Author Topic: Why no one will use traditional Estate Agents in less than 10 years  (Read 16200 times)

0 Members and 1 Guest are viewing this topic.

New Home Expert

  • Global Moderator
  • Expert
  • *****
  • Posts: 958
  • Country: england
  • Expert advice for new home buyers
    • New Home Blog
The Internet is a modern marvel.  Instead of traipsing around for shop to shop looking for what you want, you can find it is seconds online from a variety of retailers and it can be delivered to your door in just a couple of days. Even with postage charges, which are often free (included) you usually pay at lot less than you would if you went to the high street shops.

The same is true when looking for a home.  The first point of call for would-be buyers are now the large online property portals of the likes of Rightmove, Zoopla and Prime Location.  There is no longer a need to visit an area and register with several individual estate agents, with no guarantee that they will forward any properties you may be interested in.  Even if you register with them online, most won't contact you after a few days unless you keep on at them!

The use of cheap online estate agents is growing.  Around 5.5% of houses are sold via new, ver cheap online agents - up from near zero just 10 years ago. It is thought that by 2020 around 70% of homes will be sold online and it is not hard to see why!

The traditional estate agents charge a percentage fee of between 1 and 2% of the sale price plus VAT. This can be a total of £6,000 (including vat) for a home that can sell for £250,000 in a matter of days, sometimes before they even put the property in their window!  The way their fees are charged is ridiculous.  Why is it fair to charge £20,000 for selling a £1million home in London and juts £2,000 for a similar £100,000 home in Bury?  Same level of expertise required, same effort.  The only difference being you are paying for their swanky London offices, luxury sports cars and high salaries!

Selling online can be done for a flat fee, typically around £500.  For that you get advertised online and listed on the aforementioned property websites,  floor plans,  photos and an Energy Performance Certificate. The seller does the rest, which they often do anyway as they know their homes and area better than any estate agent ever will! No one is going to be more interested in selling your home as you are. For more on selling your home using an online agent
New Home Blog - New Home Expert is committed to providing help and advice for people having issues with their new homes and difficulties with house builders as well as helping potential buyers reduce the risk of possible problems if they do buy.