Industry Analysis & Industry Trends
The UK Real Estate Agencies industry includes all businesses that provide intermediary services in the buying, selling and renting of real estate on a fee or contract basis. Operators who provide advisory or appraisal services in connection with the buying, selling or rental of real estate are also included in the industry. The sale of residential property is by far the largest business segment for the entire industry, accounting for almost 60% of all revenue. As a result, the housing market crash in 2008 had a devastating effect on the industry. Industry revenue fell by 16.7% in 2008-09, triggering significant falls in the number of industry enterprises and total employment. The five years through 2013-14 have mainly been about the recovery of the industry... purchase to read more
Industry Report - Starting a New Business Chapter
While the capital and regulatory requirements to commence operation in the industry are not high, prospective entrants must negotiate other barriers. Acquiring experienced staff can be difficult or expensive, particularly during boom times for the industry where there is a shortage of suitable labour. With real estate agencies relying heavily on their reputation and recognition in the community, it can also be a challenge for new entrants to overcome this disadvantage and establish themselves. This task is often made easier by poaching staff members from other agencies who have an existing standing in the industry, but such staff members are not always possible to obtain... purchase to read more