Traditional estate agents in the UK are under threat from online rivals, according to this interesting article from Bloomberg. It looks like there will be a period of serious industry consolidation. This sector, like recruitment consultants, still hasn’t fully embraced technology and many of the staff and business processes need a radical makeover. Expect the strongest to survive. Thoughts?
Dr Alf is correct,estate agency like financial services and insurance before it is ripe for disintermediation and consolidation.
There will be a few mega players ,some specialists and everything else will go online.
Solicitors and the cumbersome process of buying a house also need to be brought into the 21st century as does local authority planning consent and the unsavoury policies of developers.
The banks and building societies need to be brought into the 21st century as well as the Government which steadfastly refuses to encourage systems building and 3D printing of houses by developers which would increase supply and do away with the need for estate agents to exist in such large numbers.