Country Wide PLC the largest so called high street estate agency woes continue snowballing
Two more key people are leaving Countrywide CIO Oliver Skagerlind and unsurprisingly public relations manager Christine Webb. Last week Online estate agent purplebricks.com CIO, commented on their in-house tech team , growing rather than leaving.
Skagerlind joined in 2011 from Royal Bank of Scotland. His CV includes stints at businesses relying heavily on High street retail like Carphone Warehouse, he will be departing in March. Carphone Warehouse founder Charles Dunstone [pictured below] has , also invested heavily in online estate agent housesimple.com
Sir Charles Dunston
The chief executive Alison Platt currently at Countrywide CEO who has been under-performing since her appointment at the helm.18 months ,shares dropped sharply in early November last year .
CWD in freefall since May 2015
Grenville Turner chairman of CountryWide went walk about after rumbles within the board room , after the company flouted corporate governance guidelines by promoting him from CEO to Chairman, to the disdain of many investors.
The departures follow on from a string of employees leaving the firm , analysts have pointed to the public's preference for the growing in numbers and strength of online estate agents.
Business Model
No physical presence [online estate agents ] online business model allows estate agents to drastically reduce operating costs, viewings are carried out by the homeowner [or agent accompanied visit] , fixed fees rather than commission is charged on completion of let / sale property , cutting cost for landlord tenant and homeowners.
Emoov ceo Russel Quirk recently commented in the respected , Independent news paper the staggering revenue hauled in from the 2015 property boom, by London commission based high street agents.
Talking on BBC Radio 2 easyPropery.com CEO Rob Ellice has gone on record saying 42 % of the UK ,will soon be using Online Estate Agents and that , the pace of growth ,change in the publics attitude, was astonishing,from recent research, carried out by his firm.
Talking on BBC Radio 2 easyPropery.com CEO Rob Ellice has gone on record saying 42 % of the UK ,will soon be using Online Estate Agents and that , the pace of growth ,change in the publics attitude, was astonishing,from recent research, carried out by his firm.
Interestingly Andy Clark ,who held a key product development role at OnTheMarket [ [only listing high street estateagents] since the portal’s ill fated launch , some 11 months ago, has moved over to easyProperty.com becoming their head of product development.
CEO Alison Platt Like for Like ? or lost in translation ? speaking in July 2015
A CEO who seems to be completely out of their depth, contradicting everything said in prior statements.
The company trading statement 21st Jan 2016
"It is too early to predict what the trend in residential transactions will show in 2016 although approved mortgage volumes including owner occupiers ... in recent months have been ahead of the previous year, which is a positive indicator. Both our Retail and London business units enter 2016 with transaction pipelines ahead of the previous year. At this early stage we maintain our previous expectations for 2016"
Country Wide plc [CWD] shares rose on the news of though very vulnerable to market forces , with a CEO who is running out of excuses on performance and with investors.
whats is interesting the trading results hark back to mortgage sales of 2014 before Alsion Platt Joined .
CWD buying a house builder and promoter of SMEs, makes good city headlines despite shares falling south since May 2015 last year.
Further Reading
buying letting renting property and homes, will never be the same again
New head of development joins leading online estate agency easy property + launching #CRE auctions
Bank of England volatility has extinguished any prospect of a rate rise in the near-future.on track for seven years of record low interest rates as global markets turmoil
Why UK Property Online Real Estate Agents really do have billon pound start up potential Says GOOGLE
Bowie predicted the internet of things which can be applied to property industry today
2016 year of Tech start Future is VERY BRIGHT from London to New York
Birmingham, Berlin and Hamburg are top of the property market as the capital is overtaken by cities such as Budapest and Istanbul
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