Online makes traditional agency a luxury service
£4,300 or £633 to sell a house?
JP Morgan forecast that Purple Bricks will have a 15% market share by 2022. This may be half today’s overall online market share of 7.1% but online has almost tripled in three years. Retail took just five years to grow from 11.6% online to today’s High Street-decimating levels.
Our belief? Estate agency will mirror retail. But while retailers have the chance to move online and to charge traditional prices, estate agencies face an 80% fee cut.