Hunters now UK's third largest agency with PropTech to the fore

The Hunters franchise group says it’s now the third largest agency in the UK, and it promises to reveal a major Proptech development in the near future.

“We will soon be announcing exciting developments to our technological proposition and it will be designed specifically to strengthen our customer offering and drive productivity” according to chief executive Glynis Frew.

“We will never lose sight of our local customer contact and local expertise, so it’s important to Hunters that our investment in technology reflects customer needs and enhances their experience” she adds.

Hunters is thought of by industry observers as having a strong record on Proptech innovation; it recently signed a strategic partnership with lettings software platform teclet, and has become a customer of deposit alternative service flatfair.

The teaser for a new PropTech development from the 200-branch Hunters network came in a strong trading statement to the group’s shareholders.

Network income rose seven per cent in 2019 to £42.4m and average income per branch was up by three per cent to £206,000.

There were some 20 new branches opened in the year to bring the total number to 206, and the size of the new offices increased with their income averaging £278,000 compared to the £186,000 for the branches which joined the network in 2018.

Hunters income split was 66 per cent sales and 34 per cent lettings. Hunters sold (subject to contract) almost 11,000 properties in 2019, making it the country’s third largest agency.

Seven lettings portfolios were purchased by local branches in the past 18 months and overall network lettings income for the business grew in 2019 by 12 per cent - and that’s despite the tenant fee ban introduced in June of last year.