The troubled online agency Yopa is introducing a broker-style business model to try to win agents.
Few solid details have been made available but Yopa’s so-called ‘associate model’ claims to have “some of the most competitive and transparent” financial incentives without associates building a substantial team of others.
Associates will set their own fees within a no-sale no-fee offering, so-called “flexible options” for agents moving over to it, and “full support” from the centre “providing guidance, resources, and support to help them succeed on their self-employed journey.”
Whereas Yopa currently uses a postcode allocation for its franchisees, associates can operate in any postcode.
A statement from the agency says: “The Yopa Associate Model can be sponsored by existing Yopa Franchise Owners, who will mentor and support Associates as they take this significant step towards a more empowered future in estate agency.”
It confidently says: “Yopa has pioneered self-employment in estate agency for over eight years, and the firm has learned a thing or two along the way.”
Recent results posted for Yopa suggest it has yet to make a profit, with the company making a loss of £3.7m in the most recent trading year: revenue fell from £15.68m 12 months earlier to £12.79m. Back in 2018 it was reported to have made losses of £33.05m the business lost in 2018.
