First two agencies join new self-employed ‘brokerag...

Two agencies have today joined eXp UK, the platform which now wants existing branch-based firm to convert to its self employed ‘umbrella model’.

The model wants traditional high street agencies with an employed workforce to become eXp partner businesses - and that’s what Mackays and Billingham & Co have done.

Mackays is a single office agency in Sawbridgeworth, Hertfordshire, founded and owned by high profile agent, Adam Mackay; and Billingham & Co is an estate agency business in the Midlands

eXp UK says it’s also had “dozens more enquiries from reputable high street estate agency businesses” - although these have not been named.

Head of eXp UK, Adam Day, comments: “We’ve already pioneered the introduction and growth of the supported self-employed model within the UK property sector and this has been incredibly successful in its own right. Our brokerage model is simply an evolutionary step in this process and one that offers further choice, flexibility and opportunity to agents in what is both a challenging and competitive market.

“We’re delighted to welcome Mackays and Billingham & Co to the eXp UK family and look forward to supporting them along their journey as the UK’s first brokerage style agents, as we continue to change the face of the sector and how we work within it.”

Adam Mackay says: “I’m super excited for Mackay Property to be the first business to join eXp. Fourteen years ago, when I started Mackay Property, my goal was to create a team of driven, passionate and proud agents. My vision was to really make a positive impact and help change the industry for the better. I feel this is the perfect partnership to bring that vision to life. I am overjoyed to be in a position to extend that positive impact to other agents throughout the industry.”

While Matt Billingham of Billingham & Co states: “This new relationship will supercharge our marketing, brand, and presence and free our team of agents to focus solely on our clients without having to worry about bureaucracy. The support and responsiveness of our new extended team at eXp has been world-class, and we look forward to demonstrating our new brand power in 2024”.

Last week eXp UK announced that it has passed the 500 agent milestone - individual self employed agents joining the brand. Last week it also launched the brokerage model for agency businesses.

eXp UK allows individuals to trade with their own name alongside the eXp brand and charges agents up to 30 per cent of the commission they generate, and in return offer a business support package.

In 2022 eXp UK launched its referral network allowing eXp agents to introduce potential sellers to each other on a national scale – an initiative that the firm says generated an estimated 1.2m in potential commissions being referred from one eXp agent to another.