Traditional estate agent Vs Online estate agent
The big debate currently consuming all property experts, home owners and potential buyers- who do I choose to sell my house with? A tried and tested high street estate agent, or take a leap of faith and leave your most prized possession in the hands of an online company?
To avoid being COMPLETELY biased, we have noted some of the benefits of using online estate agents but also why you can never go wrong with traditional- just like us!
The main benefit of online agencies, at first glance, is the cost difference. Usually, this is a one off, upfront cost that is paid before any work has been completed. This can be in the region of £500 to £900. A downside of this, means that it is payable regardless of whether the property sells or not. This means that it can appear cheaper, although factors such as the economy and housing market can determine whether or not your property will actually sell. According to a recent survey, 78% of sellers would rather get a higher price for their property than pay a smaller fee – not surprisingly, you get what you pay for!
As everyone knows, one of the most integral part of buying/selling a house is the viewings- these can make or break a deal- which is usually why homeowners choose to let the estate agents deal with this aspect, after all they are the professionals. If you were to choose an online estate agent, you may be required to carry out these yourself, which can be daunting for some people. Although it may allow you to form a relationship with potential buyers.
We all know that the slowest part of the house purchase can be the legal delays. An online estate agent cannot call a buyer’s lawyer to push along negotiations, only a property professional can do that. This means that the whole process could be pushed back hugely and you may not benefit from the added service you receive from traditional estate agents.
According to Which analysis, online ‘local property experts’ are often located in a call-center’s miles away from the property they are selling, whereas high street branches are on average less than two miles away from the homes they sell. This means they have in depth knowledge of market trends and pricing for that specific area, meaning that they can offer the highest level of service.
All in all, we think these points speak for themselves so remember to consult the experts before taking your first steps to a new home.