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Around 10,000 jobs lost in estate agency industry

A TOTAL of 3,000 estate agencies in France closed in 2012, putting around 10,000 people out of work, claims the French National Association of Estate Agents (FNAIM).

There was also a 18.6% fall in the number of older property transactions, resulting in 655,000 sales in 2012 compared to 805,000 in 2011.

The number of agencies closing is 10% of the total number in France, with an estimated 80,000 people working in the industry.

FNAIM say the decline is worse than the problems faced in 2009 when the economic crisis first took hold, with sales predicted to fall below 600,000 in 2013.

Related: New build home sales fall more than 30%

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Mark Bennett

Oh I feel so sad for these people losing their hard earned 7-9% commission for making a few phone calls.

Hope the internet house sales takes off more in France and with competition a more reasonable 1-2% commission comes along.

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