Guy Gittins: ‘How I got Foxtons’ mojo back’

Foxtons has regained its position as London’s number one agent in Guy Gittins’ first year as chief executive.

Former Chestertons boss Gittins was recruited to replace Nic Budden last year as part of an overhaul to give the brand its “mojo” back.

Foxtons now claims it is the capital’s top agent based on market share and growth, based on TwentyCi data for the first half of 2023 compared with the same period of 2022.

Foxtons agreed sales were up 61% in September, against a market backdrop of just 8%, according to Rightmove figures.

An update from Foxtons yesterday claimed that changes in the company's culture in the 2010s had “suffocated” its ethos and had transformed the company into a “corporate vehicle that struggled to embrace the character, energy and aspiration of the early years.”

That was, Foxtons said, until last year, when Gittins returned to take control as company chief executive.

He had previously worked at Foxtons 20 years ago where he became sales manager of the largest Foxtons office in South Kensington. 

On his first day as Foxtons chief executive, Gittins revealed that he made a company-wide address via video link to introduce himself and his plans

He said: “My first company-wide video address on my second ‘first day’ at Foxtons was clear, we are the original property industry disruptors and we’ve always done things differently to the rest of the marketplace and to the benefit of our clients. This is something to be embraced, but the reality was that our focus and performance had slipped over the previous years. 

“It was time to get back to the Foxtons that I knew and loved, a company based on the fundamentals of high volume sales, high energy culture and a clear focus on growing market share, growing acquisitions, creating efficiencies in every part of the process and striving to be the very best. 

“I wanted to revitalise the visibility and vigour of the brand and the pride associated with being a Foxtons estate agent. Reinstating certain aspects of the previous culture was a vital part of this. More noise, more energy, more Foxtons Minis, more events, more trips, more incentives, more fun.”

He said the changes meant providing greater budgets, more staff members, better technology and the ability for us to utilise the vast amount of market data it has gathered in a realistic and effective way. 

Foxtons also launched a new Mini last Christmas and introduced more staff training.

It is now using in-house technology to analyse performance and improve business decisions, while its Sloane Square office has been the first to benefit from a digital makeover.

Gittins added: “I wanted all of our staff to know from the get-go that it’s not ok to be average and we would once again celebrate and embrace the winning culture, providing those who perform at the highest levels the very best opportunities to progress their career.

“In doing so, this would naturally ensure that whether you are looking to rent or sell a property, Foxtons would not only provide you with the very best service, but also achieve the very best return.

“Visibility of the Foxtons brand is back and we’ve seen lettings revenue records set on a weekly basis, while our sales pipeline has also been rebuilt at its fastest rate in five years.”