The full service fixed-fee online estate agent, EstatesDirect.com, has secured £1.25m in crowdfunding in just 45 days, it was announced today.
Over 200 members of the public have taken the opportunity to join current investors, Poundland’s Steve Smith and DatingDirect’s (now Match.com) Darren Richards and purchase a share in the business. After listing on Crowdcube in February 2015, a notable investment of £175,000 saw EstatesDirect.com exceed its target with 12 days of the listing remaining.
Due to the overwhelming demand, EstatesDirect.com will now allow overfunding until the listing ends on 12 April. This is the company’s second crowdfunding success; in 2014 it secured £660,000 worth of investment in just 10 days.
The investment will be used to fund an aggressive recruitment drive and regional expansion. EstatesDirect.com already controls 41%* of the online market in Worcestershire in addition to employing local property specialists in Southampton, Cardiff, Kent, Surrey, Wolverhampton and central London. It is now planning to roll out its successful business model to further locations across the UK as a result of this latest investment.
Ben Grove, Managing Director of EstatesDirect.com, comments: “The hybrid model of EstatesDirect.com has captured the imagination of homeowners and investors alike.
“Investors are sitting up and paying attention to our rapid business growth, and confidence is high in our fixed fee model. The general public want a slice of our success, and we’re excited to share it with them.”
Dr. Mike Keen is one of the 200 investors. He comments: “Having previously bought shares in EstatesDirect.com, I’ve been very impressed by the business and its ability to guide the bewildered and unsure. When I heard it was to list on Crowdcube again, I took the opportunity to make a further investment. This is a company achieving great things, and only at the start of its journey; I wanted to be a part of it.”
The Crowdcube success comes just days after figures revealed by Savvy Agent, a performance tracking website for estate agents, showed that 52% of all property sold through online agents in the Midlands towns of Worcester, Kidderminster, Stourport and Bewdley in the last six months was completed through EstatesDirect.com, saving the average client a sizeable £4,572.
EstatesDirect.com uses websites such as Rightmove and Zoopla to market properties for sale from as little as £1, as well as finding tenants from as little as just £45. Clients reaping the financial benefits of using an online estate agency can also meet with the company’s qualified Local Property Specialists who provide local knowledge, free market appraisals, valuations and viewings to clients.
For more information about selling or letting a property with EstatesDirect.com please call 08456 31 31 31.
*Figures from http://www.savvyagent.co.uk Savvy Agent is a property information website for estate agents to find comparables in their area. It provides lettings and sales estate agents with real-time market knowledge.