Estate agents are enjoying one of the most buoyant markets for years. We spoke to Michael Mortimer, managing director of Hive Estates, riding the crest of a wave while celebrating five years in business. He speaks about growth plans and market opportunities.
Tell us something about Hive Estates?
We are different. We were founded on the principles of transparency and efficiency and everything we do aims to make the market a better place for sellers and buyers. We are as far away from a traditional estate agent as you can get. In an industry notorious for poor service, we question the ‘copy and paste’ and ‘we’ve always done it this way’ approach and focus on providing a high-quality service that sells houses but most importantly – makes the customer happy and want to recommend us.
What sets Hive Estates apart from other agents?
The estate agency industry has been slow to adapt to 21st century consumers and new technology, and we are addressing that. There are a number of things we do differently. Firstly, our valuations are based on solid research and local knowledge and not plucked out of the air or inflated. Our communication with clients and home buyers, and those renting homes, is exceptional. Every phone call, voicemail or message is responded to quickly and dealt with proactively. We also have cutting-edge marketing for our properties, using videography and social media. I’d say our biggest differentiator is that we genuinely care about getting everything spot on, every time, no matter how big or small the property.
Where has the recent growth been for you?
In the past 12 months we have increased our turnover by 53% and grown our team from six to 11 people. The main catalyst for this has been our growth in the house sales side of the business. When we started out in 2016, we dealt predominantly in lettings but that has now shifted with a focus on house sales.
How do you see the overall market developing?
I don’t really do predictions. However, demand is very strong, house prices are still high, and we haven’t seen any signs of the boom slowing down just yet.
Can you outline some of your own growth plans?
We are the next generation of estate agency, and our expansion will stem from the innovative ways in which we invest in doing things better, whilst keeping up with the needs of a changing customer base. We work differently to how traditional estate agents operate, and as most of our clients are digital natives, we have adapted to that and continue to look for new and better ways to serve our clients. We have some exciting plans in the pipeline.
What have been your biggest challenges to date?
The housing market shutting down in April 2020 for the first lockdown was a very difficult time. We were faced with a choice of furloughing all our people and hiding from the storm or digging in and planning for the future for when the rainbow finally arrives. The uncertainty about the market was daunting but we decided to keep the majority of staff on the payroll, concentrate on what we could control working from home, and come up with a plan to get virtual viewings and valuations underway. It paid off because when the market reopened, we were the first out of the gates.
Career highlights to date?
Walking into our newly designed office in Sandyford on our launch night, was a moment I’ll never forget. What made it even more special was that my grandparents were able to come. I’d also say being able to build a close team and breed a culture of togetherness and family is an aspect of the business I cherish.
How do you relax out of work?
My cavapoo puppy, Sonny, is the best thing in my life right now and he joins me and the team in the office everyday. I like to eat out and relax with friends. My favourite restaurants at the moment are The Patricia in Jesmond, and Aidan’s Kitchen in Sandyford for the unbelievable brunches.
