Article is here.
Countrywide’s profits are down 98% (!) and Foxton’s is down 64%. Wow. Why? Put simply, almost nobody is buying and nobody is selling, at least not through these estate agents.
What is the cause?
- Changes regarding estate agent fees?
- the rise of online estate agents?
I don’t know what the exact cause is but clearly, there is a big problem in estate agency right now.