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Foxtons to reopen estate agent branches from this week

New rules: Estate agents in St Johns Wood Terrace: Jeremy Selwyn
New rules: Estate agents in St Johns Wood Terrace: Jeremy Selwyn

Foxtons on Tuesday said it will start to reopen its London estate agency branches, with all set to be up and running again by June 1.

The chain, which was founded in Notting Hill Gate in 1981, closed sites in March when the lockdown came in. It furloughed around 750 people in March and it will now look to bring these employees back to work on a gradual basis.

Foxtons, known for its fleet of Mini Coopers, said “the safety and well-being of our employees and customers is of paramount importance to the company”.

Its sites will comply with government guidance, including on social distancing. Measures implemented in its branches include: social distancing procedures throughout; enhanced hygiene and office cleans; mandatory Covid-19 training for all employees to engage appropriately with customers.

Physical viewings and valuations will recommence under tightly controlled conditions with social distancing in place. Customers will be encouraged to view properties virtually in the first instance, and for any physical viewings to meet directly at the property.

There will be a restriction on the number of people attending viewings with participants only able to attend if they confirm in advance they are not infected or displaying symptoms of Covid-19.

The update comes around two weeks after the government eased restrictions on the sales and lettings market put into place in March. Estate agents’ offices can now open, as can show homes, and viewings are permitted. Previously people had been urged to avoid moving where possible during the lockdown.

Foxtons said it continued to support customers online and over the telephone since the lockdown period began. Commissions earned in the eight weeks between March 23 and May 15 were down 44% on the prior year.

Lettings commissions were 40% lower and sales commissions dropped 61%.

Foxtons, led by Nic Budden, today said: "It is still too early to predict what the full impact of the Covid-19 pandemic will be on Foxtons’ full year results. There remains significant uncertainty over how long the London residential sales and lettings market will continue to be impacted by the pandemic. Nonetheless, the board is pleased with the resilience that the business has shown given such a disruptive backdrop."

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