Call-centre estate agents national market share falls by 24% in the month*
In May, Mike DelPrete caused eyebrows to be raised in estate agency when he claimed that call-centre agents (incorrectly labelled online agents by some**), as a sector, had increased their market share of new listing to 7.1% from a previous (relatively) steady 5% or so for the past year or two. However, in his latest release, covered in Estate Agent Today, his research shows a 24% reversal in fortunes in the call-centre sectors share as a whole.
28/06/2018 EAT Today: “He (Mike DelPrete) also says that the total market share of the top five online agencies, based on new listings, is down to 5.4 per cent for May.”
08/05/2017 EAT Today: “Specifically, he (Mike DelPrete) says new listings market share for the online agents in the UK is up from 5.7 per cent in January to 7.1 per cent last month.”
At a glance, DelPretes’ data does not appear to take into account properties that have been multi-listed by some agents (portal juggled) but, nonetheless, demonstrates that the call-centre agency model is struggling to gain the massive, sustained growth in market share it has long promised as a sector.
There could be a number of factors at play in this dramatic drop much of which could be further bad publicity over the model and its chief players facing negative press from ASA rulings and consumer programs but predominantly on social media with Purplebricks, in particular, facing a daily barrage of complaints and abuse from unhappy customers which may be affecting other players in the sector by association.