The recent article in the Daily Telegraph would suggest that there are testing times ahead for Residential Estate Agents.
There is an increasing importance of search engines such as Rightmove and online Agents such as Purple Bricks, there is apprehension that a similar trend could also affect the Commercial Agency market.
The main difference between the two markets is of course, complexity. A significant number of commercial deals are complex and involve firms and agencies who have long term relationships with Clients, rather than one off instructions.
Commercial Clients also expect personal service and reasoned advice, rather than a pure marketing exercise.
We think the conclusion therefore for the commercial market is, the internet and the web are tools for Agents and they are obviously here to stay, but will never fully replace them because of the intricacies of the market and good old fashioned Client service.