Trevor Kearney has launched his own luxury estate agency brand, six months after leaving Savills.
Kearney, a former senior director at Savills, has unveiled his own luxury agency venture called The Private Office: Real Estate, with a view to overhauling what he descries as an “outdated” agency commission structure.
The estate agent, who also worked at Knight Frank, will use his decades of experience with a US-style property brokerage model.
The Private Office: Real Estate is providing agents with commission of up to 50% of billings earned on sales, compared to the industry average of roughly 9%.
Kearney said: “The traditional agency model is outdated and has failed to modernise in line with today’s agile, sophisticated clientele. Commission structures at the large incumbent real estate firms are unfair on agents and the profit goes directly into the business’ bottom line. At the same time, clients are not listened to or dealt with in the right way.
“We will change that. Our stated offer to those who work with us and who we work for is: ‘Experience the Exquisite’ – and that’s what we will deliver. We are a people-first business, passionate about super prime and helping our clients realise their dreams and achieve their objectives.
“The Private Office’s more attractive payment structures, breaking the mould which other agencies simply cannot achieve due to rigid corporate structures.
“My aim and that of my colleagues is to have the UK’s very best agents working with us, nurturing and promoting entrepreneurial spirit all with an unwavering commitment to wanting to sell the world’s best homes and benefit the industry at the same time.”
Launching with a team of nine with its HQ in Guildford, Surrey, the agency also offers a dedicated Sport and Entertainment business arm, an elite service for clients across both industries which offers absolute discretion and privacy for vendors and clients. Completing the offering, The Private Office has crafted a full lifestyle management business to support its clients.
As part of its group, it is launching a stand alone business – The Private Office: Protect – to provide the ultimate service for the agency’s ultra-high net worth individual (UHNWI) clients, giving high-end advice and solutions through gold standard approach.
With more than 20 years in the super prime homes market, Kearney says that he has sold more than £5bn worth of property throughout his career, including some of the UK’s most valuable homes, and set price-point records within the world of super prime real estate.
He added: “Today we are launching a new breed of agency, one which I would’ve left my old position for and which the industry needs. We know there is already a buzz around our initiative in the sector. It is beyond ready for a fresh approach to buying and selling super prime; one that gives autonomy to its agents. We see the talent we will be bringing in as the stars of the business.
“The UK is arguably the most exciting country for super prime properties. We should be proud of that but not complacent. I am a great believer in the role super prime and property in general plays in the country’s prosperity. The market is attractive and we’re already working on listings on some of the best real estate the UK has to offer. I can’t wait to build this team even further and see what we can collectively achieve.”