Hunters performing better than expected and set to announce more branches

Hunters is anticipating a stronger first half to this year than it had antipicated.

There have already been seven new openings in the network this year, and Hunters is poised to announce more.

The group, which has over 200 branches across the country, says it has also strengthened its technology with the appointment of Dan Rafferty as chief operating officer.

He joined the group after 14 years at Foxtons.

Hunters chairman and co-founder Kevin Hollinrake said Hunters is ready for the tenancy fees ban, now just days ahead.

In a trading update, Tory MP Hollinrake said: “Given our strong sales profile our exposure to the tenant fee ban is expected to be less significant than predominately lettings-based businesses.

“We believe that as the burden of regulation further increases, the demand from independent businesses to join our network to take advantage of our technology, procurement, portal discounts and training with a demonstrable record of improving revenue will prove even more compelling.

“We retain a healthy pipeline of potential new franchisees seeking to join the network.

“As we approach the second half of the year, we do expect some challenges in the market due to the ban, which we have already factored in.”

Glynis Frew, chief executive of Hunters, said: “The industry has been no stranger to profound challenges over the last few years but we have remained remarkably resilient against that backdrop as the benefits we offer to our network put us in good stead to deal with them.

“We are further delighted to announce that our customer service rating has continued at 96% across both sales and lettings which brings us closer to our vision to become the nation’s favourite estate agent.”

 

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2 Comments

  1. Woodentop

    In a trading update, Tory MP Hollinrake said: “Given our strong sales profile our exposure to the tenant fee ban is expected to be less significant than predominately lettings-based businesses.    
     
    Or put it into plain  language …  tenant fee ban stuffed letting agents and prevent anyone new from starting up.
     
    Fees should have been capped.

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  2. Property Poke In The Eye

    We shall see what happens to Hunters and others when the letting fee ban comes in.  Rentals  is what is keeping most agencies going at the moment.

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