Online Estate Agency – The Rise of The Machine (Interview CEO of emoov)
June 21, 2018
Q: How are things going for emoov in the world of UK Estate Agency? I am sure things are looking very rosy and you will be able to dispel any myths out there that the online estate agency sector is not doing all that well with valuations to sales ratios and are just being held up by big city investments.
The sector has grown by 196% since the end of 2014, according to Rightmove. Our listings are now at an annualised 13,000 making us the seventh biggest estate agency business in the UK. Purplebricks are now in the top three. Therefore how can anyone honestly and with a straight face claim that the new sector is not growing?
The evidence that I see with regard to sales vs listings ratios is that so called online agents’ performance is the same as high street agents. I mean, why wouldn’t it be when we all advertise in the same places? And please, magic applicant hot boxes and exclusive buyers? These relics of the profession are as obsolete as fax machines.
‘Big city investments’ are indeed supporting the new sector. As they are supporting Ocado, Uber, Transfer Wise, Twitter, Snapchat, WeWorks etc etc… So what? The traditional sector is way too obsessed with the profitability of the ‘online’ model when they should be much more concerned about their own.
Q: Though we consumers are shopping more and more online, there is still that slight reluctance to steer themselves away from the high street estate agent – In your opinion, outside of the cost saving opportunity, why should the seller and the buyer look to engage and trust emoov?
24/7 accessibility. More control through technology. Better service. A better price achieved (1% by us on average according to Zoopla stats). Plus the avg £3000 fee saving of course
Q: PropTech is shaking up the industry with many elements of estate agency streamlined thanks to new software, CRM, apps and more – Is emoov an adopter of #PropTech – Maybe you now have your very own #PropTech incubator at your head office?
We don’t operate an incubator. We build our own proprietary software based on customer journey desirability, a quest for cost efficiency and through rigorous testing and evolution. So yes, I guess you could say we are an adopter of PropTech although I’d say that given our unique platform we are actually PropTech pioneers.
Q: I’m a passionate, ambitious and a hard working individual and would love to get in to UK Estate Agency and make myself a good living – What opportunity can emoov give such a person if they are considering becoming a local agent with you?
As a Local Property Agent, the opportunity to work and progress within a company that’s at the leading edge of the industry and is growing fast, always innovating. Earnings are greater than the high street equivalent for those that are prepared to step out of their traditional agency comfort zone.
Q: What is the vision for the next five years?
To cement ourselves as the UK’s best known and loved estate agent and with a 10% market share. And to ensure a profitable return for those investors that have supported us so well.
You May Also Enjoy
UK House Price Index for January 2025
The latest index shows that: The average monthly rate of house price growth in January was -0.3%. Average UK house price annual inflation was 1.3% in the 12 months to January 2025. As a result, the average UK house price currently sits at £268,000. Here are some thoughts from the Industry. Damien Jefferies,…
Read More 
Exchange time reaches 135 days
Property transactions slow as exchange time reaches 135 days — up 45% on 2019 The time it takes to exchange contracts has risen to 135 days — 45% longer than in 2019 and 3% higher than last year — despite a drop in property transactions year-on-year, it emerged today. Novus Strategy, the transformation consultancy for…
Read More 
Industry response to latest inflation figures and its impact on housing
Industry response to UK inflation remaining at 3%. Nathan Emerson, CEO of Propertymark, comments: “Although inflation has remained steady since last month, it is important to acknowledge geopolitical tensions moving forward, and the effect such pressures may have on many households over the coming months. “Today’s news should help bring a measured sense of consistency…
Read More 
Foxtons Lettings Market Index – February 2026
Seasonal recovery as improved supply and demand indicates a return of market momentum Lettings market is showing signs of seasonal recovery as we see market activity picking up, with February performance indicating that momentum is returning following a usually quieter winter period. Renter budgets remained broadly stable, averaging £540 per week year to date…
Read More 
The best time to list a rental property in London revealed
Lettings experts at Kinleigh Folkard & Hayward reveal the best time to list a rental property in London to get twice as many enquiries Spring is a natural reset for our homes with a light refresh going a long way to help us feel rejuvenated. A quick coat of paint where walls look tired, fresh…
Read More 
Rightmove expert reacts to ONS figures
Colleen Babcock, property expert at Rightmove, said: “Today’s ONS figures reflect the seasonal uplift we typically see at the start of the year, which mirrors what we’ve already observed in our own January and February data. With the number of homes for sale now at its highest level in over a decade, buyers are benefiting…
Read More