Sales figures boost for SPS

PROPERTY SELLING: 50 member firms see big jump in number and value of deals done

The Solicitors Property Shop (SPS) is making slow but steady progress after an encouraging end-of-year report on its trading.

While there has been only gradual recruitment of firms to the SPS - which is now expanding out of its north-east heartland - the 50 firms which are members achieved a 73% increase in property sales to 1,030 during 2002.

The value of sales almost doubled to 76.8 million.

SPS has been dogged by problems since it was launched in 1998 by the hugely successful Edinburgh Solicitors Property Centre (ESPC).

Last year it changed its model, closing down both its flagship property display centre in Newcastle and property newspaper in favour of concentrating on individual firms' display centres and advertising in local newspapers.

However, property display centres were recently opened in Sheffield and Halifax, jointly funded by SPS and local firms.

In Darlington - the jewel in the SPS crown - the company relocated its regional operations to a combined retail and office unit in the town centre.

A group of SPS firms has also formed in Keighley.

SPS director John Pratt, managing partner of north-east firm Blackett Hart & Pratt, said: 'We had hoped, of course, for a faster take-up of the SPS proposition among practitioners.

That said, it is very heartening to see our original conviction borne out - those firms which did embrace SPS and property selling would profit by so doing.

'Our top-selling members, including my own firm, are now selling more than 100 properties a year.

My firm's revenue through sales commission alone topped 75,000 - comfortably covering costs.'

SPS chief executive Ron Smith said: 'As competition for the provision of legal services becomes

ever more acute, the potential for SPS to secure a safer future for Britain's conveyancing solicitors becomes even more significant.

SPS is working to put the solicitor firmly back at the heart of the property transaction.'

Despite this vote of confidence, the slow rate of growth has led to speculation that ESPC may decide to withdraw its financial support.

Simon Fairclough, ESPC's head of marketing, said: 'We have to reach a point in the medium term where we see SPS operations covering their costs.' He added that it was only reasonable that ESPC saw some return.

Neil Rose