If you’ve watched TV recently, you’ll no doubt have seen large numbers of adverts for online estate agents. Promising low, or even zero commission fees, these estate agents are certainly becoming more visible, although only about 6% of properties in 2017 were sold through online-only agents. Making promises such as selling your house quickly and making it easier to get buyers to find you, there are bound to be more and more sellers using their services, but how do they stack up when compared to other options?
The main draw for online estate agents is that they don’t charge commission on your house sale. Use an estate agent on your local high street, and they’ll usually charge a percentage of up to 3%, and with the average house price in the UK on the rise, this can run into thousands. However, some online estate agents have been criticised for charging a flat commission fee, whether you sell your property or not, so it’s important to read your contract. The best way to avoid fees is to choose a 7-day house sale through companies such as UK Home Buyers. This can help you avoid losing large percentages through online or traditional estate agents.
Choosing an agent
It can be difficult to choose an estate agent, especially online where you may not be able to get local recommendations. Some things to look for include:
- Rate of properties sold
- Online reviews
- Whether they have a real-world presence
- Reputation among sellers
It’s worth doing some googling to see what people have been saying about them online, as many estate agents have been featured in the news recently, with questions raised about their marketing claims.
Marketing your house
Another criticism of online estate agents is that they are often centralised, so don’t have specialist knowledge of the area. They may send agents out to do viewings, but they may not know anything about the town they’re selling in, meaning it’s hard for them to push the advantages of a house, such as its transport links and good schools. If you choose an online estate agent, it’s worth doing some research of your own and seeing if you can write your own property listing, as this will be much more personal and relevant to the target market.
Weigh up the alternatives
When deciding how to sell, it’s worth sitting down and doing some sums. From the fees involved to the speed of sale and how much you’ll be offered, there are lots of things to take into account. Many people find that selling a house for cash is the best option, as although you might get a lower rate, you aren’t stuck with a big bill afterwards.
If you need to sell your home quickly with no fees, contact UK Home Buyers on 0800 051 7645. With lines open 24/7, we can give you a quick offer and sell your home in as little as seven days.