 99home.co.uk says it is the fastest growing agent in the UK.

EYE has quoted accurately from the press release of yesterday evening.

Make of it what you will.

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20 Comments

  1. jackoTLG

    Sounds like they were sister companies already and it’s just a PR stunt

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    1. PeeBee

      OHHHH YEEESSSSSS!

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      1. Bless You

        Been looking at other franchises recently,,,  many report turnover triples when you have a shop due to trust and herd instinct of knowing your genuine because you have made the effort to do it properly. ….HOLD!!

         

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  2. PeeBee

    Written by the scriptwriter for ‘It Ain’t ‘Arf Hot, Mum’?

    This is one desperate… shameful… Press Release.

    “Vicky Tevari, sales director at 99home, added: “Having been in estate agency for over 25 years…”

    Mr Tevari’s LinkedIn profile has more holes than a colander and apparently he spent four months working for two companies at the same time!

    Speaks volumes, some might say…

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    1. AgentVX17

      I never saw you 🙂 …always moaning!! Are you the biggest moaner in the UK? 🙂

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      1. PeeBee

        Nope.

        I have a more apt question:

        Are you eleven years old by any chance?

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  3. Trevor Mealham

    CRAZY. But if thats all they feel they are worth.

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    1. PeeBee

      Typical Mickey Mouse overvaluation, Mr Mealham!

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  4. IndAgent

    “99home is a very fastest growing online estate agency in UK property market………..”

    You would think that a tech savvy firm would at least have a spell/grammar checker. Laugh out loud.

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    1. PeeBee

      That IS their spell/grammar checked version, IndAgent!

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  5. PeeBee

    Have a look here at one of their listings:

    http://www.rightmove.co.uk/property-for-sale/property-62295250.html

    The property is in WIGAN.

    Anyone wonder how, then, an Agent in WILLENSDEN can attend the property in order to fulfil the basic requirements of Rightmove and Zoopla’s Listing Agreement?

    They say they have a nationwide team of Agents.

    Would ONE please step forward and be counted.

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    1. Estate_Agent_Memes

      Loving the quality of the photos also!

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      1. AgentVX17

        Use your both eyes! 🙂 🙂

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  6. VFM agents

    Bold claims on their homepage that they are “the UK fastest growing estate agent”

    It looks like Trading Standards could have a field day with 99home.co.uk

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    1. AgentVX17

      I was thinking the same way…but I thought let’s check on Rightmove and what I found?

      Ref number 703! Wow !!

      http://www.rightmove.co.uk/property-for-sale/property-62448685.html

      No Let agreed or sold STC….probably Rightmove may be charing on property basis 🙂

      700 properties in 3 months! I will say Wow!

      Kick the A***H*** !

       

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      1. PeeBee

        Oh – if only you could comprehend what a complete and utter div this post makes you look.

        I’m going to repeat a comment I made to you, back in July:
        Are you having to really try hard to play thick-as-mince?
        I’d dread to think that it could actually come so naturally…

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  7. PaulC

    They have 46 homes for sale Nationally

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    1. VFM agents

      and none of them are under offer or SSTC

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      1. AgentVX17

        I was thinking the same way…but I thought let’s check on Rightmove and what I found?

        Ref number 703! Wow !!

        http://www.rightmove.co.uk/property-for-sale/property-62448685.html

        No Let agreed or sold STC….probably Rightmove may be charing on property basis 🙂

        700 properties in 3 months! I will say Wow!

        Kick the A***H*** !

         

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  8. AgentVX17

    Did you really ever had any schooling? Looks like you are not even a GCSE!!! 🙁

    Change your glasses …..It’s not a £99 company….It’s £999 company!

    Use your brain …you just come here to moan!

     

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