Online estate agents grow while the high-street struggles

Online estate agents grow while the high-street struggles

There has been no shortage of recent headlines stating that thousands of UK high-street estate agents are struggling financially, with new data from Moore Stephens indicating that more than 7,000 UK estate agents currently show signs of financial distress. But amidst profit warnings from some of the UK’s leading high-street agents, online agencies, such as new online buy-to-let estate agency yieldit, are experiencing positive growth.

The company has reported that it has sold over £13m worth of buy-to-let property and increased its portfolio of available properties by 22.4% in the first six months of the year.

yieldit specialises in the sale of tenanted, income-generating buy-to-let property from investor to investor, with its online service tailored to the needs of buy-to-let property investors. yieldit provides a full financial breakdown of each property they list which is available to view for free online, something that puts it ahead of other agencies.

Head of Sales at yieldit, Ryan Hughes, said: ‘We are happy to report a strong first half of the year for both sales and new instructions. Despite reports of a troubled property market we have experienced no slowdown in landlords looking to buy and sell property.

‘We believe that our unique and transparent reporting of financial information for each property has appealed to investors who are remaining in the market, but exercising more caution. A changing buy-to-let landscape makes it more important than ever for investors to have accurate and clear financial information before making a purchase.’

yieldit provides a bespoke and streamlined service which offers the public greater choice and a higher level of buy-to-let expertise than they can get from a traditional high street agent.

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