Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property Industry Eye. Read the original article for full details.
Knight Frank Launches Affiliate Broker Expansion Amid Redundancy Talks
Knight Frank has confirmed it is holding a redundancy consultation affecting part of its UK workforce, while also announcing the expansion of its affiliate broker model and new appointments in London.
The agency told Property Industry Eye that a number of UK employees are involved in the consultation, but did not disclose how many roles are under review or which parts of the business are affected. It is understood that between 90 and 100 employees could be impacted.
Despite the ongoing consultation, Knight Frank is pressing ahead with its affiliate broker model, which allows self-employed brokers to operate independently under the Knight Frank brand. These brokers are responsible for winning instructions, managing client relationships, and building their own businesses, while receiving operational, compliance, and marketing support from Knight Frank. They can also earn referral fees by introducing clients to the company’s residential and commercial services across its international network.
The company has announced plans to make further key appointments as it expands into new London markets, including Putney, Totteridge, and Kingston. This growth is part of a wider strategy targeting 36 locations.
Knight Frank has named Simon Boulton, Mark Lee, and Mark Ruffell as its first affiliate brokers. Boulton and Lee previously worked from the Canary Wharf office, now the City & East London Hub, while Ruffell formerly led the Hyde Park and Southbank offices. The brokers have already completed several transactions under the new model, including the sale of a four-bedroom penthouse in Butler’s Wharf with a guide price of £6.25 million and a three-bedroom apartment in Casson Square guided at £6 million.
Knight Frank stated that the industry response to the affiliate broker model has been positive, with almost 100 enquiries from prospective affiliate brokers.
This development is relevant to UK letting agents and inventory clerks as it signals ongoing changes in agency structures and recruitment, alongside workforce adjustments.
Source: Property Industry Eye