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.