Countrywide’s £995 Online Deal – Are they shooting themselves in the foot?
“A high street agent that lets you sell online!” is the tag line Countrywide are using to launch their onlinr package through their High Street Agencies.
The promo stuff Countrywide are chucking out on social media is all about “giving choice to our clients”
I dont dispute it gives the client a choice. I have a lot of love for the Countrywide brand and the people that work for it. My concern though isn’t for the client (they already have a huge choice of estate agents ) …
… no my friends .. my concern is for the company and employees working at Countrywide. My fear is this .. what if the Countrywide online package really takes off … and I mean really takes off? The very thing Countrywide set up (their online offering) could end destroying the very thing (the High St operation) it was designed to protect (ie everyone uses the online package instead of the high street package – meaning offices will close and people made redundant).
Watch this 3 min video with my thoughts on the thorny subject ..
Now of course, I could be wrong? .. In 2016, the Countrywide’s market share of the UK property market was 9.1% (figures from Countrywide Investor Relations and Land Registry combined). If Alison Platt and her team come back to the City in three years time and says they had retained their High Street market share at 8% to 9% and on top – with their online package got an additional 5% .. then their overall market share would have increased to 13% to 14% – which would be impressive .. my only fear is they still only stay at the 8% to 9% market share range – but half of that going the full fat High Street fee route and half of that on their diet £800/£900 fee offering .. meaning same market share + same costs but lower income.
Interesting times ahead!
Kind regards
Christopher Watkin
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