Last week, the firm announced that its entire estate agency network will become franchises.
LSL currently has a network of 183 owned branches, with agreements already reached for 143 branches. The firm said that discussions over agreements with the remaining 40 branches are “at an advanced stage”.
These will run alongside the existing network of 120 franchise branches.
LSL said that the move would allow it to operate with a “significantly smaller fixed cost base”, while still distributing related products and services such as financial services.
Paul Hardy has been appointed managing director of its estate agency franchise business, having previously worked as the financial services division commercial director and estate agency division finance director.
The restructure comes just weeks after LSL confirmed the sale of its final two mortgage, protection and general insurance broker firms to Pivotal Growth.
A spokesperson for LSL said that around 30 jobs are likely to go as part of the transfer to franchises.
They said: “As part of the restructure, there will be some functions with reduced headcount. Our priority is to speak to these people first, and where possible find alternative work within the group.
“At this stage, we think there may be around 30 redundancies in the near future. We will continue to evaluate the services being provided to franchisees thereafter, but our expectation is that over 90 per cent of estate agency colleagues will remain working at LSL or in the franchise network.”
