Already in the industry? Changes are coming
If you are already in the industry, then you will know that changes were happening even before the advent of Covid19 and the immense difficulty it thrust on the estate agency sector. Significant movements were afoot with the emergence of low-fee online portals and the rapid growth of fixed-fee estate agents. The halcyon days of 5% commissions and joint collaborations are without doubt under pressure, with the lockdown caused by the pandemic, further expediting this change. Fees are inevitably dropping and alliances are becoming less financially rewarding. Given this new scenario, agents are understandably more protective of their own portfolios and are looking to sell directly rather than accepting half or even less in reduced split commissions.