Traditional estate agents are being outperformed on key sales metrics by self-employed agents, although they still only account for a small but growing sector of the market, it has been revealed.

The analysis, which was carried out by the property data firm TwentyEA, found that those types of agents had a 65.2% likelihood of a sale compared to 53.1% for traditionally employed agents.

Faster sales

They also completed transactions more quickly, averaging 142 days against 152 days for the rest of the industry.

In addition, TwentyEA’s analysis shows self-employed estate agents achieved 97.71% of the price in principle of the properties they sold, whereas traditional agents achieved 95.97%.

Fewer fall-throughs

Fall-through rates are another area where they performed strongly, which were at 21.29% compared to the standard 23.63%.

The self-employed sector, however, remains a relatively small part of the wider market, with TwentyEA’s figures showing its national share is just 2.8%.

The analysis also found, however, that there has been substantial growth in the sector in the past 12 months. Wales was the region that saw the largest increase in market share at 48.4%, followed by Outer London at 45.3% and the South East at 39.5%.

Agents are being drawn to models that offer greater flexibility, stronger earning potential and more control.”

Nick Huntley (pictured), Director of TwentyEA, says the figures reflect how the sector is changing as agents increasingly explore alternative business structures.

“The self-employed businesses tell us that agents are being drawn to models that offer greater flexibility, stronger earning potential and more control.

“The data provides a fascinating insight into how the sector is evolving across the different key metrics, such as region and price band.”