New figures reveal how profitable estate agents are
Data from Company Insight shows independent agents are achieving profit of more than £56K per employee and confirms Connells as the UK's biggest agent.
Independent estate agents are earning up to £56,000 for each employee, new figures show.
A health check of the finances of more than 45 estate agents by data firm Company Insight also reveals that almost all of them had increased turnover.
The findings confirm that Connells Group, which includes Countrywide, is the largest estate agent by turnover. It also operates the most offices, 1,250, which is more than double anyone else.
Connells announced last that it had maintained its 10% market share, and that it had a sales pipeline up 11% on the previous year, showing continued strong buyer demand.
Operating margins were healthy for the majority of estate agents, although Purplebricks and Yopa continued to post losses. Purplebricks is, of course, currently, up for sale and has revealed it is in talks with rival Strike about a possible deal.
Largest profit
London-based businesses have the highest turnover per office, the data shows, with the average of all companies analysed at £733,409.
Dexters has the largest profit per office of the companies analysed (and top six – on this metric – are independents).
Dexters snapped up fellow London agent Marsh & Parsons from LSL Property Services for £29 million earlier this year, making the combined group the biggest estate agent in the capital. The deal added 30 offices and over 300 staff to the Dexters portfolio.
Data was compiled by Company Insight from groups, subsidiaries, independents and online estate agents, and can be used as a ‘benchmarking tool’ to assess performance.
