The estate agent company The Joneses has officially liquidated – a true sign of the times. The company offered flat fee real estate services to their clients, allowing it to become a well known. Although the company was well known, it was often for the wrong reason. Many critics were in place of the company, claiming that its flat fee service undermined the benefits of the service the company provided. Much criticism was delivered in an "I told you so" type of way.
The company turned to voluntary liquidation as of Monday morning.
The news of the company's liquidation was a shock to the staff and to clients, none of whom saw this coming. The company has contacted each of their clients, offering them other realtors to provide necessary services.
The fall of the Australasian markets has been seen as significant. According to the latest reports, the Reserve Banks increase of interest rates and its inability to provide affordable housing to its people has allowed the market to fall considerably. All indications point towards the market especially that of the Australian property market to be slowing.
Experts have weighed in on how homeowners should consider this market. Many of them are unable to invest in the housing situation and others, who would like to, cannot do so with the current trend of costs.