This article was first published by REB Online 1st November 2016.
With the property market moving through a slower cycle, one factor is causing agents to assess their current arrangements and look to move.
One Agency’s John Stewart says there’s no doubt markets across the country are getting “substantially tighter” and volumes are down.
As a result, individual office owners are assessing how they can keep their costs down in a bid to survive when they’re earning less.
“You can cut all the costs to run the offices as much as you like, but if you’re still paying out $100,000 or $200,000 in fees to a franchisor, it’s pretty hard to stay alive,” Mr Stewart said.
In addition to assessing the costs of their current arrangements, Mr Stewart said agents are constantly looking at “ways of remaining effective, being professional, but saving money”.
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