Connells estate agents, with hundreds of High Street branches, have just announced pre-tax profits of £48 million. That’s about £300,000 per branch. Their press release doesn’t say anything about their fees but they are known to be around the 1.6% mark. On the average UK property that’s about £3400.00 on each home sold.
You can imagine the opinion of us online estate agents of such numbers…. about the same as the public’s. With selling fees ten times less than that, no wonder the online (r)evolution is forging ahead.
And there’s something interesting along those lines in the Connells statement today too. They mention that their ‘online activity increased by 15% in January 2011’ as compared to 12 months previously.
Hold that thought… 😉