On-line estate agency?

lizmail1000

Hi,

I'm looking for opinions on what buyers/sellers would be attracted to in an on-line estate agency.

I am considering becoming self-employed to do this. I am a recently qualified agent but have been working in estate agency for five years. Even as someone involved in the industry, I do feel that the commissions paid by vendors are far too high and often the service received is less than satisfactory.

There are some web based only agencies but they don't offer a personal service as they are nationwide.

My idea, is that I would provide a web-based agency on a localised level so that I am visiting clients homes myself to offer accurate valuations, I'm keeping them updated and helping them through the conveyancing process once the property is sold subject to contract and offering all the same advertising and marketing as a conventional estate agent, except no high street shop front. This way I would be offering a personal service for a much lower fee.

Your thought either way please?

many thanks

dnwilliams

Lizmail,
In principle this is a great idea. But I would imagine that it’s been the goal of many EA’s in a similar position to you over the last few years and yet, to-date has not taken off. The difficulty is that there are no shortage of EA’s with shop premises who will do cut price fees. Seekers is a classic example. In my Town it’s not difficult to negotiate fees of 0.95% on a no sale no fee basis. Go much lower that that and you may find it’s commercially unviable. I have been in and around the industry for 25 years and seen a lot during that time, in my experience and on the whole, people are wary of cut price agents.

lizmail1000

Thanks - I do appreiciate what you say. People do become wary if the fees are low, however, as idealistic as this may sound I genuinely don't think that vendors should be paying through the nose for very often, poor service.

On the basis that I would not have the main costs of premises and many staff, I coould viably keep the fees lower and even if I do say so myself, could give a better service. Of course, convincing prople that this really is the case (what with Estate Agents reputations) could be an uphill struggle.

Doozergirl

I'm not worried about a personal service particularly, but having dealt with www.housenetwork.co.uk I actually did quite a personal service with the same lady calling me from offer onwards. There don't appear to be that many people in the office anyhow.

I'll be using them again next month (2 houses coming up, we will use House Network for the cheaper one) and I expect I'll probably end up dealing with the same person.

Without doubt, what I want from an agent is coverage on rightmove. If the service does not come with that, I will not be using them. Decent pics, pref with a decent camera with a wide-angled lens, operated by a competent person is what I'd like to see more of.

Doozergirl

You are going to need one extra person to be able to answer calls when you are valuing - inrernet or not, people are going to want to call the number on the board and vendors will want the security of someone on the phone, Even me

dnwilliams

Unfortunately Doozer sums it up, the crazy thing about the EA business is that people are attracted to Crap EA's like moths to a flame! I'd better not mention any names but they are usually corperate style, flashy offices, spikey hair, mini coopers, cafe style, bright lights, sorry Very Bright Lights, a touch of neon, although I have to say one thing I have noticed, the white sock's are no longer! you know the ones. They charge an arm and a leg give a rubbish service, people complain like mad and then go back for more next time they sell. It has always bewildered and facinated me.

lizmail1000

Thanks - I do realise that people will need to be advertised on rightmove and it goes without saying that I will be doing this. Wherever possible, I will be re-directing calls while I am out of the office to my mobile and if I am with clients on valuations, listings or accompanied viewings I will be ensuring that calls are fielded. Of course, at the moment the idea is just that, an idea and all the feedback I get will be what shapes the business.

Thanks again

lizmail1000

You're so right - we've actually had our local wideboy EA's calling our office for advice on the most basic issues as they've no experience in the industry at all!

dnwilliams

Very few of the front line staff have much experience. They are the curse of the EA profession and yet despite the constant criticism from the public, the market dictates that this is what customers desire!

wecanhelpu

GO AND PLAY WITH YOUR UMBRELLA BRUNO

Doozergirl

can you make that bigger please, wecanhelpu? It's somewhat dwarfed.