Tuesday, 8 August 2017

One In Five High-Street Estate Agents Risk Going Bust

One in five UK estate agents are at risk of going out of business amid a growth in online companies, new research shows. Almost 5,000 estate agents are showing signs of “financial distress”, said accountancy firm Moore Stephens. Traditional companies are likely to have higher property and staff costs and are struggling to compete with low-cost, fixed-fee online agents, said the report. The growth in property websites has also undermined the role of estate agents, it suggested. The study follows a slump in profits announced last week at two of the UK’s biggest estate agents. Read more on the Guardian website.

No comments: