Our competitive advantage
Our success is built on delivering exceptional results for vendors and landlords. Foxtons unique culture means our people are both expert and committed to excelling for our customers. Investment in data and technology enables us to help our customers unlock the value of their property.
The most recognised single brand with unique network effect
Foxtons is a leading London brand. Built up over 30 years, it has the most unprompted awareness of all London’s estate agents. This drives commercial advantages in the form of the highest market share of sales and lettings listings on the aggregators and through Foxtons.co.uk which receives over 10 million visits per year. The brand enables us to maximise the benefits of our branch network meaning over one quarter of properties are rented or sold to customers who transacted through a branch they did not initially register with, giving clients access to a much wider area and choice of properties than is the case with our competitors.
The Group’s substantial long-term investment in centralised work groups, business process engineering, technology and data has created a highly focused and scalable business, delivering unparalleled levels of productivity and customer service. This centralised approach also delivers significant operational leverage, enabling the Group to expand at relatively low cost
Innovative application of technology driving service and efficiency
The Group has sophisticated workflow systems, web applications and content-rich information databases underpinning every aspect of its business model. These systems enable our internal departments to work efficiently and cohesively, to deliver exceptional levels of service and productivity and have been a key driver in reducing average branch costs. The Group uses its data, strong single brand, and digital marketing technology to lower the cost of customer acquisition and deliver higher service levels than competitors.
In addition, Foxtons continues to invest in commercial web-based applications which are internally developed and maintained. The online portal My Foxtons has received a very positive response and strong uptake from customers – 89% of landlords now conduct their rental transactions on My Foxtons
Culture and people
Foxtons people are highly motivated to deliver exceptional results for customers.A wide range of incentives ensure that outstanding personal and team results are rewarded and recognised across the Group. Foxtons prides itself on its meritocratic culture, recruiting high potential candidates and providing a path to leadership positions.Where possible we develop and promote sales people from within to ensure our best people progress into positions where they have the greatest impact on our customers. This also ensures loyalty to the Group – the average tenure of our most senior sales directors is nearly 15 years. Our training and development goal is to create the finest estate agents in the industry with a clear focus on professionalism, integrity and a strong work ethic.
Integrated mortgage broker and conveyancing service
Our mortgage broker, Alexander Hall, and conveyancing service provide a seamless, 'one stop shop' for our customers as well as benefitting from low cost sales leads from the estate agency business.
Both have the potential to grow as the property sales market recovers.