Residential Property Sales Specialist Estate Agency For Sale

Business description

Built upon the current Owner’s twenty five years experience as an Estate Agent in this prosperous Surrey market town, and situated in its current, high profile location for the last seven years this leading independent Estate Agency has established a firm reputation within the town for a professional, efficient, reliable but above all personal service. Having in the past been involved in Lettings and Management, Land sales and New Home developments this business now solely concentrates on residential sales having carved out a particular niche in the market for selling mainly mid to lower end properties. Although this business has recently sold property in excess of £1 million and a penthouse at approximately £300,000, two bed flats to three bed houses, at around the £300,000 mark, located in the town or surrounding villages within a few miles radius of its office, are its standard fare. Approximately 30 to 40 properties are in its books at any one time.

Operating from very well positioned, custom designed offices – en route for pedestrians from the station to the High Street and close to a major road junction, all of which generates significant passing traffic, this business has a very strong corporate look and feel, suggesting an organization far bigger than it actually is – an image further enhanced by the very professionally designed corporate identity, sales literature, details folder, big screen window display and the featuring of 360 degree virtual tours of properties, which it has the capability to record in-house, on its website.

The cornerstone to the success of this business and what firmly stands it apart from the competition and in particular the major High Street chains is the personal care and attention each and every Client – buyer or seller - receives the minute they walk through the door. Staff are very well trained and highly motivated and responsive to all the Clients’ needs. Working on a strictly ‘No sale, No fee’ basis – with no abortive costs, this business offers free valuations and a flexible fee structure that only an independent can – and with excellent longstanding relationships with legal and financial professionals is also able to offer discounted Solicitor’s fees and Independent Mortgage advice. Fees start at 1.5% for sole agency rising to between 2.0 and 2.5% for multiple agency appointments. All sellers receive weekly updates on the progress of their sale.

Based in an excellent, high profile location, this is a very attractive business proposition. With turnover of £250,000 generating profits of approximately £40,000 for an Owner, largely divorced from the day-to-day running of the business, this represents an excellent acquisition opportunity for a new entrant to the market or perhaps more appropriately for another estate agent looking for an established foothold in this prosperous area of Surrey.

Property information

Location:

Operating from very high profile, custom designed offices in a prime secondary retail position, just off the main High Street of this busy Surrey market town, this business benefits from high levels of awareness, passing traffic and good footfall whilst enjoying lower than expected overheads.

The business operates from a two storey retail outlet with the Ground Floor given over to residential sales with the First Floor office accommodation split and shared on an informal basis with an Associate company operating Lettings and Management.

The Ground Floor, approximately 800 square feet and currently with four work stations has been furbished to a very high standard, is fully alarmed, has air conditioning on the Ground Floor, gas fired central heating throughout and includes an in window display screen for property details. The self contained first floor office is approximately 300 square feet.

The premises are leasehold with approximately 14 years remaining. Rent is approximately £20,000 per annum with Rates of approximately £5,500 per annum. The Associate company operating from their own self contained office accommodation on the First Floor currently contributes £780 per quarter including Rates.

Other information

Competition / Market:

In line with its high profile corporate image, this business has an excellent website that performs very well in all major search engines for all appropriate search terms, a presence significantly boosted by appearing on the major branded property search sites including Right Move and Find a Property. This business has excellent relationships with the local press with its full colour, full page Homes For Sale ad appearing consistently at the first inside left hand page of the major local newspaper. In addition the business has a very effective computerized canvassing system regularly targeting local properties encouraging requests for valuations and in particular targeting properties that are currently on the market with other local agents. This business however benefits most from the most cost effective form of marketing, word of mouth recommendation testimony to its excellent reputation in the local marketplace.

Support & training:

The current Owner will be on hand to ensure a smooth transfer of the business to new Owners, however since the day-to-day running of the business in the hands of the current management team, it is not anticipated that this will need to be too extensive.

Reasons for selling:

Having worked as an Estate Agent all of his working life, the current owner wishes to retire from the sector to pursue other unrelated business interests.

Trading hours:

The business currently operates between 8.30am and 6.30pm Monday to Friday and between 9.00am and 5.30pm on Saturdays