In the third quarter of this year, the market share of exchanges among self-employed agents grew by 8.1%, while year-on-year growth is 22.8%, new figures show.
Since 2019, the self-employed market share of exchanges has grown more than 7.5 times, demonstrating how these agents are successfully selling their instructions, according to new data from TwentyEA.
In comparison to Q3 2023, the market share of exchanges for self-employed agents has increased across all property price brackets. This growth is strongest for properties over £200,000, and the self-employed model seems to be making inroads into the £1 million-plus price band with a 44% uplift year on year.
|
Price band |
Uplift in market share of exchanges among self-employed agents (Q3 23 comparing Q3 24) |
|
Less than £200k |
9% |
|
£200k – £350k |
29% |
|
£350k – £1m |
24% |
|
£1m+ |
44% |
Except for the North East, self-employed agents have seen their market share of exchanges increase between Q3 2023 and Q3 2024 in every region of the country, with the South West, Scotland and the West Midlands all seeing growth of over 50%.
In Q3 24 their market share was highest in the Yorkshire & The Humber and the East Midlands, although growth in those regions was more modest. The North East and East of England are the regions where market share was lowest.
|
Region |
Uplift in market share of exchanges among self-employed agents (Q3 23 comparing Q3 24) |
|
East Midlands |
9% |
|
East of England |
23% |
|
Outer London |
31% |
|
Inner London |
23% |
|
North East |
-56% |
|
North West |
35% |
|
Scotland |
59% |
|
South East |
22% |
|
South West |
50% |
|
Wales |
11% |
|
West Midlands |
60% |
|
Yorkshire & Humber |
8% |
Katy Billany, executive director of TwentyEA, said: “Adoption of the self-employed model, through brands such as eXp, The Agency UK, and Keller Williams, is continuing to grow among estate agents, with a 22.8% rise from 2023.
“As a collective, self-employed agents are now larger than the two biggest estate agency brands, Purplebricks and William H Brown, suggesting that the benefits of being self-employed are attracting more agents.”
Great stats, showing the actual facts. eXp UK now has over 600 agents and good to see how quality self-employed agents are doing well. As per this report, growth is strongest for properties OVER £200,000. This is not a race to the bottom – it is helping to improve EA. Mark Buchanan recently shared a screen-shot of his exchange pipeline, at £201,000. We have substantial numbers with pipelines over £100,000. The quality self-employed tipping point has now been reached in EA, offering ambitious agents who want to go down this path the opportunity of doing so, without having to re-mortgage their home.
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VERY interesting!
It’s taken a long time for the self-employed model to really take hold in the UK but it really appears to have caught fire now. I can only see this model expanding in the years ahead with eXp leading the way at the moment.
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Very interesting stats. I’d put the market share figure of ‘ self employed ‘ ( lazy man boys with rich wives ) at more like 0. 5% ( on a good day )
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Seriously? If you look at the numbers, several EXP agents are ranking among the top three in specific areas. Take Cheltenham, for example. On no scale is this affluent area a small local patch. EXP holds the third spot there, with over 8% of listings.
The deeply concerning mindset that characterizes all agents as “lazy man-boys with rich wives” is utterly out of touch. Katy Poore is a perfect example; she started out on her own earlier this year and has already secured sixth place in St Ives, with a 5% market share, of which 75% of her listings are sale agreed.
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The Exp agent in Woking had 3 houes listed last time I looked
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In Woking they are placed 20th out of 46 agents and one of the largest agents in the land has fewer than the 3 you’ve quoted as do 26 other agents
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WOW, what an outdated, quite shocking comment. I am a hard working eXp agent with over 20% market share selling more properties in my area than ANY other agent for 3 years running, completing on 100 homes per year. So I’m definitely not a ‘lazy man-boy’….more a ‘hard working Geordie lass’ This model had transformed my life with a lot of hard work and with a supportive rewarding model = happy agent = happy clients
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What an ill-informed, silly comment.
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As I have commented elsewhere-self employed status is not for everyone-but as we are finding at TAUK-motivated, self starters, can very quickly carve out a niche local market share and by personally retaining a very high percentage of the commission (our average fee being now circa £5,000) SUBSTANTIALLY increase their previous employed earnings. I think that the market share being taken by such agents will continue to increase as TAUK, probably matched by competitors, rapidly increases the number of associates. As for the description of lazy boys with rich wives? Complete hogswash!
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what is it with UK estate agents, it always has to be “my dads bigger than your dad” if you want to work for EXP then go do it, if you want to work on the high street then go do it.
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well said
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As I said in my comment Gangsta, “offering ambitious agents who want to go down this path the opportunity of doing so.”
It isn’t for everyone, but the model now offers a greater chance of succeeding than was previously the case.
I don’t view it as a self employed v high st competition. I see it as a next-stage progression for excellent, experienced agents wishing to progress further than an EA employed role the chance of doing so.
Many agents will of course continue to progress within the high st environment, having no wish to ever go self employed.
I think the wealth of opportunities now available across the board should be celebrated.
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I’d add to this that in a market that is already seriously short of candidates this is having a significant impact in the world of estate agency recruitment.
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And recruitment joining the self employed models is zero cost. It will rationalise EA recruitment agencies and many top performers will go self employed, with no recruitment costs attached.
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