Commercial Agents Feeling the Crunch

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There has been yet more gloomy news recently for the world’s top property agents with CB Richard Ellis and Jones Lang LaSalle reporting a continued fall in profits.  Figures from the New York Stock Market last Tuesday revealed that since the second quarter of last year, Ellis’s profits have dived from $141.1m to $16.6m whilst Jones Lang LaSalle have seen a drop from $77.9m to $24.5m. These figures show a shocking 88% fall for Ellis and a 69% for Jones La LaSalle, further redundancies continue to loom on the horizon for both international giants.

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