High Street Estate Agents are facing stiff competition from their online equivalents with many more setting up offering vastly reduced commission rates. They can afford to do this because often they are only online, have no office space and overheads and in fact do not even arrange or attend viewings in many cases. You simply pay for the online advertising. Will we see many more Estate Agents offices becoming vacant as the competition drives the independents out of the market? Will there always be a place for the traditional Estate Agent? Perhaps more likely will be a focus at the top end of the market which is more of a specialist bespoke service.
Everyone loves to hate estate agents. Could it be that the days of the sharp-suited foot-in-the-door man, or the country equivalent in his tweed jacket (with the Labrador in the back of the car), are now coming to an end? Just as Airbnb has shaken up the world of travel and hotels, so online estate agents are trying to blow apart the old system of buying and selling property. ADVERTISING Who hasn’t spent a spare 10 minutes in the working day snooping around the online property portals to check prices in their street or village, or to fantasise about a cottage by the sea?