UK’s online estate agents begin to squeeze bricks-and-mortar rivals

“What does a (traditional) estate agent contribute?” A growing number of people are being attracted by the cut-price fees of online estate agents in Britain. The sector has caught the eye of big-name investors like fund manager Neil Woodford and traditional branch-based agencies which once dismissed online rivals are having to react. “You’re (either) watching and wondering what’s going to happen or you’re going to step in and take action,” says Ian Wilson, chief executive of estate agents Martin & Co, which has over 300 offices and in September said it would buy online rival EweMove.

Original story here.

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