This is a collaborative post.
The estate agency sector has undergone a transformation over the last few years. Online, fixed price estate agents have been making inroads into the housing market. They offer lower costs and fixed prices which make them attractive to sellers. The most popular ones currently on the market are YOPA, House Simple, and PurpleBricks.
What is an online estate agent?
Until the next evolution of house selling, where people circumvent estate agents altogether, online estate agents look set to grow their market share. The biggest attraction is their fixed fees and no sale no fee offers.
Much of the process remains the same. The online agent will advertise your property, arrange viewings and field offers on your behalf. A Conveyancing Solicitor will still be needed for the legal paperwork on buying and selling. It’s more accurate to call them “hybrid” agents as they still have a good deal of face to face contact with clients.
What to look for in an online agent?
As with traditional estate agents, there are good ones and bad ones. You need to do your homework before you decide who to choose.
- Do they have all of the necessary qualifications and accreditations?
- Are there any hidden costs or additional extras?
- Do they have local property experts?
- Are there any conditions you need to be made aware of? Some estate agents only guarantee their pricing if you use their recommended or in house services.
Advantages of using an online estate agent
The main advantage of using an online estate agent is the cost. Their reduced overheads and dispersed workforce enable them to offer excellent fix-cost pricing. You could potentially save thousands of pounds when you sell your property.
Flexibility. You can manage your entire account online through an app or web portal. Perfect for those who are looking for an adaptable, modern way to sell their home. You can see everything that is happening with the sale of your home, contact your property agent, and submit any paperwork.
Transparency of pricing. All online estate agents list their fees in detail on their sites. It is one of their main selling points.
Even in their short time on the market, online estate agents have evolved to meet the concerns of potential customers. Initially, sellers were left to show properties themselves. Now, a good online estate agent will have a range of property experts who specialise in knowledge of your geographical area.
Some people are always going to want to use a traditional estate agent. It’s what they are comfortable with and how they prefer to do it. Online estate agents are changing the market and promoting competition, which can only be good for customers.
When deciding on an online estate agent, research who has had success in your area with similar properties. Get a personal referral from a friend or family member if you can so that you will have peace of mind in the company you are trusting to sell your property.