After a few years of euphoria on the real estate market, how will the networks of agents, which have continued to multiply, resist the downturn in the market? The point on the question with the results of the study carried out by Xerfi and entitled “Networks of real estate agents by 2024 – What prospects and strategies in the face of the downturn in the real estate market? “.
Between the rise in mortgage rates, which could very well be close to 3% this year, pressure on household purchasing power and the lack of goods, the French real estate market is marking time. ” We therefore anticipate a decline in transactions of 10% and 2% respectively in 2023 and 2024. », declares Lauric Berthier, in charge of studies at Xerfi. While 75% of agent networks were created after 2010, this new economic situation could constitute a challenge and a test for many of them who have never experienced such a situation since their creation.
However, Xerfi’s study is nuanced: ” Despite this sluggish environment, agent networks should continue to nibbling market share to represent around 20% of transactions in 2024, i.e. 14 points more than in 2012. Untapped growth potential, investor support for development large networks but also ambitious deployment objectives will indeed stimulate the activity of the profession “says Lauric Berthier. The proxy networks should thus continue to do well by 2024 even if the growth in their turnover should slow further, with an increase of 15% in 2023, then 12% in 2024.
Expansion of agent networks held back by economic conditions
While between 2011 and 2022, nearly 11 new networks of agents entered the real estate market each year on average, the downturn in the real estate market could now change the situation. And for good reason: the rapid growth in the activity of agent networks, boosted by a booming real estate market, has attracted a number of new entrants in recent years. ” In a context of marked decline in real estate transactions, many agents could be weakened, especially beginners. The failure rate, already structurally high, will therefore potentially increase in 2023-2024 and will slow down the expansion of brands », Analyzes Lauric Berthier.
Another consequence of the bad economic situation: the salespeople currently working in traditional agencies and who were planning to rely on a network of agents could tend to postpone this project and temporarily prefer the security of the workforce. Good news for real estate agencies who often have difficulty recruiting.
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