HoC to trade as First Complete
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Appointed representatives of Home of Choice are now trading under the brand name First Complete, as a result of the takeover by LSL Property Services.
Gerry O’Brien, chief executive officer of the network says: “The business will be trading from today as First Complete for a period of time but we do have the option to use the Home of Choice name again.”
First Complete is a company currently owned by LSL and has Financial Services Authority authorisation.
O’Brien says the network has received “overwhelming” support from its ARs and it is delighted it has the backing of an organisation that understands brokers.
It is understood that ARs of the network will receive all of their commission owed and are able to trade from today under the new firm.
LSL Property Services confirmed on Friday that it had bought the assets of Home of Choice for £1.5m.
LSL Property Services owns the UK’s largest residential surveying operation and owns the UK’s second largest estate agency network, having recently acquired the Halifax estate agency operation. In 2009, LSL Property Services reported pre tax profits of £28.3m.
Readers' comments (5)
Paul Symonds | 10 May 2010 11:07 am
Having read with interest the comments made on this platform over the last few weeks I think it is time to applaud the Directors who have done an commendable job in bringing the company back from the brink and safeguarding the livelihoods of all of those who work under the old HOC banner.How many other companies would/could have done that. I know a lot of you have felt let down in the build up to this and the question of trust has been on the tip of everyones lips. I think it has been proven that the gentlemen of the board have now proven that they are in it for all of us and not just themselves as has been stated here and for me their integrity remains undoubted. I think HOC is now in a far stronger position to build the business which should fit hand in glove with the new owners and our continued support remains firmly warranted.I hope we can capitalise on this opportunity and I look forward to future developments. Well done Gerry and Richard.
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john higgins | 10 May 2010 11:35 am
with regard to Paul's comments above. The board have not done the best deal for the Ar's otherwise they would have gone with the TM offer. They didnt go with the TM offer as the board would have been sacked. When any company is bought out of administration someone somewhere will not be paid. Had the directors done such a great job the firm wouldn't have been in such a poor position in the first place.
Sounds like you should now apply to join the board!!
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Anonymous | 10 May 2010 1:13 pm
you forget abount the companies that were not allowed to go over and who have lost all pipeline and outstanding commission
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Anonymous | 10 May 2010 1:59 pm
Crack on writing business! Well done to the team that pulled this off. I hope LSL has not underestimated the urgency for capital investment in dragging the IT systems and website forward. The comment in the Media Relations of LSL website under Acquisitions would give they impression that the IT is great! Even G O'b admitted at one or more of his meeting last week, what we all new, that the existing systems are 5yrs out of date. Come on LSL we may have signed - now you need to convince us to stay!
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No Such Thing as a free pipeline | 10 May 2010 2:47 pm
To all of us who have no choice in signing. what are we signing. Why did LSL buy us. For our mortgage purchasing power. I liked the word independence, forget it now. Just like paymentshield !
Lets see if we still support GB and RC in 12 weeks time and if they are still around.
12 weeks thats is the same time as my current notice period but that can change too !
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