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.