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

Kerb appeal
Estate Agent Talk

Why November and December are the best and most affordable months to buy

Buyers and sellers looking for the right time to move can consider top reasons from property experts to start the process this November and December. The autumn and winter months may not be the first that come to mind when considering a move, but potential buyers and sellers can be reassured by the experts that…
Read More →
Breaking News

Farmers protest outside Westminster today in anger at the IHT ongoing debate – expert legal view

With today’s news about farmers set to protest outside Westminster in anger at the IHT ongoing debate, Tom Gauterin, Director at national law firm Freeths, said: “Although it is good to hear Mr Reed last week suggest that the Government is listening to farmers, today’s protests would suggest otherwise with the extent of their concerns…
Read More →
Love or Hate Rightmove
Breaking News

Bank Rate cuts boost optimism for 2025 despite Budget pause

Average new seller asking prices drop by 1.4% (-£5,366) this month to £366,592, a bigger fall than the usual, seasonal 0.8% drop seen at this time of year, likely due to pre- and post-Budget jitters However, despite the dampening effect of the Budget, market activity remains stronger than last year as Bank Rate falls: The…
Read More →
Breaking News

How to market to Estate Agents UK

The UK’s property sales and letting industry is quite sizable in both volume of work and those employed within. Some 25 million dwellings in England alone exist and there were estimated to be approximately 55,500 estate agents working in the United Kingdom as of the second quarter of 2024. Up and down the country, in…
Read More →
Letting Agent Talk

Preventative Measures to Reduce the Risk of Emergencies in a Rental Home

Ensuring that a rental home is safe and well-maintained is essential for both landlords and tenants. Emergencies in a rental property can lead to significant stress, financial loss, and potential damage. However, by implementing preventative measures, landlords and tenants alike can reduce the risk of emergencies and create a safer living environment. This guide provides…
Read More →
Estate Agent Talk

Understanding the Metrics Used by Estate Agents to Determine Your Home’s Worth

Determining the value of a property can sometimes feel like a complex process shrouded in mystery. However, understanding the various metrics and considerations that estate agents use to assess your home’s worth can demystify the process and empower you as a homeowner. This blog will provide a comprehensive guide to the key factors estate agents…
Read More →