Using an online estate agent - disadvantaged when buying?

chazsucks

martin1959 wrote: »

Logic says that if an online EA gets their fee up front, why do they care whether things proceed to exchange. If there is no incentive for them to chase, cajole, pressurise etc then there are many chains that would never complete.

The online agents we have looked at take half up front and the other half of the fee on completion

tea-bag

I used hatched.co.uk and they are great £600 all in and the also do all the things a high street agent do.

Look back on my started threads for the full experience.

In a buoyant market and the right area all you need is right move and zoopla.

Just like to say I saved 6k

Cazh77

Thanks everyone for your input and advice - all food for thought!

I have no concerns about selling the house in the current market - I think that's the easier bit. I'm more concerned about being at the bottom of the list if we put an offer in on a house with multiple offers, because either sellers aren't confident/familiar with online agents, or because High St agents are implying that to sellers because they want to protect their business in the long term.

I also called the online agent we were thinking about using - Urban Sales and Lettings - and put this to them, and their response didn't fill me with confidence so we have scrubbed them off the list!

I think we probably will end up going with a High Street agent this time, which will cost us a lot more, but I have more confidence that, in the current climate, we'll have less problems and are more likely to get a good end result.

yamsteroo

Cazh77: funny you should mention Urban Sales and Lettings - we are interested in a property they are 'marketing' and we asked a few questions a couple of months ago which failed to get any response.
We're now in a position to view the house and after filling in their form to request this, we got an automated reply saying to click on a link if we were happy for our details to be passed to the vendor who were conducting their own viewings - no other option was given, it was this way or no way.


Luckily the vendors seem like nice people and have answered all my questions prior to viewing but I'm guessing when it comes to making an offer that Urban may tell us just to ring the vendors again which is were it could get tricky.


Not sure if this the norm for Online EA but I would much have preferred to go through the agent than 'get personal' with the vendor.

Jhoney_2

martin1959 wrote: »

If all goes smoothly, maybe so. But many do not go smoothly. Logic says that if an online EA gets their fee up front, why do they care whether things proceed to exchange. If there is no incentive for them to chase, cajole, pressurise etc then there are many chains that would never complete.

Most online EA offer up front, 50/50 or fee on completion so choice available including standard EA variety. Also no need to use their conveyancing facilities?


Also, if they are 'scrimping' by using an online EA (or as my old dad used to say, 'tight as a ducks ar*e underwater') they may well be the type who will try and renegotiate prior to exchange.

One person's 'scrimping' is another person's buying incentive, price negotiation room etc. If you want to sell fast, you can be even more competitive on price.

In London, the EA's recommend offers from people selling with them too, so you have less politics with an online EA as they will not necessarily have another house to show in your local area - wheres the local EAs have that surety if your buyer is looking in the area.

'Local knowledge' in terms of the area is all over the internet so can't say it's a USP - same with properties for sale.

Surrey_EA

yamsteroo wrote: »

Cazh77: funny you should mention Urban Sales and Lettings - we are interested in a property they are 'marketing' and we asked a few questions a couple of months ago which failed to get any response.
We're now in a position to view the house and after filling in their form to request this, we got an automated reply saying to click on a link if we were happy for our details to be passed to the vendor who were conducting their own viewings - no other option was given, it was this way or no way.


Luckily the vendors seem like nice people and have answered all my questions prior to viewing but I'm guessing when it comes to making an offer that Urban may tell us just to ring the vendors again which is were it could get tricky.


Not sure if this the norm for Online EA but I would much have preferred to go through the agent than 'get personal' with the vendor.

I've always assumed this was how things work with "Online only" EAs, which is how they are able to offer a much cheaper fee. If they were to get involved in all discussions, arranging appointments and negotiations then they would start charging more!

ellie27

yamsteroo wrote: »

Cazh77: funny you should mention Urban Sales and Lettings - we are interested in a property they are 'marketing' and we asked a few questions a couple of months ago which failed to get any response.
We're now in a position to view the house and after filling in their form to request this, we got an automated reply saying to click on a link if we were happy for our details to be passed to the vendor who were conducting their own viewings - no other option was given, it was this way or no way.


Luckily the vendors seem like nice people and have answered all my questions prior to viewing but I'm guessing when it comes to making an offer that Urban may tell us just to ring the vendors again which is were it could get tricky.


Not sure if this the norm for Online EA but I would much have preferred to go through the agent than 'get personal' with the vendor.

Doesnt sound good at all.

Our online agent answered the calls, arranged the viewings (by negotiating times/dates between us and the viewer) They asked the viewers beforehand what their position was eg if they had an AIP or a place still to sell etc. They then called the viewer the next day for feedback from the viewings. The agent then emailed us a viewing report for every viewing we had. Our agent called us with every offer that was submitted and also negotiated for us. Our online agents are local, 5 mins drive in the centre of town and they know the market.

Surrey_EA

Jhoney wrote: »

In London, the EA's recommend offers from people selling with them too, so you have less politics with an online EA as they will not necessarily have another house to show in your local area - wheres the local EAs have that surety if your buyer is looking in the area.

I'm note sure that is something confined to London.

Surrey_EA

ellie27 wrote: »

Doesnt sound good at all.

Our online agent answered the calls, arranged the viewings (by negotiating times/dates between us and the viewer) They asked the viewers beforehand what their position was eg if they had an AIP or a place still to sell etc. They then called the viewer the next day for feedback from the viewings. The agent then emailed us a viewing report for every viewing we had. Our agent called us with every offer that was submitted and also negotiated for us. Our online agents are local, 5 mins drive in the centre of town and they know the market.

Blimey, for £400 + VAT that is a cracking deal!

I really struggle to see much of a margin in there, but fair play to them, it's obviously working.

ellie27

Surrey_EA wrote: »

Blimey, for £400 + VAT that is a cracking deal!

I really struggle to see much of a margin in there, but fair play to them, it's obviously working.

Its an online agent in centre of Glasgow, think they have around 6 agents in the office. As the weeks go by more and more houses are popping up selling through them. They have been great with us.