LSL Property Services will cut the total number of Your Move and Reeds Rains branches by 124, from 404 to 280, LSL has announced.
The group said 81 neighbouring branches will be closed or merged, 40 will be franchised, while 43 will be closed.
Some 144 branches will become ‘keystone’ branches, which will have larger teams of dedicated experts in residential sales, lettings and financial services roles than the average Your Move and Reeds Rains branches have in place today. These will be branded as either Your Move or Reeds Rains.
LSL said: “We continue to believe that traditional estate agents will represent the substantial majority of the residential sales and lettings markets for the foreseeable future and that our estate agency branches will continue to remain core to providing the service our customers expect.
“The changes we are announcing today will better position Your Move and Reeds Rains as two leading estate agency brands in the UK. We will continue to support these branches and our people to maintain their brand presence and well-established local market positions in the future.
“Our ambition is for the keystone branches to be centres of excellent customer service, great places to work and efficiently run and supported.
“The ambition for these keystone branches is to create a platform that will benefit from their larger scale, enabling us to invest in people and technology with the aim of providing enhanced levels of service to our customers whilst ensuring operational performance is optimised by competing more effectively in local markets.
“Our commitment to a new platform and investment in enhanced technology is intended to give these Your Move and Reeds Rains branches the opportunity to cover a wider geography and benefit from further scale.”