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Online agent market share hits new low

The market share of online and hybrid agents has continued to decrease this year but self-employed agency is growing.

Data from Twenty EA shows exchanges among the hybrid sector dropped to 5.2% in the first  quarter (Q1) of 2024 from 6.5% this time last year.

It comes after this cohort’s market share hit a high of 8.2% of exchanges in 2019.  


However, self-employed agents have continued to gain momentum and accounted for 34% of new instructions in the first quarter across all hybrid agents - up from 25% in the same period last year.  

In total, hybrid agents launched 5% of all new instructions in Q1 24 compared with 5.9% in Q1 23 – a drop of 15% but this hides the gains made by self-employed agents. 

They launched 1.7% of all new instructions in Q1 24 – up from 1.4% in Q1 23 – a rise of 18%.

The findings are part of the latest Property and Homemover Report which shows that as a category, online and hybrid agents’ penetration across all property values has continued to fall. This is particularly evident at the higher end of the market but even among properties of £200,000 or less, market share for exchanged properties is still down by 10%.

Katy Billany, executive director of TwentyEA, said: “Self-employed agents continued to gain momentum year-on-year despite hybrid agents continuing to lose market share overall. This downward trend has hidden the growth of self-employed agents - a sub-group of hybrid agents – who are demonstrating rapid growth within their sector.  

“Currently we do not see hybrid agents posing a significant challenge to traditional high-street agents but that could change if the self-employed model continues to grow in popularity. 

“With increasing change within the market, it’s important agents are continually working to build a competitive edge. One of the most effective ways to do this is by having the latest expert data-based insights at hand. Agents must monitor key performance metrics and use them to make informed strategic decisions.” 


  • Where Is The  Monii Money

    I'm not convinced that the definitions and categories are clear. It was Voltaire who said, “If you wish to converse with me, define your terms.”

    Online seems self-explanatory. This is an estate agency that operates exclusively online without any physical highstreet presence.

    Hybrid is slightly confusing. My interpretation is that it's both online and has a physical presence. This sounds like every single traditional estate agent operating today. They have an office and a website or indeed, have an office and use a property portal.

    The self-employed module feels even murkier being a mangled mixture of traditional, online and hybrid estate agencies. I think you have to separate how each business operates as the self-employed definition seems a bit loose.

    For example, my local estate agent is self-employed with a physical office and an online presence. Ridiculously, he can appear in all of these categories!

  • Andrew Stanton PROPTECH-PR A Consultancy for Proptech Founders

    Aren't all agents online?


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