Estate agents report increase in profits

One of Scotland’s most successful independent estate and letting agents has reported a 35% increase in profits, bucking the trend in the current challenging and volatile marketplace.

Glasgow-based Clyde Property, which has an office in Beresford Terrace in Ayr, is Scotland’s largest privately owned estate agency which has been at the forefront of the Scottish property market for 25 years and last financial year saw an increase of 11% in property sales and 10% in its letting division.

Gary Thomson, managing director commented: “The Company’s increased profitability was the result of the management team realising that a restructuring of our business model was required to ensure customers received an unrivalled level of service which would in turn deliver continued business growth.

“The past few years have been undeniably challenging for anyone involved in the UK property sector. However, at Clyde we are starting to see a positive change across both residential sales and letting, with general enquiries and the number of sales for the first quarter of 2012 showing a marked improvement.

“Customers are realising that values have levelled and although the market is still ‘price sensitive’ it is now a good time to move, and across all our branches we have seen a noticeable increase in active buyers looking to move in the near future.”

Clyde Property has ten branches across Scotland, from Stirling to Ayr, which are open seven days a week to provide both sales and letting expertise, and Gary Thomson believes that the positive changes to the day-to-day branch operations have proven extremely successful in the current climate and enabled the company to noticeably increase its market share.

He said: “By taking measures to help us deliver improved efficiencies for our customers, and believing that reinvesting in the business would yield dividends, we have achieved strong profits and a strengthened balance sheet, which has resulted in exceptional results in what is still a competitive and fragile environment.

“Our teams across all offices consistently deliver the highest level of service and with local knowledge, good ‘old fashioned’ hard work and attention to detail, I am confident the business will continue to build on recent success.”