Bridging The Way Forward As Mortgage Brokers Fear Jobs Cull

Bridging The Way Forward As Mortgage Brokers Fear Jobs Cull


The grim reaper is continuing to float perilously close to the real estate market as property brokers and investment bankers have begun to sense the immanent cull on the horizon.

What was once a high-flying secure market has now become a nervous anxious arena, with a vast number of real-estate dealers fearing the similar financial disease that afflicted the banking sector earlier in the year.

With rumours spreading of up to an excessive 5,000 job losses within the largest real estate employers, brokers will breathe a brief sigh of relief as wholesale redundancies are not a given as Eastern European and Russian markets demonstrate the potential to bloom.

Figures released from Cushman & Wakefield revealed that many European fee-earning brokers and support staff feel pressurised due to European property trading volumes slumping a staggering 63% year-on-year to £20.2 billion.

Adaptation has been the buzz word in the markets with an emphasis placed on catering for the increasingly challenging market conditions. It’s clear that the industry requires strategic cost-cutting management as the leasing market continues to wilt, and firms may look to redeploy staff to other outsourcing areas.

Whilst this news comes as no surprise, the European markets appear to be deteriorating swiftly and as it sinks it’s likely to take jobs with it, a view shared by British Property Federation Chief Executive Liz Pearce. “Property is a cyclical business and contraction will be inevitable as firms look to be more streamlined.”

Even if the market faces a modest redundancy hit, the current dilapidated state of the property broker market, which is predicted to continue well into next year, merely adds to the attraction of the vibrant bridging and commercial market, currently in a much healthier condition.

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