According to new research, when the estate agency industry does recover, it will be dramatically different from the industry today. Given the growing power of the Internet, many industry observers believe that the industry will not bear any resemblance to the one we see today. It is expected that a period of restructuring will result in a smaller market and that more people will be selling property without using an estate agent.

Consumer research for the report reveals that 57.7% of consumers said that they would search the Internet if they wanted to move home. While slightly lower than the 2007 figure (58.4%), this confirms the importance of the Web among potential homebuyers; men and women were equally likely to take such action. Despite this, 81.2% of adults still said they would visit an estate agent’s office if they wanted to move home. Continue reading “Estate agency industry is in for big changes…” »