Greycoat Real Estate Insight on The Increased Number of Estate Agents

Recent research indicates that the number of real estate agents in the UK is rising despite unfavorable property purchase market conditions. This is something Greycoat real estate specialists are really aware of. It means property buyers and sellers will get quality agents to guide them through the purchase process.

The recent report from Rightmove showcases a 46% increase in sellers entering the UK market, Greycoat agency shares. This is in a bid to beat the market slowdown in the Christmas season, hoping that the 2024 housing market will bounce back. As the number of sellers increases, the number of agents to serve them grows. Despite all the business sectors experiencing a fall of -1.5%, the estate agents are defying this trend by increasing. 

This is quite the opposite, while the cooling market conditions dictate otherwise. In the past year, the market has experienced economic turmoil. Although there is a slight growth, the estate agencies have recorded an increase of 1.9% in 2023. Greycoat informs that the East of England recorded the most significant expansion of 3.5%, followed closely by the North East at 2.7%. The East accounted for about 10.1% of the UK’s agencies, while the South East had approximately 15.3%. 

This implies that London is home to the highest number of estate agencies, accounting for 29%. Experts say that the rise of agencies will help meet the market demand. Agents will also up their game due to stiff competition. As an effect of this, you’re guaranteed to sell and buy properties at a favorable price. This is something Greycoat guarantees.

The Impact

The increased number of estate agents offers buyers and sellers unlimited options to hire the most reliable agents. It also means going through a tedious process of selecting an agent. Besides, sellers can now list their properties with multiple agents to boost sales. Due to stiff competition, Greycoat finally adds, the market is also likely to experience a decrease in transaction costs and search time. With the several agents available, finding a desired property will become seamless.