Martin & Co is reported to have acquired EweMove, an estate agency which describes itself as the first ‘hybrid’ service - a Purplebricks-style mix of online marketing and local experts on the ground.
Martin & Co told the City this morning it was buying EweMove for £15m; £8m has been paid up front with £7m linked – unusually – to the group’s performance.
EweMove had been extensively publicising its efforts in recent months, saying most recently that its completions in July and August soared by 56 per cent over the same period last year.
EweMove’s distinctive branding, including the description of co-founder Glenn Ackroyd’s job description as ‘head shepherd’, will remain.
Its 90-plus franchisees will remain branded at EweMove and will continue to work from a mix of offices and homes. These include franchisees who launched this year at Barnstaple in Devon, Reading in Berkshire, Streatham in London and Aberdeen in Scotland.
EweMove was founded in 2014 by Glenn Ackroyd and David Laycock; based on a hybrid franchise model involving over 170 locally-based property agents, EweMove has a national operations centre to support franchisees and promotes a ‘no sale, no fee and no tie-ins’ commitment it calls a ‘Happy Sale Guarantee’.
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All about the hybrid.
For some years my local Martin & Co have offered 2 service levels, traditional full service pay afterwards, or bargain up front very minimal service ... and perhaps a mix too.
Indeed, Michael. So maybe this acquisition is not so much of a surprise as M&C have been offering a service less than what EM offer for a while: https://www.estateagenttoday.co.uk/breaking-news/2015/9/agency-chain-admits-very-limited-take-up-of-online-sales-option
You put your hybrid in, your hybrid out. In, out, in, out, you shake it all about.
You do the hokey-cokey and you turn around, that's what it's all about!
Everyone seems to be jumping on the hybrid bandwagon recently. Aren't most agencies a hybrid by default, given most agencies have a significant presence online - on the portals, on social media, on their own websites? What is the actual definition of a hybrid? Does it mean a mixture of online and traditional services?
It means a tailored service based on the clients needs - simply want to list it but do most of the work yourself - go for it just give us the money upfront and get on with it or want everything taken care of no problems we will just take a bigger slice of the pie on completion. It really isnt about online/offline as a service as far as the customer is concerned.
It isn't that black and white with EweMove... Probably why they are top on trust pilot with 9.9 out of 10.
They offer as much or more than a full agent (rightmove and zoopla with is like 90%+ of your target audience - none of this onthemarket which is to save the agent money not you), personal service, assisted viewings plus open 24/7 and much more!
Essentially most franchisees are non estate agents turned estate agents because they didn't like the way traditional estate agents look after people.
Some hybrid are more black and white but EweMove offer more than most agents, typically just don't have a high street shop (unnecessary expense) to be able to offer you much more for similar fees to others. They just come to your home in your free time... why should you go to an office and waste your valuable time! Haha
I couldn't recommend them enough!!
How do you know that EweMove offer more than us high street agents?? If that IS the case, why do they not have more of a market share??
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