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
Mould and damp – what you need to know ahead of winter
With the winter months just round the corner, problems with damp and mould can become far more prominent. Autumntime is when many people turn on central heating systems and choose to close windows, preventing fresh air ventilation needed to allow damp air to leave a property. Unfortunately, the combination of warm and damp air can…
Read More 
Rental price and average salary tracker – September 2025
London and South East see biggest dips in required rental salary year-on-year London and the South East saw the sharpest dips year-on-year in the average salary needed in order to rent the average home in that area. London saw a 4.2% drop, whilst the South East saw a decline of 2.9%. Yorkshire and Humberside saw…
Read More 
The cities where buying beats renting – with just a 5% deposit
British first-time buyer mortgage payments are typically 17% cheaper than renting, even with a low 5% deposit The average 5% deposit is £11,412 based on a typical first-time buyer property price of £228,233 Among major cities outside London, the biggest gap between owning and renting is in Glasgow, where buyers could save more than £4,750…
Read More 
Rightmove’s Weekly Mortgage Rates Tracker
Average rates for 2-year and 5-year fixed-rate mortgages Term Average rate Weekly change Yearly change 2-year fixed 4.51% +0.00% -0.37% 5-year fixed 4.55% +0.01% +0.01% Lowest rates for 2-year and 5-year fixed-rate mortgages Term Lowest rate Weekly change Yearly change 2-year fixed 3.77% +0.05% -0.07% 5-year fixed 3.97% +0.10% +0.29% Average…
Read More
Data and commentary from Rightmove on stamp duty reforms
Colleen Babcock, Rightmove’s property expert said: “We’ve been calling for stamp duty reform for some time now, as it’s a significant barrier for many people moving home. Abolishing it completely would remove one of the biggest barriers to moving, unlocking more moves at all stages of the property ladder. “Our data shows that only 5%…
Read More 
Second-time buyers dominate demand for longer term fixed mortgage deals
Second-time buyers are dominating demand for longer term fixed mortgage deals, fresh data from Moneyfacts Analyser can reveal. Of those looking for fixed term deals on moneyfactscompare.co.uk: Almost two-thirds (58%) of second-time buyers who compared mortgage deals using the moneyfactscompare.co.uk website were considering terms of three years or longer in the 30 days to 1…
Read More