Knight Frank has launched a new affiliated estate agency model that allows self-employed agents to work under its own brand while working independently.
The model is designed to expand residential sales coverage to areas outside the company’s existing high street office locations, without opening new physical branches.
Agents in the network will operate from existing Knight Frank offices as well as in defined areas. They will be responsible for formulating instructions, managing client relationships and building their own business pipeline, with operational and regulatory support provided by the company.
Agents will earn commission on sales and may also receive additional fees for referring clients to other services in Knight Frank’s residential and commercial divisions in the UK and internationally.
Tim Hyatt, Knight Frank’s head of residential, commented: “This client-led strategy extends our reach into areas where we can expand our sales coverage, and where we know there is clear demand for Knight Frank’s services. In each of our initial target markets, for the first time, clients will benefit from the expertise and assurance of the Knight Frank brand and its global network.
“In addition to our existing patch, our brokers will be self-employed, giving them control over their own diary, clients and transactions, with real scale and high levels of earnings. We are committed to empowering exceptional talent to grow individual brands backed by the credibility, reach and expertise of Knight Frank.
Knight Frank has identified 36 markets for potential expansion. Early London areas included Ealing, Totteridge, Barnes and Putney, Brook Green and Shepherd’s Bush, and Crouch End and Muswell Hill. Its Canary Wharf office will be reestablished as a City and East London hub, covering areas including Canary Wharf, Wapping, Shoreditch, Tower Bridge and Southbank.
Rory Penn, Head of London Sales at Knight Frank, said: “This is an opportunity to grow our sales business to meet client demand, leveraging the exceptional operating platform we have built over the last few years. We are talking to experienced, professional and entrepreneurial agents who are looking for freedom combined with the benefits of working with a leading global brand. Knight Frank will provide brokers with high-quality marketing content, leading technology and CRM systems to set up and grow their own businesses. will be based on the strategic brand and operational support required.”