From March 2018 edition of ‘The Negotiator’
Online agents sell just 51.6% of listings
New research revealed at The Guild Conference 2018 showed that one major online agent sold just 51.6 per cent of the properties they listed.
Anthony Codling, Senior Equity Research Analyst, UK Building & Residential Services at Jefferies, (a global investment banking firm) gave his first presentation on online DIY agents after 14 months of research.
The heart of Anthony Codling’s presentation, titled ‘Facts, Fiction and Forecasts’ revealed that listing a property with an online agent was similar to a coin toss, with almost as many homes listed by a certain online DIY agent not selling as selling.
The research looked at completed sales registered by Land Registry.
Anthony said that he was inspired to research this area after hearing a report on BBC Radio 4’s Money Box programme in October about ‘estate agents’ who charge customers even when they fail to sell a property.
Ian McKenzie, CEO of The Guild, said ‘It was fantastic to hear Anthony’s research only minutes after it was published. His insights will be so useful for Guild Members, as this is the information that independent estate agents need to continue to be market leaders’.