How is the high street coping with online agents?

footfall falls

When I opened my own full service ‘online’ agency 6 years ago, I knew that there was an opening for something different. My opinion was somewhere in between the fully optimistic “the high street is dead” and the traditional “sellers want local offices” as I believed that there was room for both, in various forms, and the strong of each would survive and the weak, including some high street agents, would fall.

Fast forward to 2018 and I thought it would be interesting to run through the type of meetings I have been having, as an agency consultant, since January 1st.

There’s no doubt about it, the hybrid estate agency model, particularly Purple Bricks, has changed the market forever. If the average vendor calls three agents in at market appraisal stage, until recently, an online agent would have to fight to be the fourth phone call; now they’re one of the three. This, in turn, means 33% less market appraisals for the high street – in theory. What are the high street agents doin about it?

One of my clients has employed me to specifically analyse what, how and where these MA’s are going, to who and what can be done about it. What are the USP’s being bragged about when my client, a medium independent, sees another Purple Bricks board go up? We’re not only looking at reducing loss directly but also ensuring that the agent remains one of the strongest on the high street, thus reducing the impact of the ‘33% drop’.

Another client in the North East is looking at launching their own ‘online’ version of their brand, with local property experts working in a similar way to the hybrid model it under a local brand and trusted business. This, in theory, will offer vendors comfort of an established team but the advantages of having a round-the-clock rep, not clocking off at 5pm and rivalling the USP’s of the hybrid agents.

Whether large, small, new or old what I have found interesting is the different approaches the high street agents are taking to wrestle back some business and keep relative to their market.

It’s going to be an interesting few years, with many changes, closures, start ups and challenges and one thing is for certain – online agents have altered the landscape, how will the high street cope?

Written by Richard Nicholls – richardnichollsproperty@gmail.com

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.

You May Also Enjoy

Breaking News

Half of homes increased in value in 2024 by £7,600 as house prices returned to growth

Homeowners checking the value of their home on Zoopla are likely to have seen an increase in value with half (15 million) of all homes across the UK increasing in value in 2024 by an average of £7,600 or more A third of UK homes registered small value falls, mostly across Southern England, as higher…
Read More
Breaking News

Rental Reforms Will Make Access to Housing Harder

Speaking ahead of the final stages of the Renters’ Rights Bill in the House of Commons today, a coalition of organisations representing landlords, letting agents and build to rent providers said: “We accept that Section 21 repossessions are ending, and support measures to ensure every rental property is of a decent quality. However, the Government’s…
Read More
Breaking News

Barclays: 1 in 6 Homeowners eye up a move in 2025

1 in 6 Homeowners eye up a move in 2025, as growth in mortgage and rental spending slows   Rent and mortgage spending grew 1.8 per cent year-on-year in December, down from 8.2 per cent in November, as more homeowners benefitted from base rate reductions Six in 10 renters say that it would be impossible…
Read More
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker 10/01/25

Commenting on the rise in UK borrowing costs and the potential impact on mortgage rates, Rightmove’s expert Matt Smith says: “The short term impact is that mortgage rates are likely to rise, as the cost of borrowing increases impacts lenders. However, this is unlikely to be significant and certainly not completely unexpected. Looking a bit…
Read More
Breaking News

Access to Rented Housing Will Be Harder for Tenants Most In Need

Responding to amendments tabled to the Renters’ Rights Bill by the Government to restrict the amount of rent that can be sought in advance, Chris Norris, Policy Director for the National Residential Landlords Association, said: “Restricting rent in advance, combined with freezing housing benefit rates and not enough rental housing to meet demand is creating…
Read More
Home and Living

Top Reasons to Hire JD Movers in Melbourne

Moving can feel like an awkward dance—one misstep, and you’re tangled up in a mess of cardboard and bubble wrap. We all know moving is stressful. Moving can unravel even the most zen among us, whether in a studio apartment or a four-bedroom McMansion. In such a situation, hiring a moving company can ease the…
Read More