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Online makes traditional agency a luxury service

Published on Friday, 6th July 2018, contributed by Bray Leino CX
£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.
 
We've produced a free insight paper including possible routes forward for sector players https://www.brayleinocx.co.uk/blog/estate-agency-sector-transformation/