Online estate agents

GAH

WebGuru wrote: »

Yep, as this site is called Money Saving Expert, and the amount of money saved on estate agent commission just on the current number of properties for sale with online agents is £14 Million, then I think it should get a mention....

£14 Million is quite alot, isn't it?

The actual claim on their website is now £17million.

But they are basing their figures since they have been in Business, around 8 years.

Then they are basing it on their calculator, that every home they sell they compare it to an agent charging 1.5%, I would say that average fee should be nearer to 1% or 1.1%.

Then base their figures on the whole of the UK.

So realitcally I would say that £17mil is nearer £10mil, thats around £1mil a year, and thats for the whole of the UK. Of course its still a saving, but the figures are misleading and perhaps the numbers are not so great when broken down compared to the big number.

Also what about clients that put their properties on, pay their upfront fee, can't sell and then use high street agent, which ends up costing them more. Im sure theres plenty of people out there that have done this. Of course HN would not put this in their figures, but those figures should be taken into account.

googler

.. and there's also the view that you can only describe it as a 'saving' when you're comparing like-with-like.

Heinz Baked Beans in Tesco, 21p
Heinz Baked Beans in Asda, 19p - saving 2p.

Comparing Heinz price in Asda with Tesco's own-brand price isn't a valid comparison, so you can't quote that price diff as a 'saving'.

Comparing online agents with high-street agents isn't a like-for-like comparison.

richardw

googler wrote: »

Comparing online agents with high-street agents isn't a like-for-like comparison.

All depends what the vendor's requirements are and the type of property they want to sell, if these suit an online agent, then the comparison is valid.

Potential vendors need to be able to assess if their requirements and property are suitable for an online agent.

Hoof_Hearted

No matter what the apologists for high street agents say, the potential savings are huge, but you do need to do a bit more work yourself.

Hoof_Hearted

googler wrote: »

Comparing online agents with high-street agents isn't a like-for-like comparison.

I 100% agree with Googler. Online agents do not expect huge commissions and play everything very straight.

pmlindyloo

Hoof_Hearted wrote: »

I 100% agree with Googler. Online agents do not expect huge commissions and play everything very straight.[/QUOT

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Sarcastic or what?!

irishcol

WebGuru wrote: »

So you have fallen for the sales patter that high street agents give you and you pay more than you are prepared to?

Possibly.

In the same way as others have fallen for the internet hype that syas paying a lower fee upfront will save you money, compared to paying slightly more for a more thorough service, which could result in you getting more for your property.

It comes down the the difference between cost and value for money. Your house, your choice.

googler

Hoof_Hearted wrote: »

I 100% agree with Googler. Online agents do not expect huge commissions and play everything very straight.

Crucially, though, they take their more modest free upfront and don't refund it if the house doesn't sell.

Regular EAs only get paid on completion. I've said to you before, if you can't see the difference in the risk profile between the two...

googler

WebGuru wrote: »

So you have fallen for the sales patter that high street agents give you and you pay more than you are prepared to?

So, HN's comparison figures based on assumed regular EA percentages aren't "sales patter", then?

WebGuru

what is your conclusion then as an estate agent?