ACQUISITION SERVICES SUPPLIER OF THE YEAR
The Boom Podcast is all about sharing the real experiences of estate and letting agency owners who have built and sold their businesses.
Hosted by Lucy Noonan, founder of Atomic Consultancy, the series explores the journeys behind the deals, the lessons learned along the way, and what life looks like after selling a business.
Episodes 1, 2, 3 and 4 are already available to watch on YouTube, featuring agency owners who have shared their own stories of building, growing and exiting their businesses.
In Episode 5, Lucy sits down with Lawrence Copeland, former owner of Lawrence Copeland Estate Agents in Manchester, who recently sold his long-established estate and lettings business after more than two decades.
Lawrence shares the full story of his career, from starting as an apprentice at 18 to building his own independent agency, adapting through market changes and ultimately deciding it was the right time to step away.
The conversation offers valuable estate agency help and advice for anyone considering selling an estate agency business.
Lawrence Copeland’s Journey Into Estate Agency
Like many in the industry, Lawrence did not begin his career expecting to one day own his own agency.
He started as an apprentice estate agent at just 18 years old, working for a surveying firm in Greater Manchester.
“I joined as an apprentice when I was 18 after finishing college and stayed there for five years.”
During the following years, he worked across a number of estate agency offices while the industry itself was going through major change. Large corporations were acquiring regional firms and rebranding them, creating a very different working environment.
Lawrence experienced several of these transitions firsthand.
“Burlings got consumed by Lloyds, Morrison’s got consumed by Halifax and I was then working for Black Horse agencies.”
While he continued to run branches successfully, the increasingly corporate structure eventually pushed him to consider a different path.
“I remember the day they said you won’t need a secretary anymore. That was a big change for me. It was all becoming too corporate.”
That moment planted the seed that one day he might want to run his own business.
Building an Independent Manchester Estate Agency
In 2002, Lawrence decided to take the leap and launch his own independent estate agency.
Using a family company structure that had existed since the 1970s, he opened his first office in Manchester city centre.
“I launched my own office right in the heart of the city centre on Brasenose Street, just off Albert Square.”
At the time, the city centre market was very different from today. There were far fewer residents and only a handful of estate agents operating in the area.
Over the following years, Manchester grew rapidly and Lawrence built a strong reputation for his agency, developing a loyal client base and a respected name in the local property market.
A key factor in the business’s success was the stability of the team.
Some staff members stayed with Lawrence for decades.
“They weren’t just team members. They became friends. We had ups and downs but we worked together as a team.”
This culture of loyalty and collaboration helped the business navigate both growth and difficult periods.
Adapting the Business Through Market Changes
Like many estate agencies, Lawrence’s business faced significant challenges during the 2008 financial crisis.
The recession forced him to rethink the traditional high street model and look for ways to reduce overheads while maintaining service.
“It was five years of an absolute nightmare during the recession.”
Rather than continue with an expensive city centre shopfront, Lawrence moved the business to Salford Quays and operated without a traditional retail presence.
Looking back, he believes that decision was the right one.
“Looking back at it now, it was the best thing I did.”
By focusing on reputation, relationships and local knowledge rather than a physical storefront, the business continued to thrive.
This adaptability ultimately helped position the agency strongly when it came time to consider an exit.
Preparing the Business for Sale
After more than 20 years running his own agency, Lawrence began thinking seriously about retirement.
He had already made several life decisions that aligned with a potential exit, including selling property assets and preparing for a lifestyle change with his wife, Liz.
“The final key was selling the business and starting a completely new life.”
Like many agency owners, he had received approaches over the years from companies interested in acquiring the business. But the timing was never right.
Eventually, Lawrence discovered Atomic Consultancy after receiving marketing material and later attending a Propertymark CPD event where Lucy Noonan was speaking about selling estate agency businesses.
“I went to the Propertymark seminar where Lucy was speaking about selling businesses and that’s when I decided to move forward.”
The presentation gave him confidence that using a specialist broker was the right approach.
The Experience of Selling an Estate Agency Business
Once the business was prepared and brought to market, there was strong buyer interest.
This created a competitive process and multiple offers, which allowed Atomic to negotiate a deal above the guide price.
Lucy explains during the podcast:
“We generated significant interest in the business which allowed us to secure a fantastic deal.”
For Lawrence, the process was both exciting and daunting.
“I had never sold a business before and I had heard horror stories about how difficult it could be.”
One of his biggest concerns was confidentiality, particularly protecting his staff during the process.
“The biggest worry for me was that my staff mustn’t know.”
Working with Atomic and an experienced solicitor helped ensure the process was managed carefully and professionally.
Having the right team around him proved crucial.
“It was a weight off my shoulders having Atomic and the solicitor there to guide everything.”
Life After Selling an Estate Agency
Completion day itself was emotional.
Lawrence was still conducting property viewings on the day the deal completed, demonstrating just how involved he remained in the business right until the end.
“It was quite stressful but we got there.”
Since stepping away from the business, Lawrence has been adjusting to retirement and enjoying a very different pace of life.
Family time now takes priority, including spending time with grandchildren and helping his mother.
He has also taken on a new responsibility in retirement.
Caring for two alpacas named Dingo and Deck.
“They keep us very busy and they’ve become part of my daily routine.”
While the transition from a busy working life takes time, Lawrence is embracing the change and enjoying the freedom it brings.
Advice for Estate and Letting Agency Owners
During the podcast, Lawrence shared a clear message for other agency owners considering selling their business.
Do not try to manage the sale yourself.
“I think you should 100 percent go through a broker. There are thousands of pounds you could lose if you try to do it yourself.”
Having experienced professionals involved ensures the business is presented correctly, buyers are managed effectively and negotiations achieve the best outcome.
For Lawrence, working with a specialist broker was a key factor in the successful sale.
Watch the Full Boom Podcast Episode
Lawrence Copeland’s story is a powerful example of what it looks like to build a successful estate agency business and exit on your own terms.
Boom Podcast Episodes 1, 2, 3 and 4 are already available to watch on YouTube, each sharing real seller experiences from across the industry.
You can watch the full conversation with Lawrence Copeland now to hear his story in detail.
If you are thinking about selling an estate agency business, planning an exit in the coming years, or simply exploring your options, Atomic Consultancy is here to help.
Speak to the team today for confidential advice on preparing your estate agency for sale or start with a free quick online business valuation.