Corporates attacked for 'swallowing up' agencies with great pedigrees

Independent high-end estate agency Galbraith, which operates mostly in Scotland, says local knowledge is key to good customer service - and might be lost when smaller agencies are swallowed up by corporates.

In a statement released this week the agency says Brexit and tax issues have knocked the Scottish property market of late, but says this can be overcome for clients by the use of strong local knowledge and expertise. 

It then notes recent deals which have led to national firms being taken over.

“The acquisition of Strutt & Parker by French bank BNP Paribas is the latest in a series of such takeovers which have [also] seen the disappearance of Smiths Gore to Savills and Cluttons to Rcapital. These long established firms with great pedigrees have been effectively swallowed up by big corporate businesses and have lost their identity” says the firm.

Galbraith describes itself as “one of the few remaining truly independent Scottish property consultancy firms” which has recently rebranded “to reflect the firm’s strength and independence” in the marketplace. 

It adds: “The firm has no shareholders and is a partnership built upon client service and partner/client relationships, which is becoming increasingly rare these days with the drive to maximise returns to shareholders.”

Galbraith reports a 10 per cent increase in sales over the second quarter of the year compared to the same period in 2016, and is currently handling over £40m worth of property transactions.