Agents still wary of jumping ship but belief in self-employed model soars to new high
Despite the buoyant outlook for the self-employed sector IAD UK’s Lee O’Brien says agents remain concerned about leaving the high street.
Three out of 10 UK estate agents believe the self-employed agency model will account for half of the market over the next 10 years, research from global estate agency giant IAD reveals.
But despite the buoyant outlook for the self-employed sector agents remain concerned about the initial challenge of leaving the high street and working for yourself.
SELF-EMPLOYMENT
When asked what is most important to them when considering a move from the high street to a self-employment agency, or from one self-employment platform to another, 16% stated that support with initial set-up costs was what mattered to them most.
Some 12% said that it was important to work under a banner that has strong brand awareness and recognition and the same amount also said that ongoing marketing and website support, both local and national, was also an important consideration.
Lee O’Brien (main picture), Managing Director of IAD UK, says: “The self-employed agency model is still emerging here in the UK and remains an unfamiliar concept for many agents who know only the world of the high street.
“It’s clear to see that some are concerned about their own ability to create and maintain a successful personal brand and desire an umbrella brand to offer support in all corners of the home selling process.”
FINANCIAL SUPPORT
And he adds: “Put another way, they’re worried about money. Will they earn enough, will income be reliable and will they receive financial support when it comes to marketing, lead generation, and listing?
Self-employed agency is not for everyone.”
“Self-employed agency is not for everyone. It’s for people who long for more freedom or a better work/life balance and who are willing to bet on themselves.
“Because if they do, and if they believe in their own talent as an agent, they have the potential to earn more money than they ever thought possible.”
The Neg reported in July how the international estate agency giant had acquired self-employed agency platform David Lee estate agents for an undisclosed sum and was using the business to spearhead its launch into Britain.