Online agents have slipped very slightly in terms of market share of all new listings in the last two weeks.
According to The Advisory consultancy, which tracks the state of play every 14 days, the top ten online agents account for 4.8% of all new listings. This was down from 4.9% in the previous 14-day period.
Emoov is back, after being purchased by new owners out of administration, but with only seven properties listed in the last 14 days it has yet to regain a place in the top ten online agents.
High street agents increased their new listings by 8%.
Purplebricks lost 1.6% market share of the online agency sector, says The Advisory.
Despite this, new listings by online agents between January 23 and February 6 remain heavily dominated by Purplebricks.
It listed 2,843 new properties, against the 450 listed by its nearest rival Yopa. HouseSimple had 411 new listings, followed by Doorsteps with 153.
The remaining top ten were House Network (78 new listings), 99homes (60), OpenHouse (55), sellmyhome (25), Settled (14) and esale (ten).
Altogether in the last fortnight, the top ten online agents had 4,099 new listings out of a total of 85,469.
https://www.linkedin.com/pulse/real-state-online-estate-agency-sector-2019-gavin-brazg
Comments (15)
Aren’t we supposed to be at 20% market share by now with 50% the figure by 2020? What on earth could have gone wrong?
How many years? … and none have made a profit but keep banging on about being a success. “Listings” in a sales environment is not what the public are interested in, it is the sale. But “listings” is all these companies hark on about, to get new business and after all these years not one has proved themselves as a success at sales, either gone bust or about to go bust. The public have been wise for along time and is supported by the fact that the majority by far are sticking to the High Street. Only the “on-liners” believe in themselves after spending a combined double digit £100m’s of investors money.
The government took steps to stop lettings fee’s to protect the consumer. How about banning upfront fee’s for not acheiving your obligation to sell a property and protect consumers. Thirty years ago the OFT wrote a report on their concerns of agents charging upfront fee’s was not in the interest of the consumer and high risk for agents not to comply with their legal obligations on best price.
One can imagine the Millions being pumped out in marketing by Purplebricks to try and keep feeding itself, in a tighter market ….and the real priority is not actually delivering the best result for their client, it’s simply to try and keep itself afloat.
Thinking about Purplebricks in the current market, they are akin to a large boat on stormy seas with a huge leak …..and they have to keep stuffing money into the gaping hole to try and stay afloat.
Smaller, Local/High Street based agent means nimble/adaptable. Keep delivering exceptional results for your clients and you can weather a more challenging market. In many respects less is more, if you place the right value on your particular service.
The Property Portal Market is certainly going to have to prove its value rather than simply tell us how invaluable they are …..and seemingly confirm this by increasing their charges creating the allusion that they are delivering value.
Be exceptional at what you do.
I would class all of the above including PB as For Sale By Owner / DIY sites.
So they are not estate agents.
So very true.
A pretty stupid and ill informed comment. Another one who clearly has no idea about how we work. I had over 20 years in the high street but now work for a non high street agent and I am most definitely still an estate agent.
There is nothing DIY about PB or Yopa. Yes, there are DIY companies out there and like many I wouldn’t touch them with yours but the big two are as much estate agents as any high street office (you know, those old fashioned things that close at 6pm that nobody ever walks into)
Yep and charge for not selling, no incentive to comply with the Estate Agency Act. Sorry but that is what High Street do, get paid for result which is what the consumer wants. If the agent fails his liability and loss. PB are nothing more than a listing for private sales if the vendor doesn’t take up the service offers … which costs them more, so much for “commissary”.
You should be called lisitng agents..not estate agents. PayanyWay should be banned as well.
SLF…
I thought you stated the other day that you provided a full service from first marketing to completed sale, better than any independent agent? Does that include organising and carrying out viewings, negotiating offers and agreeing final sale price and follow through chain chasing to expedite the sale, including regular liaising with solicitors and keeping the vendors up to date on progress?
BSOS23PC
‘I had over 20 years in the high street but now work for a non high street agent‘ Blimey you never mentioned that before SLF.
‘those old fashioned things that close at 6pm that nobody ever walks into‘ You mean the ones that over 95% of vendors choose?
Dependent on where you take the start point, the long term average market share of these firms is, at best, flat and, at worst, falling. To hit the projected growth figures promised to investors and LPEs’, they are going to have to work a minor miracle in a challenging market.
Many interesting things in the data from The Advisory.
Most notably that the turn of the year has not started well for PB. Their fortnightly average since the new year has been 2,787 listings compared to 3,526 listings (per 14 day period) in November. Lower listings = lower income.
Are the figures adjusted for properties that are relisted?
Anyone who paid up front to list and is relisted with the same brand/colour of board out front is not going to pay again.
Volume of Properties listed for sale versus Quality of Sales? …..I’ll stick with the latter as that should be the priority for the smart Vendor.
Purplebricks can keep piling them high & selling em’ cheap! Their customers are the Losers in so many ways.
We are selling property for a lot of investors at moment. They seem to know that bricks is a ponzi rip off.
I expect bricks core market of easily influenced Coranation street watchers are now wondering if they will have a job in 1 years, time never mind move house.
bless you brexiteers for you may do the job that rightmove and zoopla wont do. ban them!! …