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Dead Weight Cost of Estate Agency.

Posted on the 13 September 2013 by Markwadsworth @Mark_Wadsworth
The just released ONS Labour Market Statistics  here, shows an increase of 15.9% in one year, in the number of people working in real estate activities. The total now standing at 562,000.
Tracking back further to 2001, it seems this figure is twice as high now as it was then. Property values have nearly doubled in this period. Coincidence?
How is it the the free market hasn't competed away the extra commission by the lowering of fees? It appears that estate agents must content with less turn over.
If we had a 100% LVT what would this do to the number of estate agents/property management companies?

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