Moving into estate agency

By: Linda Whitney

PEOPLE will always need to move house, so if you are a fan of property, an estate agency franchise could be for you.

'Even in slow markets, professionally trained estate agents know how to make the phone ring,' says Christopher Hall, former president of the National Association of Estate Agents.

Georgina Cox of estate agency franchise Moving Works is also optimistic.

'Despite the gloomy predictions, January has got off to a good start,' she says. 'There has been plenty of interest and activity, and we have registered many first-time buyers across our network of 18 offices.' Most estate agency franchises do not expect you to have experience, but sales and business skills help.

You can be an agent yourself or run the business and employ agents.

'People with previous management, sales or marketing experience who are passionate about property are ideal candidates,' says Ms Cox.

To take on a franchise with Moving Works, you must make an investment of £50,000.

If you are new to the trade, check what training franchisors give.

Engel and Voelkers, for instance, which specialises in high-quality properties, includes training in legal compliance, sales, service and internal systems at its academy.

You are expected to take more courses once you get started, too.

The investment varies according to location.

Also check what range of services you will be offering. 'In a tighter marketplace, there is always more demand for lettings,' says Rob Mott of Enfields, where investment is £150,000 to £200,000. Its franchisees offer sales, lettings, mortgages, surveys, legal work and removals.

The Surrey-based Exclusively Estates, which specialises in the most expensive half of the sales market, launched as a franchise at the end of last year.

'There is always demand for premium property,' says Exclusively's Simon Pelling. He's looking for investors with an estate agency background or entrepreneurs who will employ someone with local market experience. Investment is £100,000.

RE/MAX franchisees work differently.

They run offices of selfemployed estate agents, paying commission on sales.

Services include residential and commercial sales, lettings, relocation and foreign property sales.

Investment is £50,000 to £100,000.

Overseas property franchises are recruiting, too. Resort Homes franchisees offer new and resale properties in the Costa Calida region of Spain, which are managed by Resort Group on behalf of owners. 'You get help setting up. How you market your service is your choice,' says Sonia Facchini of Resort Group. Investment is £22,500.

Rental is not subject to the same market swings as sales, and some franchises, such as Surelet, specialise in lettings and management.

'We have seen a steady increase in demand for lettings among firsttime buyers who can't get on to the ladder and workers moving into new areas,' says Colin Poole of Surelet. Investment is around £50,000.

Enfields: 0845 094 4915. ENGEL and Voelkers: 01635 459 000.Exclusively Estates: 07894 014 719. RE/MAX: 0800 023 4846. Resort Homes: 0161 924 2330.

Surelet: 01452 762 097..




HELEN HITS THE HIGH STREET

HELEN WILCOCK swopped a career as an independent financial adviser to run an estate agency with a Moving Works franchise.

'I could not have done it without the franchise,' says Helen, 42 (left), who has a High Street agency in Preston, Lancashire.

'The training speeds up the learning process because it condenses years of experience on the franchisor's part.

'It meant I could go out and feel as though I was a professional in the market very quickly. There is also help from head office at the end of the phone, which helped build my confidence quickly and maintain the business reputation I already had in this area.' So is now a good time to be getting into the property industry? 'Any business set up with appropriate support and focusing on communicating with its clients should be fine,' says Helen.

'Communicating with your clients is the most important factor in ensuring business success as an estate agency.' Moving Works: 01772 611 631..