Small agencies view DIY platforms as business threat
Original Article Summary
One third of independent estate agencies with fewer than five branches consider DIY property platforms such as OpenRent to be a major threat to their business, according to research from CRM provider Alto. The findings reveal a significant divide between small and large agencies in their perception of online property platforms. The post Small agencies view DIY platforms as business threat appeared first on PropertyWire.
PropMatch Curated Analysis
Research shows one-third of small estate agencies view DIY platforms like OpenRent as major business threats, while larger agencies are less concerned. This suggests potential consolidation in the independent agency market and changing service dynamics for property investors.
Investor Relevance
Investors may face reduced service options as small agencies struggle to compete with low-cost DIY platforms, potentially leading to a choice between cheaper but less comprehensive services or premium offerings from larger agencies. This could affect transaction costs, compliance support, and local market expertise availability.
Original Source:
PropertyWireStay Updated
Subscribe to our weekly briefings for curated property news and insights