Online company launches “innovative” Agency In A Box concept

An online estate agency is launching a quasi franchise operation it calls Agency In A Box and claims applicants will “effectively” keep 90 per cent of their fees.

Online Estate Agents, a company which has the Sellmyhome and RentMyHome brands, is introducing what it describes as a partner licensing system. 

The model has no entry fee but charges licence holders £500 plus VAT per month and takes 10 per cent of each transaction fee.  

Licencees get the use of a back office team, marketing, training and what managing director Shezad Tayub calls “a recognised brand” with access to major portals and a CRM. 

“All they need is a desire to achieve the best and be part of something that will become a national, household brand. We’ve already received a lot of positive response from potential partners and the fact we are waiving the first three months management fees for the first 50 successful Partners, demonstrates we are willing to contribute towards their success” he claims. 

He says the Rentmyhome brand delivers a full lettings and property management business and his newly launched Financemyhome brand “is already generating a significant contribution.” 

Sellmyhome charges an upfront “essential standard” fee of £799 to £999 including VAT, and a no sale no fee “essential plus” at £1,499 to £1,999 including VAT. There is also a “premium traditional” charging from 0.75 per cent plus VAT.

Tayub adds: “We believe in making it easy [for agent applicants] and our model is easy to enter and easy to exit with only a rolling 12 month contract and option to renew. We are not interested in creating punitive, long term contracts as we believe a contract is only as good as the relationship that underpins it. If it is not working for an agent they can move on. 

“However, we’re confident that by creating the right environment for success and leaving the agent with the lion’s share of reward, we will all benefit.”