Well-Established Estate Agency Ceases Trading Blaming Rising Costs

An estate agency in Norfolk has ceased trading, after the owner of the company decided he was fed up with increasing costs and ever-more rigid compliance requirements.

Trett Phillips Residential, which has branches in Stalham and Aylsham, said it had been forced to close after a number of “challenges” had made it impossible for the business to continue.

In an email sent to its clients, the estate agency’s owner, Daniel Trett, said: “We are in an ever-changing landscape, with costs rising, compliance getting more rigid and technology advancing, therefore running an estate agency business has shown its challenges in a changing economy, and indeed, an official recession.”

He added: ““It has been a very tough decision to make, but the time is right for me to pass the reigns over to someone who can move the business forward.”

Trett Phillips Residential’s portfolio has been sold to Minors and Brady, which Trett describes as a “good fit” for the business.

“I have enjoyed the journey the business has offered me, but it is time to regain control of my life and begin to focus on a new chapter,” he added. I will be forever grateful to all of my clients and employees who have supported me with this.”

Daily news email from EYE

Enter your email below to receive the latest news each morning direct to your inbox.