Property expert Lee Glassar is planning to revolutionise estate agency.
He has come up with a new model for the way estate agents work, which aims to create a “contract for services” approach as opposed to an employment contract.
He has been working on the initiative, called the Compliance Project, with accountancy partnership BDO Stoy Hayward and law firm Berwin Leighton Paisner.
It has been approved by the HM Revenue & Customs (HMRC), and Mr Glassar, 42, who has been involved in property for the past 22 years, believes the concept “will be huge”.
“The Compliance Project is based on how hairdressers work, renting chairs in salons. I wondered if it would be possible to do this with estate agents.
“There is no one else doing what we are doing,” says Mr Glassar, the managing director of Taylor Mac Solutions (TMS), the company launching the concept.
“The idea is that we convert existing employees to self-employed.” The negotiators/fee earners sign the TMS contract with the company owner and the new relationship begins.
The benefits? Saving on national insurance, book keeping costs, bank charges and employees getting a better cash flow and more freedom. Mr Glassar, the director of property company NW4, says: “We hope that this way of working will become ‘the norm’.”
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