Estate Agents rush online to stay in business?

June 15th, 2008 by admin · No Comments

Estate Agents are struggling to stay in business and the market slow down has hurt the property industry more than any other according to an analyst.

A recent report in Bloomberg has found that the top estate agents will be cutting their marketing budget on traditional print advertising by almost 90%. This is because of a shift to online marketing.

With 150 estate agent offices currently reported to be closing every week, Jonathan Haward, Managing Director of The County Homesearch Company says the face of the high street estate agency will change forever, and in today’s market only the very best will survive:

He explained: “With 85% of people already commencing their search for a new home online, the need for an estate agent presence on the high street office has been diminishing for some time. Coupled with the increasing use of internet by customers to find properties it is now common knowledge that Estate Agents who do not invest in building their online presence will be not be able to remain competitive.