How Much Money can you Save with an Online Estate Agent

If you’re looking to buying or sell your house, are you aware how much money you can save with an online Estate Agent? I’m guessing no – but tha...

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If you’re looking to buying or sell your house, are you aware how much money you can save with an online Estate Agent?

I’m guessing no – but that’s fine, because not many people have. However, you’ll be kicking yourself if you don’t look into it, as the benefits of using an online estate agent are not just financial.

Online Estate Agents offer fixed-free sales

One problem with traditional estate agents is they work on commission based on the selling price of your property.

So, whilst it’s great news that you’ve sold your house for a higher-than-expected price, you’re also now facing a higher-than-expected fee.

Typical ‘traditional’ estate agents charge anything from 1.5% to 3.5%, so on a sale of £150,000 you can expect to pay up to £6,300.

Compare that to an online estate agent, which can charge a flat fee as low as £395, even if your house sold for £100,000 or £1 million.

Online Estate Agents work longer, around the clock, for you

In today’s 24 hour society, you don’t need a traditional estate agent than only works 9-5, Monday to Friday.

Did you know that the UK’s leading online estate agent claims that over 70% of its business is done outside of traditional working hours?

Customers can book viewings, give decisions on offers or communicate with the estate agent at whatever time is convenient for them.

Online estate agents provide clarity on fees, contracts and terms

One advantage satisfied customers of online estate agents often are extremely complimentary about is clarity, as all the fees, charges and terms are noted ‘up front’. This way, there are no ‘nasty surprises’ for the seller such as termination issues or hidden charges.

Online estate agents still do the work for you

Whilst the fees and charges are normally lower than traditional estate agents, this doesn’t mean there is any shortfall in the service they provide. Writing sales information, taking photographs, valuations etc. are still the remit of the estate agent

Online estate agents are becoming more popular

Estimates suggest at least 5% of UK homes are sold online, with predictions claiming that figure could rise to 50% by 2020. Approximately 1,000 houses are listed online each week in the UK, across a network of more than 40 online estate agents.

Conclusion: selling with online estate agents is likely to get even cheaper

Given the rise in popularity of online estate agents, it’s likely that costs will drop even further as more companies are looking to attract business.

In addition to reduced selling costs, online estate agents also offer a bespoke solution as each seller can ’cherry pick’ the services they need, which can reduce the cost further. For example, traditional estate agents often have to pay a subcontractor to erect a ‘For Sale’ sign – which is all included in the commission you will pay. With an online estate agent, you do not need to have a sign erected – which can reduce the fees – as the majority of potential buyers will be looking online for property.

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