Estate agents are dead – long live estate agents! This is the message being pushed by most modern ‘online estate agency’ services these days. They promise a quick property sale, they say they are fast property sellers on their websites; however, examining closer, what exactly are online estate agents? We have put it to the test.
For a number of years the traditional estate agency market has been failing. This is mainly down to the internet, and the way in which information is shared. Information that most estate agencies didn’t want you as a seller finding out. The fact is that estate agents don’t really do that much. Typically a traditional estate agent will ‘guess’ how much your home is worth, take a few photos, and list it on Rightmove and /or Zoopla.
If your property is advertised at the right price, is in a sort after location and is in a fair condition, really the property sells itself. The estate agents role in all of this is really minimal. With the help of the internet, most homeowners now know this fact, and instead of paying around 2 per cent in estate agent fees – they now opt for ‘online estate agent’.
So what is so different about an online estate agent to a traditional one, let me explain it in 3 simple bullet points.
Modern online estate agents will charge you an upfront fee of around £300 to sell your property. A traditional estate agent won’t charge you anything upfront but will expect you to pay in the region of 2 per cent of the value of your home on completion. The more your property sells for the higher this figure becomes.
Typically with a traditional estate agent, any viewing that you may have on your home, the agent would show the interested party around. With an online agent, you are required to do a bit of work. You will need to do all of your own viewings.
- Boards and promotion
Online agents will probably not be too concerned about putting a board up outside your home. Some of them may offer this as an added extra, but 9 times out of 10 its not essential. Traditional agents rely on people viewing their boards, and will insist you put a board up.
I’ve been promised a ‘quick sale’ from my online agent, can they deliver?
This is a question that I get asked all of the time, and something that really needs addressing in the property sale industry here in the UK. For starters, no estate agent, be it a traditional, online, hybrid or other; can offer you a guaranteed quick house sale.
No agent is able to offer you a quick property sale as they don’t know if anyone is willing to buy your home. It’s a simple fact, however most agents especially online company will still state that they can offer you a quick sale. The reality is that you are at the mercy of the open market, any you are relying on someone seeing your home and making an offer on it.
The difference to an online agent and a cash buyer is that a cash buyer like us, will be buying your home directly from you. We won’t be listing it on Rightmove, or putting it in an auction. If we make an offer it means that we want to buy it and that we have the cash waiting to proceed.
You get the sale you need, and it’s really the only way of guaranteeing a quick property sale.
If it’s an online estate agent you are after, I suggest you try out the following:-
For more advice on this subject or for any other information why not speak to our highly qualified and professional team waiting to take your call NOW!