Financial Institutions and the Estate Agents Industry in the 1980s

The changes which have taken place in the estate agents industry in the 1980s have transformed it from one dominated by small local firms, to one where the major participants are large national financial institutions. Concentration in the industry has increased substantially over the decade and entry conditions are such that it is unlikely to decrease in the coming years. The main reason why the institutions have entered the industry appears to be to market their other services through estate agents. This situation raises problems in terms of whether agents will act in the best interests of their client.