Online estate agents are capturing a bigger share of house sales in the UK every year. But are they really better than a traditional agent?
Put simply…yes! We believe an online estate agent is always going to be better. But that would be cheating wouldn’t it! We’re here to find out the facts. Is it actually is better to choose an online estate agent over a traditional estate agent? It’s up to you to make up your mind and lead the revolution.
Test 1 – The Convenience Test In the old days selling a house was a very different process. A house seller would get a few quotes from local agents. These would range from 1% to 2% or sometimes even 3% (if you’ve encountered anything larger than 3% please let us know). The agent would then perform a valuation on the property. It was the same for the house buyer. A buyer would take a trip around town looking for a sale board in the area they like. Maybe open the paper and start calling. The whole process took time which only increased the stress of house hunting. These days it’s very different. 80% of house buyers go online before they even step foot into an estate agents office. With 80% of buyers already online, our services are geared up to show your property to these buyers. Now we do still think that nothing beats driving around on a sunny day looking for sale signs. That’s why we include them with every sale. But now a potential buyer doesn’t have to leave the comfort of their own living room. The same goes for the seller. Why wait until the local agent is open for business? You can place an order and start getting your property marketed any time day or night or get an in depth property valuation by the click of a button. Online estate agent – 1 Traditional – 0
Test 2 – The Quality Test With 80% of house buyers choosing to turn online for a property (and this looks set to increase), property portals are the perfect way to help interested buyers find you. As an online estate agent we are constantly looking for new ways to market your property. We are members of all the major property portals such as Rightmove, Zoopla, Prime location and Needaproperty. It is now a necessity to advertise using these techniques. It still makes us laugh when some estate agents try and sell your house using just one portal or, worse still, none at all. This is a criminal waste of your time and energy. The aim of the game is not to promote ourselves with fancy offices and fancy cars. The aim is to sell your property as fast as possible and for the price you want. Granted this is not always possible. However it seems many estate agents are more concerned with what you can do for their bank balance than actually selling your house. Online Estate Agent – 2 Traditional Agent – 0
Test 3 – The Viewings Test We argue, and with good evidence, that viewings are better performed by the person that knows the property best….the seller. How many of you have been shown a house by an agent who knows nothing about the property and has no interest in you as a buyer? This is where the strength of the online estate agent shines. The house seller and the online agent work together to organise the viewings. The online agent does the admin the seller does the viewing. What’s the advantage? The seller knows the property better than anyone and is the only person who can tell buyers what the property is like to live in. Online Estate Agent – 3 Traditional Estate Agent – 0
Test 4 – The Price Test With a traditional estate agent you will be charged a fee on the price of the sale. On average this is 1.5%. With an online estate agent pricing structures are more flexible. In the case of Zevizo Properties you get 2 options to choose from: Option 1: A fully upfront payment of £445 excluding vat with nothing more to pay. Option 2: No upfront fee and £995 on completion. On a typical property at £160,000 that’s a saving of over £2000. If someone told you could save £2000 on a car or a holiday it would be the obvious choice. For those thinking “but I don’t want to pay a large upfront fee”, Option 2 is perfect for you. It is slightly more to pay in total however the fee on completion of £995 will still save you thousands compared to the average traditional estate agent. Online Estate Agent – 4 Traditional Estate Agent – 0
Test 5 – The ‘I want use another agent at the same time to maximise my chances’ test With Zevizo Properties, should you choose the most cost effective option (Option 1 – £445), you get a multiple agency contract for a full 12 months. So you’re free to try another agent and increase the chance of finding a worthy buyer. A traditional agent on the other hand will offer your contract usually on a Sole agency basis for a 16 week period. This severely limits your marketing efforts. Online Estate Agent – 5 Traditional Estate Agent – 0
The Final Result Online Estate Agent – 5 Traditional Estate Agent – 0 It’s not looking good for the traditional estate agent at 5 – 0. It seems the tide is turning. This is not to say that the traditional estate agent is dead. However the average traditional estate agent is. The kind of estate agent that doesnt return your calls or the kind of estate agent that charges anything over 1% has had its day. For more information on the benefits of an online estate agent why not chat to our team on 0800 228 9012 or organise a valuation today.