High Street Agents to Lose Market Share to Hybrid Agents
As home buyers now do the majority of their searching online, there is no longer the need to pay huge estate agents fees and as a result competition in UK estate agency is increasing, with the emerging market dynamic favouring online estate agents. A City analyst has recently said that the UK’s largest High Street estate agent, Countrywide, will lose market share to hybrid competitors this year. Hybrid agents are online estate agents, like Edward Giles, who also offer more traditional accompanied viewings.
According to this analyst, this change is not just confined to Countrywide but is industry-wide. At Edward Giles we fully embrace the online estate agents’ movement that is taking a stand against excessive High Street Agents’ fees. With buyers now searching online there is simply no need to pay huge fees to sell your property… and it seems that changes in the market are reflecting this. Read more in this article from Property Industry Eye.