Online estate agents(19 Posts)
Have a flat to sell in London. Quoted comission is 2.5%+vat, which will end up a huge sum of money.
I'm tempted to try and use an online agent, who will market it on rightmove, do photos etc.
Has anyone used an online estate agent, or had any experience with this?
We used tepilo.
If the sale had been straightforward we would have been perfectly happy. Big saving cash wise of course. Yes we did have to do all viewings, write the ad and do the negotiations but none of that is necessarily bad and in some cases could be good (depending on your agents!)
Unfortunately our sale has not been straightforward and for various reasons we are now on buyers number 3. Tepilo have done nothing to help in any of these situations. Talking to other estate agents in our chains (we are also on house-to-buy number 3!) who are all high street agents, they imply they would have been able to do more to stop sales falling through. Also tepilo don't do any chasing etc so we have to continue doing leg work to check our buyers aren't going to pull out.
I think of you have a good house in a good area it WILL sell itself. Particularly at the moment. In which case, really, what does a high street agent really offer? You can do it.
If you encounter difficulties however, then the experience of a high street agent could be invaluable. I also think they can help with pushing to exchange.
I hope that's helpful?!
We are trying purple bricks- we haven't sold yet and I think it's slightly over priced but I we had for a range of valuations.
We can only really afford to move if we use an online one especially with the possible stamp duty as well.
When looking to buy I have been so in impressed by what ea do and really sick of there constant repetitive emails pushing properties which don't fit our criteria
Online agents such as GetAnOffer will charge a lot less and whilst online, they are all ex-traditional agents so will help you with the whole process, which is vital.
If you have time why not try the online estate agent first - getting the property on Rightmove is the most important thing and you'll get this for a few hundred pounds.
If the property has no big compromises and a realistic asking price you should be able to avoid that big high street fee.
From experience things don't always run smoothly with high street estate agents anyway.
Thank you all for responses
I'm really hoping to persuade my mum to use one of these!
Her objections are:
What if the buyers are in a chain, who deals with that? In the event of a breakdown?
Does it matter that we can't handle viewings? (She lives abroad)
She feels this will mean it sells slower as there is a less wide audience? (Have tried to talk to her about rightmove!)
Flat is worth £1.5m, will this make a difference to speed of sale?
Will the people showing the prospective buyers around be estate agents?
Will the price be hammered down because buyers know there is no commission?
The mortgage is a huge issue and it needs to be sold within 2 months.
Her view is that the estate agents (hamptons) have people on their books ready to buy the property, and they get walk ins who will want to buy in the local area. I disagree and think its all about being online nowadays.
Would really appreciate thoughts. We have to decide in a week.
Have you tried playing local estate agents off against each other on commission? I managed to get commission reduced to 1% on a flat in London by doing that – they're all keen to have the business and even 1% on £1.5million is a huge amount for them.
Yes, they seem to be immovable!
Have tried hamptons, foxtons and frasers so far.
Can I ask who you used please toys?
If the traditional agents have people on their books waiting to buy, believe me those same buyers are also checking rightmove themselves.
Exactly my logic.
I really hope I can convince my mum. I think I worked it out at £36k commission. Makes me feel sick tbh, that's a house deposit!
We used local agents, not a chain. I think they have more flexibility to reduce commission.
All the big chains have flexibility to reduce commission - dont pay more than 1.5% but aim for 1%. You can also agree a fixed fee. My sister has just done this - £5k - house on market for £650,000
Give them a deadline - go to each of them and say that they can have your business at 1% but they need to agree to this by Tuesday midday
I would also approach the local small independent - they will be more flexible with price - and the "shop window" is all the same/equal ie rightmove and is effectively unbranded.
Dont tell the EA you are desperate or in a hurry. But if you are I think the non online option is better - as the EA will have vetted the applicant ie how proceedable are theh
We've dealt with EweMove (but as buyers) and have been impressed. They have local estate agents (franchisees with no premises) and a centralised sales progression team, who take over when the deal is agreed . They haven't been active in our area for long but they seem to have acquired a fair bit of stock in that time.
High street agents really don't offer value for money these days. Why play a fortune for some spotty faced kid on minimum wage in a cheap suit to show people around your house. I have dealt with a lot of high street agents recently and I have been less than impressed. As far as I can see they do little to sell property other than putting it on rightmove and opening the front door. Most people look for property online these days, they see something, call the agent and arrange a viewing. The world has moved on from the days of registering with agents in a local town and waiting for details in the post. If using an online agent to get your property on the market saves you money and does the same job, id give it a go.
Our agent offered us 1% with no bargaining necessary (I was ready to try and get the commission down but was pleased not to need to).
They are only based in our city with just two offices but have a huge local presence and have been flexible and very helpful.
Definitely try a local independent.
my London flat are with local agent for 1% commissions, 25 viewings within 4 weeks and 2 offers, I think they do a decent job don't think online agent can achieve better tbh
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