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Estate Agents Run For Cover


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From Moneyweb..

As home sales volumes continue to decline, estate agents are running for cover and trying to get under the wings of the big agencies, says Lew Geffen, chairman of Sotheby’s International Realty.

...

He charges that it is most unlikely they will survive for long. “Research done by the Estate Agency Affairs Board at the height of the boom in 2004 showed that even then - when some 40 000 agents were on the register - more than 40% of agents were earning less than R10 000/month, and one fifth were earning less than R5000.”

http://www.moneyweb.co.za/property/705164.htm

That's the trouble with industries that have such low barriers to entry.

The industry is going to need a massive recession to clean out all the dead-wood.

It couldn't come sooner.

Edited by BandWagon
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