Nested's Launch Guide

This guide will help you set up with step-by-step instructions on what you need to get started. From registering your company to setting up your business bank account to joining the Property Ombudsman, this guide contains all the key information that you’ll need.

Access to the Nested platform costs £125+VAT per month, with an additional cost of £25+VAT for any other users you’d like to add to your system network.

If you have any questions or need a helping hand with anything, please don’t hesitate to let us know.

First steps

1) Set up a private limited company (if not already operating) - It costs £50 and your company is usually registered within 24 hours

• Set up a private limited company with Companies House
• You will receive a “Certificate of Incorporation” and your UTR number (unique taxpayer reference)
• Your company name must be customer-friendly and not include Nested in the name

2) Sign your Agent Agreement

• In order to issue your agreement, we’ll need to know your company name, company number, registered company address, your home address (if different) and whether or not you’re VAT registered. Please share this information with James via email
• Your agreement will be sent digitally via Yoti Sign
• If you would like to use the agent partner support loan, please send an email to hr@nested.com and we will send the documents over to you for signing.

3) Nested require you to complete a basic DBS check as part of our background checking. This costs £25 and it usually takes up to 14 days for you to receive your certificate.

You will need the following for your application:

• All of your addresses for the last five years and the dates you lived there
• Your National Insurance number
• Your passport
• Your driving license

4) Pay your Nested Launch Fee (£125+VAT)

• This will be paid via a platform called GoCardless, which is also the service we use to manage payments for your monthly Nested platform fee. The platform fee will be due from your commencement date and paid for by direct debit. Once you’ve signed your agreement, you’ll be sent a link to register.

Company set up

Below are all the actions you will need to take as part of setting up your estate agency business. You might have done some or all of these already.

1) Register with HMRC for money laundering supervision

• Costs £300 to register and a £40 approval process fee. This can take up to 45 days and may be longer if HMRC need to contact you for more information. This is one of the first things to do as you will not be able to start servicing leads with Nested until your application has been approved - Fees and how to register.

2) Open a business bank account

3) Get professional indemnity insurance

• You will need a limit of indemnity no less than £100,000 and an excess of no more than £1,000
• This is a requirement of your Property Ombudsman membership
• We arrange Nested’s cover through Mint Insurance Brokers, you can obtain a quote online through their portal using this link

4) Join the Property Ombudsman - It costs £262 + VAT per year and a £70 one-off joining fee

• The impartial and independent service for resolving disputes between consumers and property agents - this is a legal requirement
  Join TPO

5) Register with the ICO - Registering should take 15 minutes and for most organisations will cost £40 or £60

• The Information Commissioner’s Office. The independent authority upholding information rights.
  Register here

Once you have completed the above, please upload copies of the following via this link:

• Proof of your business bank account
• Certificate of professional indemnity insurance
• Proof of your Property Ombudsman membership and expiry date
• Proof of your ICO membership and expiry date
• Proof of your HMRC AML registration
• VAT registration evidence
• DBS certificate