Want to Improve your Businesses Performance?
It is no secret that estate agents in the UK have been using the same business model for over 50 years, which has up until now proved largely durable and reliable. So why have things changed over the past five years in particular? Well, it may not surprise you to learn that the answer is multi -faceted and lies largely in the points listed below;
- Competition – Estate agents operate in a market with no barriers to entry, so anyone can enter market at any time.
- The Internet – Internet operators compete with both each other and high street firms which has put pressure on fee levels.
- Stamp Duty – The cost of buying a property has risen markedly over the past few years largely due to rising house prices and accordingly, the amount of stamp duty payable. This has in turn led to a decrease in the number of sale transactions here in the UK.
- Technology and Consumer Expectations – Technological development has changed all of our lives in recent years, and with it our expectations. On-line shopping, music down loads, Smart TV’s etc have all become part of our everyday lives – and property sales and rentals have not been immune from this revolutionary change in consumer behaviour and expectations.