Another agency has announced its transition to an Employee Ownership Trust (EOT) – the second in as many weeks.

An EOT is defined as a special entity which holds shares on behalf of the employees of a given company. It also offers significant tax advantages.

Last week it was the large regional firm Kivells – now it’s the smaller family owned Jigsaw, which says the move recognises the loyalty and dedication of the team that has helped shape the business while securing its long-term future as an independent, locally owned agency.

Jigsaw began in 2001 when Sandra Widdrington established a lettings operation in North Yorkshire. In 2014, with her daughter Sharon Northcott, she launched Jigsaw Move, introducing residential sales.

Along with Sandra’s husband and business partner Davy Northcott, the firm has chosen employee ownership rather than selling the business to an external buyer.

A statement from the company says: “The move to an Employee Ownership Trust ensures that Jigsaw remains independent while rewarding the employees whose commitment, professionalism and loyalty have been instrumental in the company’s success.”

And Sharon Northcott comments: “This business has always been about people. From the very beginning, we’ve been incredibly fortunate to have a team who have stood by us, supported our vision and consistently gone above and beyond for our clients.

“Many of our team have been with us for years, helping us grow the business and build the reputation we have today. We wanted to recognise that loyalty and commitment. Becoming employee-owned is our way of giving something back to the people who have helped build Jigsaw into the business it is today.

“This isn’t about stepping away. Davy and I remain heavily involved in the business, and our clients will continue to see the same familiar faces. I’ll also remain with Jigsaw as a consultant for many years to come because this business, our team and our clients mean so much to us.”