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TODAY'S OTHER NEWS

Agents transferred to rival as prominent firm quits resi property sector

The eight strong residential estate agency team of a prominent Scottish law firm is being off-loaded to a rival, according to press reports.

Morton Fraser’s resi team will now work for Edinburgh estate agency Coulters, in which Morton Fraser has taken a minority stake.

Morton Fraser itself will now concentrate more on private client legal work.

Chris Harte, chief executive of Morton Fraser, says: “Being an independent firm means we have the freedom to determine what investments will best serve our clients and our people. The estate agency sector is increasingly competitive and requires a single-minded commitment to a consumer brand. It also means our talented team will be given the opportunity to contribute to a growing business in a way we could not realistically have offered.” 

Ben Di Rollo, head of business development and marketing at Coulters, adds: “The combination of the Coulters brand and success story with the great team from Morton Fraser will undoubtedly have a positive impact on a sector which is traditional in nature.”

This is the latest part of a shake-out in the Scottish agency industry.

Recently the Glasgow Solicitors Property Centre - which at its zenith has around 200 solicitor and/or agent members - closed with the loss of nine posts.

Early this year the Edinburgh Solicitors’ Property Centre - which for trading purposes included the Glasgow SPC - reported a loss of over £77,000, compared to profits of over £950,000 the previous year. 

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