The Emoov Movement no longer Moving?

December 4, 2018

Despite only recently securing investment via Crowdcube with a £1,000,000 raise and the merger of Emoov, Tepilo and Urban.co.uk, it appears that the Emoovement is no longer moving.

The online estate agency brand which was founded by Russell Quirk is now said to be leaving 100’s of consumers out of pocket (their service requires certain upfront payments in order to market and sell property). The Sun newspaper along with many other national news channels highlight that ‘the company had “run out of cash” after investors failed to deliver “several million pounds” promised when the company merged with competitors, Tepilo and Urban.co.uk in June‘.

Recent endeavours to find Emoov a buyer seem to have fallen flat despite its national brand recognition, it is stated that during its 9 years of trading there was never any profits. An email leaked out that was sent yesterday from Russell Quirk to the staff of Emoov declaring that the company was going in to administration ‘They say that entrepreneurs should never give up,‘.

Is this the end of online estate agency? Is this a failure at board level to deliver a profitable working business? Is it just a masterclass of using investors money to build a brand that simply eats money? Should Russell Quirk now take up an advisory role in ‘how to raise money on Crowdcube‘?

 

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Estate Agent Talk

5 Reasons to Invest in an Airbnb on the Isle of Wight

The Isle of Wight is one of the UK’s most beloved holiday destinations, offering stunning coastal views, historic sites, and a relaxed island lifestyle. With the rise of staycations and the increasing popularity of short-term rentals, investing in an Airbnb on the Isle of Wight presents a lucrative opportunity. Whether you’re a seasoned property investor…
Read More →
Love or Hate Rightmove
Breaking News

25,000 first-time buyers set to miss stamp duty deadline and complete in April

Over 25,000 first-time buyers in England who are currently going through the process of legally completing on a property purchase are predicted to miss the stamp duty deadline on March 31st, and complete in April Nearly 74,000 movers in England in total are set to miss the deadline and complete in April, with a collective…
Read More →
Estate Agent Talk

How Property Part Exchange Works: A Step-by-Step Guide

When it comes to selling your home and buying a new one, the process can often be complex, stressful, and time-consuming. However, property part exchange offers a convenient solution for homeowners looking to move without the hassle of a traditional sale. In this guide, we’ll walk you through how property part exchange works and why…
Read More →
Letting Agent Talk

Understanding the Decent Homes Standard: What Landlords Need to Know

As a landlord, ensuring your rental property meets the Decent Homes Standard is essential for maintaining compliance, keeping tenants satisfied, and protecting your investment. With evolving regulations and increasing tenant expectations, landlords in Banbury must stay informed about their responsibilities. Whether you’re new to the rental market or a seasoned investor, understanding these standards can…
Read More →
How to add value to your home
Home and Living

The Ultimate Checklist for Preparing Your Home for Viewings

Selling a home is an exciting journey, but to attract potential buyers and secure the best offers, it’s essential to present your property in its best light. Whether you’re selling through Belvoir or looking to attract renters, a well-prepared home can make all the difference. Follow this ultimate checklist to ensure your home is ready…
Read More →
small house bird box
Estate Agent Talk

Families can move up the property ladder by paying 1% more in this city

Families in Suffolk can take a significant step up the property ladder with minimal financial stretch, as the team at Suffolk Pocket Door Company reveal that upgrading from a terraced house to a semi-detached home in West Suffolk costs just 1% more on average. Here Carl Benson, owner of Suffolk Pocket Door Company comments. Why…
Read More →