Are the lines between Agents becoming blurred
It seems the idea of broker style hub estate agencies is really catching on. Reading recent trade press reveals companies like my old firm, Douglas & Gordon. MyLondon Home and Arun Estates (via their Hadleys sub-brand) are making a success of the model, and even Adam Horton, starting his new company, actually got a favourable reaction from an often hostile reading fraternity in the comments section of one leading website last week.
When I mention a broker only model many still wonder what that is, when people talk about Hybrid Agents they often mean Online Agents and surely all high street agents are online too. The lines are getting seriously blurred – so what differentiates them.
What is the difference between a Hybrid Agent – ie one with local property agents, and a broker only hub style. Is it fees, i.e. one charging a more usual ‘rate’ might be described as a broker only type, whereas Hybrid seems to imply cheap or fixed fee. But go to a certain well known ‘online’ agent – in reality, one of the better-resourced Hybrids – and your average fee is >£1200 + VAT, which in an area where average properties sell for £150k might not be considered cheap.
Seems to me that there’s some serious morphing going on here bracketed by the high end ‘implied full service’ high street charging full fees at one end, and online ‘not much to service you with’ get me on Rightmove at the other. Predicting the future is notoriously dodgy but it does seem that progressive high street and well-resourced hybrids look to be on a collision course for the middle ground.
Ed Mead is the Co-Founder of Viewber. To find out how Viewber could help to provide an additional resource to your business, why not book a free and without obligation Discovery Call and Demo with a member of our Business Development Team.