Letting & Estate Agent Podcast The future of cheap fee Estate Agency - Ep. 2388
Nov 15, 2025
In this engaging discussion, Richard Hayes, COO of Zoopla, shares insights on the future of low-fee estate agency. He emphasizes that fees may have hit rock bottom and explains how agents can boost profitability by focusing on value and service. Richard discusses rising operational costs and the importance of using data and AI to justify fee increases. He emphasizes that consumers prioritize expertise and insight over low fees, and outlines Zoopla's initiatives, including masterclasses to help agents adapt and grow in the evolving market.
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Fees Have Likely Hit Bottom
- Fee erosion appears to have stopped and agents are reaching a bottom around ~1% or slightly below.
- Richard Hayes believes the only way now is up, allowing agents to improve margins by prioritizing value over volume.
Prioritize Value Over Volume
- Focus on service, data and experience to justify raising fees and retain better instructions.
- Accept fewer instructions if they deliver higher margins and allow more time to see them through to sale.
Portals Should Support Profitability
- Zoopla sees itself as a marketing partner that can help agents become more profitable beyond just listing exposure.
- Better pricing, targeting and data usage are critical for new fee structures to work.