The Estate Agent Cull Begins

Waaaay back in September 2006 we linked to a story that indicated that were double as many agents in SA as there needs to be. Despite having 77 000 - 80 000 Neville McIntyre, chief executive of Jigsaw Holdings (which includes estate agencies Aida and Realty) said the market can only really support 36 000.

Today in Business Day Herschel Jawitz, CE of Jawitz Properties states he believes there will only be a decline in about 10 000 - 15 000 agents. However Lew Geffen of Sotheby's International Realty repeated Neville McIntyre's conclusion:

I think by year end there will only be about 36000 estate agents