CubbyHole cuts out agents with £60pw commission-free property sales
CubbyHole, a new property advertising website launched this month, will allow homeowners to advertise their properties for just £60 a week, cutting estate agents from the process. The start-up, which does not charge a commission for property sales, currently employs 23 people and plans to triple its employee base after setting up an evening and weekend call centre. 72% of the company's expected profit will be funnelled back into marketing after an initial spend of £2m on its first media campaign which included ads in magazines and tube stations, and on television and radio stations.

A new website is aiming to disrupt the property market by cutting out estate agents and allowing homeowners to advertise their properties for just £60 a week.

CubbyHole was launched this month by serial entrepreneur Peter Lampe, who has set up the company at Discovery Park in Sandwich.

Unlike other online and bricks and mortar estate agents, the website does not charge any commission when properties are sold and acts as a do-it-yourself guide for people trying to sell their home.

CubbyHole has launched a £2 million marketing campaign

The company employs 23 people and aims to hire another 30 to 40 over the next few months as it sets up an evening and weekend call centre.

Mr Lampe, whose background is in marketing and communications, has spent the last year developing a public relations campaign for the business.

It is spending £2 million on an initial media campaign, with 72% of its expected profit to be put back into marketing.

Its advertisements will be seen at tube stations and in magazines and radio stations, as well as a selection of Sky channels over Christmas.

CubbyHole chief executive Peter Lampe

Alongside its property search, the website has a variety of features including the Find a Pro section, which advertises a list of services and trades in the user’s search area.

There is a also a Useful Tips category for questions about how to conduct a viewing and a checklist counting down to the customer’s moving day.

Mr Lampe, who also has business ventures in the drinks and software industry, said: “Our clear and easy to use website allows you to browse the property market from the comfort of your own home or on the go.

“CubbyHole provides a quality service and concept to guarantee success at reasonable costs, allowing you to be the estate agent you always knew you could be.”