Online estate agents - thoughts?

ukflippy

I'm about to sell my first house, and having looked into the costs of selling the place, am considering using one of the fixed-price online-only estate agents (looked at purplebricks, tepilo, easyproperty so far).

The savings appear self-evident, but I'm wondering if there's a catch.

For starters, aside from one package from Tepilo, the others seem to charge the same regardless of whether they're successful in selling the house or not, so I do wonder if the lack of incentive would mean they put less effort into making the sale.

I've also struggled to work out what I'd be missing out on if I were to skip the traditional (local) estate agents. While looking for a house, I've exclusively looked online - I'm not sure if that's just me, or if it's pretty much everyone, so the local office may be irrelevant.

So I was wondering if anyone had any thoughts on this. I'd be particularly interested to hear from people who have used online estate agents recently to sell a house.

marksoton

Do a search for threads on the subject on here.

Seems a pretty mixed bag from what i've seen.

You also need to bear in mind buyers perceptions of online estate agents. It does put some people off.

ukflippy

Thanks - I was using the wrong search box. I was surprised to not find any threads about this here!

golly99

From my what I've seen in my local area, there's very few with online agents and the ones which have been put up where not sold and then went to the traditional agent and sold quickly. Can appreciate some online agencies are better than others but the ones I've seen the quality of the photography is appalling (so much so that when up with a 'normal' agent with pro photography the house can look completely different).

Grenage

Sometimes they're no cheaper at all; it depends on the value of your home.

If you basically just want your house on Rightmove, and know how much you want, they're fine. If you don't know, or it's more of a niche market, an EA is probably better.

We sold with Purple Bricks; it was ok. Booking appointment was a bit of a faff for people, as you had to register online.

adonis10

Had experience of Emoov which was very good. Cost about £650 inc VAT and sold a 201k property quite easily. 1% estate agents fee would have been £2412 (inc VAT) so the cost benefit is evident. They were helpful and efficient.

Ok, it's an up front fee which you don't get back if they don't sell - that's the risk you take for trying to save money. In my eyes, it's a risk worth taking given the potential savings. Also seen a hell of a lot of sales in my local area through Purple Bricks, so they must be doing something right.

I would imagine that the first port of call these days for most buyers is rightmove (totally anecdotal but this is my assumption given the age we live in) so why use an agent at 1-1.5% to achieve this? If the pictures are professional and the price is right, surely people will want to view. I can't imagine that some cocky salesman standing there will make one more likely to buy it (if anything, less because they could annoy you so much that you don't give the property the time it may deserve when viewing).

chelseablue

In the last few months I've notice more Purple Bricks For Sale boards outside property's in my local area.


I've not used them myself though

eddddy

ukflippy wrote: »

While looking for a house, I've exclusively looked online - I'm not sure if that's just me, or if it's pretty much everyone, so the local office may be irrelevant.

Finding a buyer is only the first half of an EA's job.

The second half is progressing the sale to exchange. Online (and local) EAs that charge an upfront fee may not do much sale progression.

I've just watched a whole chain slowly and painfully fall apart because there was no EA progressing the sale at the top of the chain.

This could be a very important important consideration, if you sell to a fairly clueless FTB.

ccskitten

Personally, I have nearly sold my house with Hatched. To start with they were excellent. Very efficient and friendly getting the house online. Other than that you get what you pay for.

I had a lot of issues with holding my buyers due to chains collapsing below me. Although this is not the fault of the agent, every offer I received I was advised to accept, no matter how low it was. In the end I signed up with a local agent and within a few days had a full asking price offer (bidding war between the two agents and their potential buyers). I actually accepted a slightly lower offer from the buyers with hatched as they were FTB but I have had no ongoing support or contact with the agency.


If I were to resale there is no doubt that I would go for a local agent. The viewings and ongoing support and drive to complete the sale, plus the incentive for them to get you a higher offer pays for itself.


This is my opinion following my experiences anyway.

househuntingmad

From a buyer perspective, I ended up buying a house that was originally on with an online agent but then bought via a traditional estate agent.

Dealing with online agent was akin to dealing with any other call centre. They also clearly have zero desire to get the property actually sold given they've been paid upfront.

Estate agent being paid commission was a different kettle of fish. When vendor mentioned about wanting to push completion back a month he made it quite clear to vendor that I would likely pull out, and became a voice of reason. I really doubt an online agent would have cared less.

I certainly would be put off as a buyer having to deal with one in future, and certainly wouldn't use one to sell with.

Jhoney_2

Some online agents do sales progression and commission options, so it does not have to be a non-incentivised situation either.

I am considering using another well known one (housenetwork). You also can have add on elements at extra cost - so you can configure your own package. I imagine they are not alone and IIRC Tepilo did too.

Some traditional EAs also have a bad reputation, but that doesn't stop people using them to buy/sell properties.

As with any business transaction you pay for, you may need to follow up, be proactive etc to get the level of service you want. Traditional EAs are no different, be it just the one on your sale/purchase or throughout the office/chain.

Local EAs get the footfall, but they charge a lot more.

All down to preference, but if I were buying and I liked the property I would contact whoever it was on with as I am not buying the agents.