Lockdown casualties: smaller estate agencies close shop
National Property Forum says nearly 500 of its 900 principal agents will not be in a position to reopen
As tens of thousands of property practitioners return to work this month, the National Property Forum says many small agencies have closed down since the Covid-19 lockdown started in March.
NPF president and founder Leo Mlambo says most small or one-man-run estate agents, especially those that are black-owned, have had to shut their doors.
“Many were surviving from sale to sale every month. They will sometimes sell one house, which was enough to cater for their monthly expenses,” said Mlambo, whose organisation represents about 900 principal agents who give jobs to about 4,500 agents...