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Why Can an Online Estate Agent Charge Less?

by Marquette Turner Luxury Homes

in Real Estate Radar, Variety

The real estate market is now divided between online estate agents and traditional high street agents. People are starting to notice the difference in choosing an online estate agent, especially when it comes to the price. A typical commission-based real estate agent will charge 1% to 2% of the sale price of the property, with Londoner homeowners being said to pay around £9000 on average to sell their homes. Compare this with the fixed price charged by online estate agents ranging from £495 to £1,000 and you’ll easily see that there are considerable savings.

The main reason why online estate agents can charge less is that they offer a fixed price for the service and do not charge a commission on the sale. With this in mind, the services offered by online estate agents also vary. Some may include post-sale services such as conveyancing. Most estate agents offer a free online valuation, but as these are largely computer generated, it is usually recommended to have an in-home valuation with a local expert, for a more accurate estimation.

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Advantages of an online estate agent

Paying less for selling your home is already a compelling reason to choose online estate agents over traditional high street agents. In addition to savings, here are the other advantages of using an online estate agent:

  • Round the clock service

The premise of using an online estate agent is to maximise convenience. You won’t have to make face to face appointments all the time. The internet has become a powerful tool to allow sellers the opportunity to manage the sale of their home whenever it is convenient for them. After all, the majority of sellers have full-time jobs and can only afford to spend a few minutes each day to deal with the ongoing details of a sale. Online estate agents offer 24/7 service over the phone, or through chat. Some even have online dashboards sellers can access themselves to arrange and schedule viewings.

  • Service flexibility

Many online estate agents have started to diversify their services. They are now able to offer face to face service to their clients if needed. This increases the level of confidence and trust for the seller.

  • Seller can use multiple agents

If you use an online estate agent, you are not confined to a specific contract period. Sellers are free to instruct other agents if they want to make a comparison of offers, unless you sign up to a sole-agency contract in which case you would have to wait till the period is up to use another agent.. This gives the seller more control over the overall sale process.

Of course, every seller has to take the time to compare the services offered by each online estate agent in order to find the best one. Fortunately, there is an abundance of resources online that can help you narrow down your choices. For example, you can check consumer watchdogs and review sites to find out what previous clients are saying about a particular firm. You can also do your own research to verify the legitimacy of an agent. With some of the most popular and well-established names on the market today, you are likely to find the right package from an online estate agent that is suitable for your needs at just the right price point.

 

Image: Pixabay.com

 

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