love2move, the fixed fee selling platform that allows established estate agents to offer their clients choice when selling, has reported a huge 152% increase in new instructions.
Compared with the same third quarter last year, the figure far exceeds the 36% rise experienced by high street agents, according to TwentyCi’s Property & Homemover Report.
Meanwhile, growth in new instructions to hybrid agents was 49% higher than their high street counterparts.
Georgina Cox, who together with Mark Worrall, founded the love2move network in 2017, said the 152% increase in new instructions, compared with the same period last year, highlighted the changing demands of homemovers.
High street agents have already suffered 713 branch closures so far this year as online agents nudge towards capturing 10% of the market.
Property lawyer Georgina, who also run Lancashire-based estate agent MovingWorks, said: “Many agents have been so busy that they haven’t noticed the continued threat of online only operators with some believing the threat has receded.
“These figures show that isn’t true, with many vendors bypassing traditional estate agents due to the high demand for properties experienced recently.
“Online agencies aren’t going anywhere, especially with a second national lockdown across England, despite the housing market remaining open for business. COVID-19 has changed the world in terms of how people communicate, shop and do business online and this is only set to continue.”
The love2move automated platform is a valuable resource for partner agents offering high street agents the ability to offer greater choice when selling, appealing to a wider range of clients.
Its low fixed-fee service is designed for those who want to keep control; of costs and retain flexibility, without sacrificing the support of property professionals.
love2move supports rather than diminishes the office-based service – with vendors paying an upfront fee of £895, of which £500 is paid to the local agent within three days.
Georgina said that one love2move agent had already received more than £10,000 in commission during the third quarter of this year.
She added: “The success of love2move, reflected by the phenomenal increase in new instructions, shows that high street agents are increasingly attracted by its many benefits, which includes improved cash flow, the ability to appeal to a wider client base whilst offering a competitive alternative to internet-only agents.”
