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Property Stocks Down Under 25 January 2023: McGrath (ASX:MEA)
McGrath: A company to avoid as long as the property downturn persists
It has been a while since we looked at McGrath (ASX:MEA). This company is best known for being a real estate agent, although it also runs other real estate services, including property management, auction services and even in-house mortgage broking services. The parent company has three sources of revenue: from fixed percentages of total commissions, an ongoing marketing fund contribution (again based on total commissions) and a fixed percentage of the franchisees’ property management fees.
Click here to read the previous edition of Property Stocks Down Under published 18 January 2023.