Strike, the hybrid agency, formerly Housesimple, claims to be the fastest growing estate agency brand in the UK.
The company has shared with the trade press new data, which it says has been substantiated by TwentyCi, that appears to support the firm’s claim. See the table below.
Carson Roen, chief marketing officer at Strike, commented: “Strike are the fastest growing estate agent brand in the UK.”
Strike is trying to scale up its online offering to increase its market share after securing fresh investment earlier this year.
The hybrid agency aims to undercut traditional high street estate agents by offering vendors a free property sales service.
The company, which launched in Yorkshire and the North West in June 2019, plans to expand, with a view to offer its full service nationwide from early next year, after raising £11m via its latest funding round.
The investment has been partly provided by two new backers of the business – Sir Peter Wood, via SPWOne, and Channel 4 Ventures – with further funding from existing investors Freston Ventures and Toscafund.
Strike has its sights set on becoming the largest UK estate agency brand next year, surpassing both traditional and online counterparts.
Strike launches in Midlands and central England as it eyes UK-wide expansion
They are also the only agent in the list that offers a ‘free’ service…
I’m not sure how this is surprising. Be great to see a column of these business’s balance sheet & profits.
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Endole provides a nice graph and high level précis that give a fair indication of what’s going on
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But as they only cover the period to 31/3/20, don’t forget to add another year-and-a-bit’s-worth of cringe-inducing potential losses if past performance is anything to go by…
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“fastest growing…”
Remind me – how many times have we heard that claim now? And how many of those “fastest growing” withered on the vine and are gone forever (or reborn with different owners)?
Let’s put these figures in perspective – and maybe even dispel a few myths. Once again, picking and choosing statistics that work for them. It would be interesting to see TwentyCi’s methodology and data – but here’s today’s snapshot as I see it.
The market consists of some 710,000 sale properties (total listings on Rightmove plus 5%). Strike currently hold around 5660 listings in total – Zoopla figure as there is no way of checking numbers on their own website – giving them 0.8% market share. By my maths they would need another 2000 listings to have the 1.07% market share that TCi have credited them with.
Strangely, Purplebricks – who LOVE to quote TwentyCi’s statistical f***wittery (credit: Jonnie) in their Trading Statements and Results Presentations, are showing with only 3%, whereas I get their current market share as 3.92% based upon the above 710,000 figure and their own listings total of 27870.
Now of course my figures are today’s not ‘Q3’ – so a month has already gone by. But that’s a pretty big swing in just one month – in Q4.
Surely in advertising terms, there is a requirement for the claim to be current and susbtantiated – and relevant to the period. Shouldn’t it read
“Strike were the fastest growing estate agent brand in the UK in Q3 2021 vs Q3 2020 – however the information may not be currently correct.” ?
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This fastest growing nonsense is just laughable. Yes their portfolio has grown, free listings might just do that, but where is any sign of a profit? Just cannot see how this can possibly still be about in a while when their cash burn must be atrocious.
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Yet another horrible business model. Naive and unsuspecting clients sucked in by the ‘sell for free’ headline only to over pay for questionable add on ‘services’ and inducements from third parties in return for big fat “referral fees!” And they call themselves estate agents. An utter disgrace – shameful and embarrassing even.
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