JLL has appointed Nick Charnock as head of residential digital agency, EMEA.
According to the firm, the new role, based in London, will offer innovative technology solutions to residential property clients.
'The way people buy, sell and rent property is changing. We want to be at the forefront of the digital agency revolution to offer clients new, innovative solutions to support and reflect this change,' said Andrew Frost, head of residential, UK and EMEA, JLL.
'In Nick we have the right person to lead this team across Europe; his experience and insight will be valuable to colleagues and clients alike as we continue to drive our residential business forward.'
Charnock will focus on developing JLL’s residential digital products business across the EMEA region. He joins the firm from UK-based online estate agency Tepilo, where he spent two years as CEO. Prior to that he held senior roles at another hybrid estate agency, combining technology and people.
'Technology and data are making their mark across all areas of real estate and residential is no exception,' said Charnock. 'It is great to be joining JLL at a time when it is putting so much emphasis on using technology to improve client experience and outcomes. I look forward to working with clients and colleagues to expand the JLL platform as the sector develops and matures.'
The appointment follows other recent hires at JLL in the tech space, including Vinay Goel as global chief product officer from Google in July and the launch of JLL Spark’s $100m global venture fund in June.
Changing business models
According to a report in the September issue of PropertyEU Magazine, the slowing UK residential market is putting pressure on many estate agents to cut costs, driving companies to look at online and hybrid business models with reduced office overheads and fewer car fleets.
Established property services group Countrywide saw its shares collapse in August, but even hybrid player Rightmove has seen its share price waver. According to analyst Peel Hunt, increased competition in the hybrid space from firms such as Purplebricks is squeezing margins, while an impending lettings fee ban on agents is likely to further compound the crisis.