Russell Quirk, founder of eMoov, says he would like his company to be listed on the Stock Exchange in five years’ time and have a 5% share of the entire estate agency market.
Quirk also seems to be disenchanted with the need for fundraising.
Asked in a revealing interview what has been his biggest challenge, he replied: “Fundraising.”
He explained: “The novelty has well and truly worn off for me now and whilst it’s a buzz to raise a seven figure cheque, after the third time or so the toil, admin and wasted meetings wear you down. I just want to get on with running the business.”
He went on to admit he had been given bad advice and made some wrong decisions. He wished he could have been helped by someone with no vested interest, who could have guided him through what a growth business is, and how to gain access to a broad range of investors.
He said: “It’s important to know your own mind whilst also taking account of other opinions and suggestions, but you ultimately have to be decisive. As a start-up, a quick decision and a failure that you then learn and move on from, is better than being afraid to make a decision at all.”
Quirk, who launched eMoov in 2010 and is a former high street agent in the family business, said that eMoov is changing the way people sell houses.
He said: “We’ve turned the traditional estate agency business on its head and our approach is predicated around three core elements:
- A fair, fixed selling fee that’s several times lower than that charged by old fashioned estate agents.
- An obsession with ensuring the best customer service despite moving home being a stressful and protracted process otherwise.
- A bespoke user platform that allows sellers and buyers to access and amend their listing 24/7, putting the customer back in control of their transaction.”