Editor's note: This brief was summarised by The Property AI Team from a report by The Negotiator. Read the original article for full details.
Self-employed agents lead on sales metrics, TwentyEA finds
Self-employed estate agents are outperforming traditional agents on several key sales metrics, according to new analysis by property data firm TwentyEA. Despite making up only a small but growing part of the market, self-employed agents have demonstrated higher sales success rates, faster transaction times, and better price achievement.
TwentyEA's data shows that self-employed agents had a 65.2% likelihood of a sale, compared to 53.1% for traditionally employed agents. The analysis also found that self-employed agents completed transactions in an average of 142 days, while traditional agents averaged 152 days.
In terms of price, self-employed agents achieved 97.71% of the price in principle for properties sold, compared to 95.97% for traditional agents. Fall-through rates were also lower for self-employed agents at 21.29%, versus 23.63% for the rest of the industry.
Despite these strong results, self-employed agents currently represent just 2.8% of the national market, according to TwentyEA. However, the sector has seen substantial growth over the past 12 months. Wales recorded the largest increase in market share for self-employed agents at 48.4%, followed by Outer London at 45.3% and the South East at 39.5%.
TwentyEA's analysis highlights ongoing changes in the UK property sector, with agents increasingly exploring alternative business models.
Source: The Negotiator