Dexters ditches 20 brands to become a single-name agent with 60 outlets

Dexters estate agent has ditched 20 brands and got rid of its holding business to become a single 60-branch entity. It has also launched a new website.

Dexters executed the huge changes last week and now says it is the leading independent agency brand across London.

It has not ruled out floating at some time in the future, although for now says it is “proudly independent”.

Brands it got rid of were those that had been acquired by the now-disappeared Thamesview, of which Dexters had been the major part. They include long-standing names such as Brian Lack and Beaney Pearce.

The offices – with the exception of a couple of those in listed buildings which have yet to go through final planning hoops – now have the Dexters name over the door. The number includes 28 branches in central London.

Jeff Doble, who founded Dexters as a small independent in the south-west suburbs in 1993, said he was proud of what the business has become – and he defended its business model.

He said: “The world of online estate agency promises a cheap solution, but most people want their important property assets to be handled by experts with local knowledge, and our success and plans for continued growth reflect this.

“We genuinely believe the future of selling and letting homes is with professional companies like Dexters who represent clients’ best interests and work hard on their behalf.”

He said: “We are a genuine hybrid agent. We have a very busy online presence, but we also have our feet on the ground.”

The business has grown from 16 0ffices to over 60 across London in the past eight years, at a cost of £100m. It has been growing annually at the rate of 26%, and expects to record an operating profit of £15m this year.

In terms of scale, the company employs some 1,200 people, sells over 3,000 properties a year, and has 20,000 landlords on its books.

Doble said: “I set out to do things differently and change people’s perceptions of estate agency. I wanted to build a strong business with a great name built on brilliant people.”

He told EYE that a stock market flotation is a possibility in the future, but it is not something under consideration now.

Doble, pictured, said: “We own our own company, and staff see that, recognising us very much as a group of local businesses that belong together. We are proudly independent.”

Dexters Estate Agent Directors London UK 28th April 2016 ©Vicki Couchman vicki@VickCouchman.com 07957226911

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2 Comments

  1. Robert May

    I remember a conversation  back in late  2001 when Jeff told me his plans and used that as the basis of a serious haggle on price. Subsequently I was interrogated over “The Dexter’s deal”  more times than I can recall.  My stock reply was “Jeff Doble will do what he has set out to “.  Well done Mr Doble you did it!

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  2. RealAgent

    A seriously impressive company that often gets overlooked possibly because they’ve been doing their thing quietly, while others have been shouting about what they’ve been up to.

    They’ve gambled big at times but it’s paid off and whilst I won’t deny there will be a twinge of jealousy, when I go into London, I will enjoy seeing a top independent agent plastering the place in boards which this unified brand will now be doing.

     

     

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