Online estate agencies have seen huge growth in popularity in recent years and are now becoming a legitimate threat to the survival of the high street estate agent.
With a high street estate agency typically charging around 1.5% of a property sale price, a house that sells for £250,000 would command estate agent fees of £3,750. When you compare this with packages available from online estate agents for as little as £400, it’s little wonder that some online estate agents are reporting a huge surge in customers.
There are, however, some downsides of using an online estate agent that you should consider:
- Viewings – With a lot of online estate agencies you will be expected to conduct your own viewings. Selling a property is a skill that shouldn’t be underestimated and a lot of this is done at a property viewing, so only take on viewings yourself if you’re confident that you’re the best person for the job. Some online estate agencies do offer accompanied viewing s for an additional fee, so if you’re not confident about hosting viewings yourself that’s definitely an option that it’s worth looking into.
- Limited local knowledge – Online estate agencies are usually run from a national call centre, so their local knowledge is likely to be limited and a lot of their valuation procedure is likely to be conducted using online data. If you’re not sure of the value they’ve placed on your property it might be worth asking three local estate agents to value your property before deciding on the right property sale route for you.
- Reliability and experience – Anyone can set themselves up as an online estate agent so make sure you research any company you’re considering using thoroughly. All agents are required to be members of one of three grievance bodies, but these bodies have limited power so choose any estate agent wisely and, if possible, get recommendations.
If you’re looking to achieve a quick and easy property sale, another great option for selling your property online is to use a cash home buyer. Quick Move Now, the UK’s leading homebuyer, could buy your home for cash in as little as 7 days, offering you a secure, hassle-free and guaranteed house sale.