Worldchoice to double as estate agents
Worldchoice is to follow Thomson by doubling as estate agents and selling overseas properties through its agency members.
The consortium will train up to 50 ‘Elite Agents’ and offer apartments and houses in Spain, France, Portugal, Florida, Cyprus, Bulgaria and the Caribbean.
Worldchoice vice chairman Keith Wilson said a deal with “one of the premier organisations in the overseas property market” should be signed by the end of the month.
“It will be an exclusive arrangement in the UK market,” he said.
He stressed the consortium had been discussing the plan well before Thomson entered the market.
“In an case, we have a greater spread of properties than Thomson will offer,” said Wilson.
Among the featured resorts will be Spain’s Costa del Sol and Costa Blanca, the Algarve, Cote d’Azur in France and the Dominican Republic and Bahamas.
As with Thomson, Wilson said Worldchoice agents will act as a referral service. Retailers who join the scheme will be given point of sale material, property window displays – similar to those found in an estate agent – and receive training.
Initially, the Elite members will be expected to sell six properties in the first year, rising to 12 in year two. They will be paid on a fee, rather than a commission basis.
“We don’t expect all agents to jump on board but the earnings potential is obvious,” said Wilson.
He added there will be additional revenue streams, claiming homeowners make an average of 16 visits each year to their overseas property.
Figures produced by Worlchoice revealed 500,000 UK citizens own property overseas which is expected to rise to 2.5 million in five years.
A further 55% of people want to own a property in the sun with 38% first time buyers considering buying overseas to get a foot on the property ladder.
“Of this potential, 66% don’t know where to find information,” said Wilson. “We can now help them.”
The move by Worldchoice further underlines the need for agents to diversify as the traditional holiday market becomes increasingly challenging.
Report by Steve Jones
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