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What problems are estate agents facing?

Many traditional estate agents are in turmoil, as they continue struggling to compete with online competition from the likes of Zoopla, Rightmove, Purplebricks and Housesimple. Higher property and staff costs combined with many potential buyers conducting their own research online, is pushing many estate agents towards insolvency.

Smaller high street estate agents across the UK are said to be suffering the most as a result of having tighter margins, along with increased in competition.

Statistics over the last few years have painted a problematic picture. According to an analysis of data from one accountancy firm, nearly a 5th of UK estate agents are facing financial problems, with 19% showing warning signs of insolvency.

There has also been a considerable reduction in the number of homes sold.

The hiking of Stamp Duty in 2014 for expensive homes, especially in London, has been attributed to the low supply and demand in the market, along with fewer people deciding to move and preferring to opt for home extensions instead.

Closing down your struggling estate agent business

If you’re a director of an estate agent that is facing financial difficulties, we can help you.

At Clarke Bell, our expert Insolvency Practitioners will discuss your situation with you, and provide you with tailored, free advice to help you find the most suitable solution.

For many, the best solution is a formal procedure called a Creditors’ Voluntary Liquidation (CVL).

With a CVL:

  • Your business debts will be dealt with in the correct manner
  • Legal obligations will be met
  • You’ll get the fresh start you need explore other business options
  • Control will be put back into your hands
  • You’ll get immediate relief from creditor pressure

Our CVL fee is from just £1,995 (all inclusive).

We’re here to help sooner rather than later

When it comes to financial problems, the sooner you deal with them the better. So if your company is facing serious cash flow issues, get your free professional advice from our insolvency experts today.

A CVL isn’t always the most suitable option. If it is not right for your situation, we will tell you what is.

For your free expert advice 0161 907 404

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