I read in The Times today that a director of a leading group of UK estate agents is predicting that 1 in 3 estate agents will go out of business during the course of the year.
His experience is that the volume of property sales this year is down by between 30 & 50% as compared to the same period last year. A pretty gloomy outlook...
As the owner of The Bungalow Centre, a well established firm of estate agents who like most estate agents is currently feeling the pinch, I would agree that the market is difficult at present.
A shortage of buyers, low offers and unrealistic expectations by some sellers all contribute to what is undoubtedly a difficult market and I have no reason to believe that things will improve within the next 6 months.
What my colleagues and I have decided is that we will take steps to ensure that our service improves still further. It is no longer good enough to provide a satisfactory level of service... my clients have to be surprised and amazed by the exceptional service they receive from us.
I do share the view expressed above that a significant number of estate agents will cease trading this year but it will not be the good estate agents that disappear. Instead it will be the minority of agents that would not recognise the truth if it bit them in the ass, that see every client purely as a unit of profit and has no interest whatsoever in helping their clients. A minority of agents are only interested in feathering their own nest and it is merely coincidental if this also happens to prove helpful to their client.
Perhaps, you would agree that if these unworthy people should cease trading as estate agents and perhaps join the disreputable end of the ranks of used car salesmen and purveyors of double glazing, then our industry would be a better place and our clients would be far more likely to receive the standard of service that I feel they are entitled to expect from the person they are trusting with their hopes and aspirations.

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