Increasing number of online Estate Agents.
Another day, another online estate agent, it feels like that sometimes with new ones entering the market on a regular basis recently, Yopla is the most recent to appear or is it? did another one launch this morning?
The resilient UK property market is fuelling the growth of the online estate agent, the highly competitive fee structure is definately a winner with customers, investors are taking more note of these online agents who are undercutting their high street rivals.
Research firm Hardman reportedly says that online estate agent Purplebricks has become the fourth-biggest UK estate agent by number of property transactions since launching in mid-2014, the company launched on the stock market late last year and is presently being watched closely by investors, their share price has not performed that well since it started trading losing around 15% in value.
Many property industry experts see the online agent as the way forward in the same way as Uber has challenged the traditional minicab business model, fixed prices of online players will certainly increase pressure on commission rates charged by traditional agencies.