The new management at Emoov says that following its acquisition out of administration it will relaunch as an online estate agency later this month.
It has asked previous customers to contact it via a new email address - welcomeback@emoov.co.uk - and a statement from the new management says: “Customers who signed up to Emoov or Tepilo and prepaid a listing fee to the previous management (before December 2018) can email welcomeback@emoov.co.uk and the team will work with you to get your property quickly re-listed and sold.”
The statement about Emoov’s reopening links the troubled agency with the digital platform Mashroom, a peer-to-peer lending service launching in March.
The latest statement says: “Emoov will go back online in late January 2019 under the ownership and guidance of the Mashroom team and its founder, proptech entrepreneur Stepan Dobrovolskiy.
“Mashroom acquired the branding and platform, in what is a show of confidence for the online property industry in a tough UK property market which has taken a hit across all sectors over the last couple of years.”
Dobrovolskly is quoted on Emoov’s website this afternoon as saying: “The team and I are very excited to be able to put Emoov back online. Emoov has an impressive eight-year history and is one of the first and largest hybrid estate agencies in the UK.
“This is the start of a new chapter for the company and the industry. I believe an unencumbered, wiser and innovative Emoov is in the perfect position to develop a sustainable business model for the industry. The future of the property market is digital, and it is in the hands of empowered customers connected by community and data.”
The statement calls Emoov as Britain’s second biggest online agency - which may come as news to Savills- and LSL-backed Yopa, which regards itself as the second. The claim by Emoov comes despite its listings book being sold by administrators last month, for an undisclosed sum, to Pattinson Auctions.
The Emoov website says the agency will continue as a hybrid “based on a branch-free, fixed fee model with self-employed agents and will seek to regain the digital platforms’ former position as the UK’s best online estate agent.”
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If they are trading with the same everything, first calls will be for claims from previous customers regarding broken contracts. Compensation is due for the return of the fees already paid on dishonoured contracts.
Can they approach former clients after that part of the business was acquired by Pattinsons? I imagine they will have something to say about that! Unless they rebrand and start from scratch surely this is a very difficult route to take in what is proving to be a very difficult market to both grow and find any imminent profitability. I had half expected a major software player to buy their platform and offer it out as a new platform for agents to use.
Lot's of personal details including client ID (I'm sure the previous regime had all the AMLR boxes ticked) backed by a Russian company. My African princess thinks it's a great idea, where do I sign?
The Russians are coming !
Two words.. Tax & Write-Off. Oops that's three but you get my drift.
wonder how much they had to pay for Goodwill, but as i ain't a creditor it ain't my concern, however if i was I would be looking very closely at the statement of affairs, assuming they are liquidating the original one, the Section 98 meeting could be very interesting.
It states that they are inviting former clients back but is that ‘for free’? or will they have to pay again? Companies like this should just sink back into the mud where they came from and disappear!
What value does the brand name emoov have? Minus value in my opinion and Mashroom is deluded if it thinks otherwise. Caveathomebuyer
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