HIGH STREET vs ONLINE: The Big Debate
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ONLINE ESTATE AGENTS:
There are hundreds of online agents nowadays, with some of the most well known of them being Purplebricks, Tepilo, Emoov and House Simple. When you think of an online company you may think of the ease of the process being a lot greater; less people to go through, less of your time spent focusing on the issue, and potentially less money spent on fees. Generally, as mentioned previously, these agencies will give the suggestions that they work 'commission free'. They give the choice for a standard upfront fee to be paid, or a pay-later fee which sounds great at first sight. With regards to the pay-later method, the payment won't be taken until a couple of months short of a year to the date of instruction, but you also sign up to a credit agreement. The agent is paid the fee straight away, but even if you decide to withdraw your property, or they are not able to sell it, it will have to be paid no matter what. With this pay-later method there is also the potential for an additional few hundred pounds spent on admin fees as well as an Energy Performance Certificate (EPC), charge for viewings, and a cost to be a premium listing.
HIGH STREET AGENTS:
High street agents serve a face-to-face customer service throughout the sale of your property. If you have a problem you have the choice of ringing up or walking into the office, not just the reliance of a property portal for enquiries. Yes, they charge a commission/fee, but that is paid only when they've successfully sold the property. Unlike online agents, the price for photos, conducting viewings, creating brochures and other marketing materials, as well as the EPC are generally all included in the initial cost. With high street agents, they are able to vet your viewers, negotiate sales and manage them through to completion. Open at least 6 days a week, and with numerous staff with extensive experience, high street agents are more likely to be able to give you the help and advice that you need to enable your sale to proceed smoothly and successfully. Their incentive is greatly prioritised to find you a buyer because that's how they earn their commission.
Conisdering all that's been mentioned, it's not surprising why 95% of people go through the traditional high street agent when considering their sell. You may not necessarily think you'll be saving money but the step by step help you're more likely to achieve with the sale through a high street agent will make the process of your property selling a lot less stressful generally. You know you will be getting the marketing you pay for, and the advice will be more accessible, in comparison to the online agent who, no matter what the outcome of your sale (including withdrawing from the market), will be paid on your property instruction.