More letting agents want to sell-up, says PropTech re...

Breaking News

11 February 2020

6723 Reads
0 Comments

By Graham Norwood

TODAY'S OTHER NEWS

More letting agents want to sell-up, says PropTech report

A survey by PropTech firm Goodlord suggests a growing number of agents want to sell up.

Goodlord surveyed 200 agencies for its ‘state of the industry’ study, 55 per cent were smaller firms with up to 199 properties while a further 40 per cent were company with 200 to 999 properties.

More agents said they would consider selling their agency than six months ago, “perhaps reflecting the pessimistic sentiment towards the the future of the lettings industry” according to Goodlord.

Another 13 per cent said that they would “definitely” consider selling their agency if the opportunity presented itself, up from five per cent six months ago, with a further 26 per cent saying they “probably” would consider selling their agency, up from 10 per cent.

Respondents from larger agencies - of over 1,000 managed properties - were more likely than respondents from small or medium agencies to consider selling their agency.

On the flipside, only 16 per cent of survey respondents said they would “definitely” consider buying another agency if the opportunity presented itself, down from 29 per cent who said the same six months ago.

A quarter of survey respondents said they “definitely would not” consider purchasing another agency if the opportunity presented itself, up from 12 per cent six months ago.