Online Agents’ Market Share Drops, Analysis Claims

Online estate agents’ share of the market fell to just 3.8% in June from 5.19% in May – according to analysis from The Advisory, an independent consumer advice group for home sellers.

The Advisory say that the top 10 online estate agents accounted for just 3.8% of all new properties listed in the second half of June 2019. It adds that while Purplebricks was by far the largest online estate agent and their market share ‘nudged up’ from 69.6% to 70.2% HouseSimple ‘lost momentum’ and were caught by Yopa to tie for second place in the top ten.

The analysis – presented under the title ‘The REAL State of the Online Estate Agency Sector’ – says that high street estate agents grew their market share at a greater rate than the top three online estate agents. It says high street estate agents increased new listings from 91,129 to 95,011 (+4.1%) outperforming Purplebricks and the market as a whole.

Although this analysis seems to suggests that conventional estate agents are winning the online-v-offline battle for house sellers’ business it’s difficult to judge whether that is actually the case. On top of market uncertainty due to Brexit June isn’t traditionally popular for house selling anyway. Indeed, Purplebricks might actually be quite pleased with their performance in the circumstances.

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Source The Advisory
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