Silk Property launches new Estate Agency model in Macclesfield
Simeon Rains approached Enterprising Macclesfield with a new concept for launching an Estate Agency business in the local area. Simeon has a rich history in estate agency where his ancestors established an estate agency business in 1868. This business subsequently merged with Reeds Petty to become Reeds Rains. In his 30 years in the industry Simeon has witnessed significant change in the sector in staffing (more junior), acquisitions of independents, the focus on selling ancillary services (mortgages etc) and the shift to online marketing (rightmove, zoopla etc).
Simeon’s concept was to marry online estate agency with the traditional model without the overhead of retail space. This cost saving could be passed onto customers and enable Silk Properties to deliver an outstanding and complete service for half the cost of a traditional estate agency.
Enterprising Macclesfield met Simeon to develop an understanding of his business idea, to identify his goals for the business and to establish the key areas where he needed support. Due to his depth of knowledge and experience of the estate agency market, Simeon was able to identify the challenges and opportunities involved in launching this new business model. One of the key areas of value which Enterprising Macclesfield focused on was acting as a sounding board for the viability of Simeon’s business model. In addition, Enterprising Macclesfield provided a highly experienced coach, Simon Hayward from Cirrus Connect, to provide coaching support around establishing the business plan and operating model needed in order for the business to deliver a low cost base and be operationally successful.
Silk Property was launched in Spring 2016 and hasn’t even celebrated its first birthday – to date Silk Property has secured over 95 sales instructions on residential properties across the area and has successfully sold many of these on behalf of the vendors. Simeon’s success can be witnessed by the amount of For Sale boards across the local area and his increased ranking as one of the most successful estate agents based on property sales and new instructions. The business is already expanding, building a core Macclesfield team and the early success couldn’t be highlighted better than the Silk Property team growing from one, to four full time members within a year. Simeon is set to reengage with Enterprising Macclesfield to help with the planning for his next stage of growth.
“I was impressed by the calibre of the team I met through Enterprising Macclesfield. They provided a really valuable sounding board which gave me the confidence to press on with our plans and provide the local area with a refreshing and cost effective alternative to the current old-style estate agency market.”