Foxtons
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Foxtons is a London and Surrey estate agent with 23 offices, dealing with both lettings and sales. It was founded by Jon Hunt in 1981 and was acquired by private equity firm BC Partners in 2007 for £390m. [1] [2]
| Foxtons | |
|---|---|
| Type | Private |
| Founded | 1981 |
| Headquarters | London, United Kingdom |
| Industry | Estate agent, Real Estate |
| Website | www.foxtons.co.uk |
Contents |
[edit] History
Foxtons was founded in 1981 in Notting Hill Gate, London, as a two-person estate agency.
In 1982/3 Foxtons introduced 12 hour a day opening hours, it also used a "0% commission" offer to launch it's second office in Fulham Broadway.
In early 2001 Foxtons opened its headquarters in Chiswick, West London. 2001 also saw the launch of the first branded Foxtons Minis.
In 2002 Foxtons launched the first café-style offices in Ealing, Richmond, Balham and Wimbledon.
In November 2007 Foxtons opened its 23rd office in Pinner, North London.
[edit] Trade bodies
Foxtons is a member of the Ombudsman for Estate Agents [3] [4] [5] [6] and the The National Approved Letting Scheme [7] [8] as well as Tenancy Deposit Protection Scheme [9]
[edit] Foxtons USA
Foxtons North America, was a subsidiary of Foxtons in New York and has now filed for Chapter 11 bankruptcy.[10] According to Foxton's own website, it is no longer engaged in the listing of homes in the United States.
[edit] Criticisms
It is known for its high fees for rentals[11] and have resulted in an injunction from the Office of Fair Trading due to the alleged use of unfair terms in their letting contracts.[12]
They have been accused of having the "avowed intent" to "drive up house prices".[13]
In March 2006 the BBC launched an investigation called "Whistleblower" accusing estate agents prominently including Foxtons of "lying to customers, faked signatures, false passports and dodgy deals with developers".[14]
In January 2008 they were criticised for their staff launching "a barrage of vicious and personal attacks" against residents of Balham via the website of a local newspaper.[15]
The British anarchist group Class War have announced a week of action starting on 3 March 2008 against Foxtons in protest of their perceived role in the gentrification of previously working class areas.[16][17]
[edit] References
- ^ Foxtons puts up ‘Sold’ sign as BC Partners steps in for £390m
- ^ BC Partners buys Foxtons in 390 mln stg deal
- ^ OEA Press release
- ^ Delight as Foxton's joins ombudsman scheme
- ^ Estate agent ombudsman enlists Foxtons
- ^ Hamer’s delight at major coup as Foxtons join Ombudsman Scheme
- ^ Foxtons signs up to the national approved letting scheme
- ^ Foxtons Business Development News
- ^ New deposit scheme a postive step for UK lettings market
- ^ US Foxtons files for bankruptcy, Ben Bland, Daily Telegraph, 08/10/2007
- ^ Rental wrongs - BBC Watchdog, 9 January 2008
- ^ OFT acts against 'unfair' Foxtons, BBC Website], 26 Feb 2008
- ^ Foxtons! No! Bang goes the neighbourhood
- ^ The secret agent, by Anna Adams, BBC, 21 March 2006
- ^ Estate agents posed online to insult residents, by Andrew Alderson, Daily Telegraph, 19/01/2008
- ^ lling All Graffiti Artists It's time to F**k-A-Foxtons
- ^ YOUR MUM WORKS FOR FOXTONS - Class War Youth blog
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