James Caan-backed agent Ivy Gate to expand into America
Friday, December 4, 2015
British hybrid estate agency Ivy Gate is expanding into America.
Should it succeed in cracking the American market, Ivy Gate could prove a first following unsuccessful attempts by other UK agents, including Foxtons.
Ivy Gate, based in south-west London, was launched two years ago by Jason Tebb, Stuart Ripley and Matt Martin, who had previously been high-fliers with Your Move.
The business is backed by former Dragon James Caan.
The plan is to launch in Florida and then develop the brand by franchising right across the USA, where the residential real estate market is valued at over $30 trillion.
The move is being led by former UK estate agent Phil Steed who, via a licensing deal, has been appointed director of Ivy Gate USA, and whose Florida business will re-brand to Ivy Gate
Steed said: “My love of real estate dates back to 2003 when I opened my UK estate agency office in west London; my love of the US comes from having worked for a US-based multi-national company and owning property in Florida for some 15 years.
“I’ve travelled the States widely and now consider it my home.
“Just over a year ago I realised a dream to open a real estate business in Florida and during the planning process I was asked to join Coldwell Banker.
“However, I decided to stay independent because I wanted to build a company that treated clients and realtors differently and was able to innovate in an industry that was very predictable.
“I am delighted to be joining Ivy Gate and be responsible for growing their brand across the US. This might appear at odds with my initial objectives but it isn’t.
“In talking to Jason Tebb and Gary Winter [Ivy Gate’s franchising director] it was clear that we shared the same vision, the same aspirations and the same goals. It immediately made sense to look at working together.”
Tebb said: “I’m immensely proud and excited as we embark on this new chapter of the Ivy Gate journey.”
He revealed that Ivy Gate is talking to two other potential international partners, while there are 12 individuals in the UK who are at the business plan and financing stage to open Ivy Gate franchises.
Tebb said he hopes the first one will be open by the end of the first half of next year.
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