Collapsing property chains led to agents in England losing £392 million in fees last year, according to Rightmove.
27th Feb 20262 592 1 minute read David Callaghan
New analysis released by Rightmove shows that nearly £392 million in potential estate agency revenue was lost last year in England due to fall throughs.
The portal says 6% of property transactions collapse, and don’t come back to market within 12 months.
While a much larger one in five transactions (23%) initially fall through before later completing successfully.
Fees delayedThis highlights the inefficiencies in the system, Rightmove says, with estate agency earnings fees delayed, and home-movers potentially having to pay more than once.
Last year, it took an average of five months in total for a house purchase to go through the completion process.
And the UK’s largest portal says it strongly believes that further digitisation will enable a reduction in fall throughs.
Earlier this week, it unveiled its own ChatGPT property search app as it attempts to see off the threat from AI.
Repeat costs
Johan Svanstrom, Chief Executive, Rightmove
Johan Svanstrom, CEO at Rightmove, says: “More than one in five (23%) transactions are affected by fall throughs, costing agents either lost or delayed fees and leading to some home-movers paying thousands in repeat costs.
“We believe that further digitisation can help to bring this number down. Addressing it will require government investment, innovation across the transaction process, and stronger industry collaboration.”
The true cost of those collapsed transactions goes far beyond a single lost fee.”
Craig Webster, MD, Tiger Estates
Craig Webster, MD at Tiger Estates in Blackpool, says: “Fall throughs continue to be one of the most overlooked inefficiencies in the residential market, yet they have a significant financial impact on agents, vendors and buyers alike.
“The true cost of those collapsed transactions goes far beyond a single lost fee. When a sale falls through, the agent has already invested substantial time and cost in securing the listing, marketing the property, vetting and managing buyers, and progressing the sale through to and beyond offer stage.”
Tagsfall throughs Rightmove 27th Feb 20262 592 1 minute read David Callaghan Share Facebook X LinkedIn Share via Email
