by LAUREN CODLING
A NINETEEN-YEAR-OLD who founded an online property agency worth £12 million has
said he wants his business to become the “most loved estate agency” in the country.
Akshay Ruparelia is the founder of Doorsteps, an online estate agency ranked as the 14th largest estate agent firm in the UK in their first year of trade.
Now one of the UK’s youngest millionaires, the mogul sold his first house while he was taking his A-Level exams.
The London-born entrepreneur admitted the idea of the business did not come to him
overnight, but said it was a combination of his experiences of moving houses as a young boy as well as having a “vague” interest in property and a “clear” interest in technology.
Known for its “affordable” prices and “excellent” customer services, according to various
customer reviews, Ruparelia said he was aware that estate agents were disliked by consumers as they stereotypically have high charges and poor services.
“I thought, okay let’s go and be the most loved estate agents in the UK,” he told Eastern Eye. “I know that’s a big statement to make, but stereotypically, because [estate agents] are so hated, we want to come in and change a perception to the complete opposite.
“I think that’s how you change an industry.” The firm is notable for its low £99 commission charge, in comparison to the average 2-3 per cent commission most property agents apply to a sale, which can cost as much as £1000.
Asked why Doorsteps achieved success in such a short period of time, Ruparelia said: “The market needed shaking up and it still does. We aren’t the first online estate agents, but we have said we will provide this service for £99 and [we provide] a bigger service than [other online estate agents] and the high street.
“We are that step further. We are the progress and the improvement.” The teenager said although initially “[investors and clients] naturally had fears” regarding his age, his youth has several advantages in terms of his business.
“I don’t have the previous baggage of an estate agent who has perhaps worked for 20 years and then started their own agency and has the same culture and mindset of a typical estate agent,” he said. “I’ve got a completely fresh approach.”
Today, there are around seven employees who work in his office, as well as the local and freelance workforces. Ruparelia hopes to hire up to around 100 individuals within his local workforce by next year.
In terms of hiring staff for the firm, Ruparelia refers to his so-called “Mum’s Army”. “We interviewed a range of people across the country, but what we found is that mum’s work out best,” he said. “Mum’s tend to be trustworthy and have integrity – they aren’t your typical estate agent in a suit, trying to rip you off.
“They’re really special, in terms of our local workforce. Besides his uncle who used to
work in business, and who Ruparelia’s cites as one of his role models and mentors, the trade does not run in the young tycoon’s family.
As a boy, Ruparelia cared for his father Kaushik and mother Renuka, who are both deaf. He
still lives with his parents today in Harrow, north-west London.
“Having that experience [of being a young carer] means you must experience a level of maturity and become acclimatised to that level of responsibility,” he explained. “It gives you that maturity to deal with things throughout your life.
“That maturity and responsibility from such a young age has given me more confidence.”
When asked about his average day, Ruparelia’s routine is busy. Starting the day at 6:30am (and making sure he makes some time for meditation before he leaves for work), he usually doesn’t come home from the office until 6 or 7pm, before spending more
time checking his emails and ensuring everything is in check.
“I don’t have much free time,” he laughed. “But I love what I do.”
The businessman was offered a place at Oxford University to study economics but said he
would be “crazy” to focus on anything else besides Doorsteps at the moment.
“Having that said that, maybe five or ten years down the line, I would like to experience university,” he said. “Not just the degree, but to learn and have that experience and feel like I’ve done it and enjoyed it.”
