The top ten online estate agents accounted for 5% of all new listings in the last 14 days.
According to the Advisory, which tracks market share, this was a rise of 0.2% on the previous 14-day period.
Purplebricks took almost 72% of all the new listings secured by the top ten online estate agents.
Purplebricks gained 2.4% market share of the online agency sector, while Emoov squeezed back into tenth place after listing ten properties.
easyProperty failed to make the top ten.
The market as a whole contracted, with 86,376 properties brought to the market, down 3,192 from the previous period.
Purplebricks’s new listings numbered 2,931 – easily outstripping its nearest rivals Yopa and Housesimple with 407 and 395 new listings respectively.
Another large gap put Doorsteps in fourth place with 126 new listings.
This was followed by another large gap, with House Network in fifth place with 79 new listings.
The other five places in the top ten were taken by 99homes (49 new listings); OpenHouseEstateAgent (44); sellmyhome (33); settled (11); and Emoov (ten).
Taking its data from Zoopla, the Advisory observes: “easyProperty are nowhere to be seen. Zero new properties were recorded as being brought to market in the last 14 days.”
https://www.linkedin.com/pulse/real-state-online-estate-agency-sector-2019-gavin-brazg/
https://www.linkedin.com/pulse/real-state-online-estate-agency-sector-2019-gavin-brazg/
Comments (16)
I wonder how the guys that purchased emoovie are feeling right now? 10 instructions?? Soon be burning cash quicker than Quirky!
Gavin
Do you have any data showing the number of listings by House Simple in the areas where they are offering free listings? Their numbers are undoubtedly inflated by this offer.
I’m afraid not.
I was wondering how Express’s circa 6k of listings weren’t even mentioned, is this because they are solely no sale, no fee and not budget upfront fees?
Basically.
HS and Yopa will run out of cash between now and June.
PB will then be able to hike their fees further.
These league tables are inaccurate.
No Ewemove, no Express Estate Agency, no Springbok Properties, no British Homesellers no signature by mark small (which has the odd high street shop but essentially hybrid)
We exclude a number of estate agencies because their USP does not focus on cheap fees:
EweMove – Franchise operation that charges fees comparable to the high street
Sold.co.uk – Targets sellers needing to sell quickly not sellers looking to save on EA fees.
ExpressEstateAgency – Targets sellers needing to sell quickly not sellers looking to save on EA fees.
Springbok properties – Targets sellers needing to sell quickly not sellers looking to save on EA fees.
British Home Sellers – Targets sellers needing to sell quickly not sellers looking to save on EA fees.
GetAnOffer – Targets sellers needing to sell quickly not sellers looking to save on EA fees.
BricksMortar – Targets sellers needing to sell quickly not sellers looking to save on EA fees.
SellSimple – Targets sellers needing to sell quickly not sellers looking to save on EA fees.
Strange to miss them all out as they do technically make up a % of the online arena?
Which if missed out then totally undermines the headline of this very story…?
I see, thank you for clarifying.
So am I right in thinking you define ‘Online Agents’ as national agents without branches, that charge cheap fees?
There are high street agents with USP of cheap fees… there are online agents with USP of premium service – as Head Shepherd has pointed out in this thread.
I think we need clearer definitions if you don’t mind me suggesting GavinBrazg
I don’t mind you suggesting. And if you would like to send us a list of all the companies you feel should be included in the analysis, the best email is info@theadvisory.co.uk
Hi ValueCounts31. Thanks for noticing EweMove are not on the list – but I don’t want to be on the list as we’re not an online agent. If you characterise Onliners as charging up front with a vendor driven / light touch model, we’re the exact opposite of that. We don’t charge a penny to the seller until the house sale completes, have no contract tie in and no ‘marketing package fees’ charged on signing (which many traditional agents also sell to at least get some revenue ‘up front’).
And we host 100% of all our viewings, so we have a super high-touch service model. That’s why we’re as far away from the on-liners as you could possibly get! And when you examine the outcomes, we sell quicker than anyone else in the UK from listing to completion, complete more sales as a % of listings and sell them for more than average agents achieve. This is due to the high-touch, high-involvement processes we deploy.
But if we were on the list, we’d be in 4th spot. Cheers!
Ah Yes, I saw 2 Purplebricks For Sale Boards go up in a flat development in my local area.
It’s when you see the boards up close and realise how cheap/tardy it all is. Poorly priced, poorly presented.
Well done the PB LPE though, job done, your fee in your PB poly bag.
Dear Homeseller, congratulations on your purchase of a cheap bag of chips, enjoy!
Miles from the 25%-50% Quirky forecasted a couple of years ago, and a significant drop from the roughly 7% the call centre listers had a year ago.
Looks like the high street is far from dead, taking back market share indeed.
Also this casts doubt on PB claims that they have 75% share of the call centre market
What’s happened to Easyproperty? Maybe someone from The Guild would like to make a comment?
Ask Russell Humphrey – I told you that he would be the death of them….
Wonder which online agent will be next to announce that Brexit is the reason why they are not making any money