McGrath Limited (ASX:MEA) has announced its full year results for 2017, will be below analyst’s expectations.
The real estate agency says it’s finalising its first half trading results, which will be in line with estimates, while the second half results will be weaker.
The agency says it’s seeing unprecedented low volumes of listings, and a large amount of agents also leaving the business.
It comes as McGrath grew its market share in two thirds of its total offices for the 2016 financial year.
McGrath reported a net profit of $8.41 million at 30 June 2016.