Are the So Called “Disrupters” Guilty of Post Truth Politics?

You really would have to have been living in a cave for the past six months to have avoided the phrase “Post truth politics” when turning on your TV or tuning in your radio. As the term has been used in great abundance by political journalists from all sides, in the context of describing the debates that took place in the run up to both the Brexit and US presidential election campaigns.

Interestingly, the term was thought to have been invented by environmental blogger, David Roberts back in 2010 when writing his column for US on-line publication, Grist. It was used to describe the political culture in the United States in which debate is framed largely by appeals to emotion disconnected from details of policy; as well as the repeated assertion of talking points to which factual rebuttals are totally ignored.

Since estate agency “disrupters” such as Purple Bricks and eMoov emerged with substantial financial backing a couple of years ago – I have on the one hand, admired the level of innovation and forethought that must have gone into seeking to change (on a national scale) the way we sell property here in the UK., whilst on the other, always been sceptical as to whether it would be possible for them to mimic the service offered by high street estate agents at the headline fees that they offer.

Well, I don’t think that it would be unkind to say that the “jury is still out” in terms of whether they have been a success or not, as a great deal of money has been spent backing them and yet despite making notable progress in terms of market share, the word “profit” is still largely absent from even their own pronouncements.

Have they been disruptive? Well, they certainly have been the noisiest of neighbours, ably assisted by a largely sympathetic financial press – who have been so fulsome in praise for their arrival that they were clearly under the impression that internet agency was offering the public a cure for the common cold. Joking aside, I suppose that the real question should be whether their business model will be durable enough to lead them into profit before their loans finally run out? We will no doubt have to wait and see on this point, but I for one remain a sceptic, and will not be investing any of my money in their direction anytime soon.

You see like many industries that go through periods of great change and turbulence, it is not always the headline makers that go on to sustain long term. For whilst there may well be an oversupply of high street agents right now, the fee levels of Purple Bricks, House Simple etc will unquestionably have to rise substantially if they are to eventually become profitable. So, the pressure is currently not just on traditional estate agents at present, but also on their low-cost internet rivals too, as recent history has shown that City money can indeed prove to be a demanding mistress.

So where will all this lead? There is an old adage that was quoted to me many years ago – “turnover is vanity, profit is sanity, whilst cash is reality”, and both high street estate agents and their internet rivals would do well to take heed. However, it would also be disingenuous of me not to point out, that the somewhat cosy and complacent world of estate agency that I have known for many years now has been long overdue for a fulsome shake-up – so in many respects the introduction and financial backing of internet estate agency I believe to be largely a good thing.

But still, this particular race is not yet run, and I suspect that we may have some way to go before we fully comprehend what this “brave new world” of modern estate agency will finally look like. However, I have little doubt that many a business plan will be adjusted more than once over the next few years. Also, whether you believe in “post truth politics” or not, the essence of business has remained the same since time began – in that profits and cash are real, and everything else is just what it is, and ultimately doesn’t mean a jot if you want your business to endure in the long term.

The author of this article is Peter Nicholls CEO of Ideology Consulting. For further information call 0333 939 8010 or go to www.ideologyconsulting.co.uk

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

for sale sign london
Breaking News

New-build demand dips in Q3 as homebuyers sit tight ahead of autumn statement

The latest market analysis from Property Inspect has found that fewer than one in five new homes are currently securing a buyer, with homebuyer demand for new-build properties falling on both a quarterly and annual basis. Property Inspect analysed current market listings looking at what proportion of new-build properties are already marked as sold subject…
Read More
Breaking News

Rightmove celebrates 25 years of viral property moments

As Rightmove marks its 25th birthday, we’re celebrating the properties that stopped people mid-scroll, sparked thousands of shares, and became internet sensations. From a house with its own Tardis to a shark crashing through a roof, these homes prove that the UK property market is anything but ordinary. With billions of minutes spent on Rightmove…
Read More
Breaking News

Rental stock availability in England rises by 19.7%

The latest rental stock analysis from Adiuvo, the UK’s leading provider of 24/7 property management solutions, reveals that tenants in England are benefitting from a 19.7% increase in stock over the 12 months leading up to Q3 2025. In some areas of the country, annual stock growth easily exceeded 50%. Adiuvo has analysed rental listings…
Read More
Breaking News

Tenant demand continues to climb in Q3 as rental market shows no signs of cooling

The latest market analysis by Dwelly, one of the UK’s leading lettings acquisition and success planning experts, has revealed that tenant demand continued to climb across the rental sector during the third quarter of this year, with West Sussex home to the highest demand, whilst Rutland saw the largest quarterly increase. Dwelly’s Rental Demand Index* analyses…
Read More
Breaking News

Halifax House Price Index for September 2025 – Thoughts from the Industry

Halifax House Price Index for September 2025. The latest index shows that: On a monthly basis, house prices fell by -0.3% between August and September 2025. However, house prices were up 1.3% on an annual basis. The new average house price now sits at £298,184. Thoughts from the Industry. Nathan Emerson, CEO of Propertymark, comments:…
Read More
Breaking News

Halifax House Price Index for September 2025

House prices in September 2025 were -0.3% lower than the same month a year earlier. Average house price – £298,184 Monthly change -0.3% Quarterly change +0.4% Annual change +1.3%   Amanda Bryden, Head of Mortgages, Halifax, said: “The average UK house price edged down by -0.3% (£794) in September, following a modest rise in August.…
Read More