Technology threat to Estate Agents

My Higher Business Management and Intermediate Business Management classes are both currently looking at Business and ICT and this story from todays Sky Business provides a slight twist on what we have been studying. We have looked at the importance of ICT in businesses and the role it plays in developing markets, encouraging new and existing customers and cutting costs.

However, the National Association of Estate Agents today announced that due to the popularity of on-line property websites like Rightmove, the days of the high street estate agent may be numbered. In the last 2 years, one in four UK estate agents have closed down yet the online property market has seen a 35% growth and most homes on the market can now be found online.

TV presenter Sarah Beeny who presents property programmes has set up a free website to help homeowners sell their property without having to pay out the huge fees often associated with moving. She says that selling your house online can be quite straightforward.

Has the improvement in ICT changed the estate agent market for ever?