Traditional Estate Agents vs Online Agents
Following a recent piece in the Bromsgrove Advertiser highlighting the differences between online and traditional estate agencies, please find here a summary of the article.
- - Online Estate Agents constantly shout about their no commission sales pitch. However, there’s more to this than meets the eye and you should always read your contract thoroughly before signing on the dotted line.
- - Traditional Estate Agents sales rates are much higher than online agents. High street agents sell 84% of their property stock compared to often less than 60% and in some cases 50% for online estate agents.
- - Online agents normally request a fee up front whether you sell your property or not. Traditional Estate Agents will only get paid if they sell your home. Hence, do online agents actually have an incentive to sell your home? A traditional estate agent will continue to work for you until your house is sold, otherwise they will not get paid.
- - A lot of sellers revert back to the traditional high street agent when their property hasn’t sold via the online route.
- - Online agents may have hidden costs in their fees that a traditional Estate Agent may not charge you.
- - Online agents may do your valuation via a call centre rather than good local knowledge; hence your valuation may not be a true reflection of your property’s worth.
- - With an online Estate Agent, you will have to do a lot of the selling yourself, for example, arranging and conducting viewings. A lot of vendors just don’t have the time for this.
- - You may not get a for sale board or newspaper advertising with an online agent, hence reducing your visibility to drive by and walk by traffic.
To conclude, traditional estate agents are better at selling houses for many reasons not limited to those listed in the article. Estate Agency is a people business and your traditional Estate Agent will work for you until you sell your house and is hence best placed to market your property for you.
If you’d like Robert Oulsnam & Company to value your house, please contact us today.