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  • FIRST POST
    • bertiewhite
    • By bertiewhite 14th Mar 18, 1:05 PM
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    bertiewhite
    Traditional vs. online Estate Agents
    • #1
    • 14th Mar 18, 1:05 PM
    Traditional vs. online Estate Agents 14th Mar 18 at 1:05 PM
    My house is currently on the market and already we've had to provide the Estate Agent with better photos and chase them regularly for updates, effectively doing some of the job for them.

    I went with a traditional (commission) EA because I was under the impression that they will try harder than an "up front" EA due to the fact that if it doesn't sell, they get nothing.

    Looking at it another way, what's to stop an online EA taking the up front fee and then sitting back - what's the incentive for them to sell your house when they've already got the money?

    Or isn't that the way online EA's work?
Page 1
    • Surrey_EA
    • By Surrey_EA 14th Mar 18, 1:10 PM
    • 1,498 Posts
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    Surrey_EA
    • #2
    • 14th Mar 18, 1:10 PM
    • #2
    • 14th Mar 18, 1:10 PM
    what's the incentive for them to sell your house when they've already got the money?
    Originally posted by bertiewhite
    There isn't one, at least as far as I can see.

    If you've got a sought after property, in a popular area, and don't mind doing some of the work then the pay upfront model is very attractive.

    Sounds like the EA you've instructed isn't a great advert for the traditional EA model. Some EAs are very good and will work hard to get your house sold. On the other hand others are lazy and don't put a great deal of effort in.
    • steampowered
    • By steampowered 14th Mar 18, 1:41 PM
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    steampowered
    • #3
    • 14th Mar 18, 1:41 PM
    • #3
    • 14th Mar 18, 1:41 PM
    There are a lot of negative review on here for online estate agents. Just search on the forums for 'purplebricks'.

    Online EAs don't tend to do very much to try and sell your property. They just list it online and leave you to do the rest. Online EAs leave you to deal with viewings and negotiations.

    So if you are expecting an online EA to do anything other than 'sit back' you will be disappointed.
    • PokerPlayer111
    • By PokerPlayer111 14th Mar 18, 2:02 PM
    • 245 Posts
    • 85 Thanks
    PokerPlayer111
    • #4
    • 14th Mar 18, 2:02 PM
    • #4
    • 14th Mar 18, 2:02 PM
    Looking at it another way, what's to stop an online EA taking the up front fee and then sitting back - what's the incentive for them to sell your house when they've already got the money?
    Originally posted by bertiewhite
    Online estate agents can only continue if people are happy and actually buying/selling houses. Its important the process actually works to continue business. There is much more money in being successful.
    • MobileSaver
    • By MobileSaver 14th Mar 18, 2:03 PM
    • 1,407 Posts
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    MobileSaver
    • #5
    • 14th Mar 18, 2:03 PM
    • #5
    • 14th Mar 18, 2:03 PM
    There are a lot of negative review on here for online estate agents.
    Originally posted by steampowered
    That may be true but I would suggest that there are far more negative reviews on here for old-fashioned high street estate agents!
    Respect to 3 of the greatest actors of all time; amazing people who are totally believable as the characters they play & almost single-handedly make the shows they starred in:

    Peter Dinklage as Tyrion Lannister in Game of Thrones
    Daniel J. Travanti as Frank Furillo in Hill Street Blues
    Claire Danes as Carrie Mathison in Homeland
    • PokerPlayer111
    • By PokerPlayer111 14th Mar 18, 2:07 PM
    • 245 Posts
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    PokerPlayer111
    • #6
    • 14th Mar 18, 2:07 PM
    • #6
    • 14th Mar 18, 2:07 PM
    That may be true but I would suggest that there are far more negative reviews on here for old-fashioned high street estate agents!
    Originally posted by MobileSaver
    The viewing i done the other day the guy was selling his third house using online estate agents. He was using doorsteps this time because of the price and housesimple before that. He couldn't be happier with the selling experience.
    • Lauralou79
    • By Lauralou79 14th Mar 18, 2:31 PM
    • 190 Posts
    • 172 Thanks
    Lauralou79
    • #7
    • 14th Mar 18, 2:31 PM
    • #7
    • 14th Mar 18, 2:31 PM
    Our house was sold via an online agent. As a buyer it was easy, we booked viewing online, the vendor dealt with the viewings. We put offers in online that went straight to the vendors and could also send messages. No games or awaiting for the agents to pass it on etc.
    Once our offer was accepted all online it went straight off the market and Rightmove.
    Can only speak about buying, tho the vendors did have good photos taken and a costed valuation as well as a sign outside.
    • Surrey_EA
    • By Surrey_EA 14th Mar 18, 2:36 PM
    • 1,498 Posts
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    Surrey_EA
    • #8
    • 14th Mar 18, 2:36 PM
    • #8
    • 14th Mar 18, 2:36 PM
    Online estate agents can only continue if people are happy and actually buying/selling houses. Its important the process actually works to continue business. There is much more money in being successful.
    Originally posted by PokerPlayer111
    Taking your current favourite for a moment, how much effort do you think an online only, pay upfront, property listing service is going to put in when they are charging £99?

    There is no way they can be making a profit at this price point.
    • MobileSaver
    • By MobileSaver 14th Mar 18, 2:51 PM
    • 1,407 Posts
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    MobileSaver
    • #9
    • 14th Mar 18, 2:51 PM
    • #9
    • 14th Mar 18, 2:51 PM
    how much effort do you think an online only, pay upfront, property listing service is going to put in when they are charging £99?
    Originally posted by Surrey_EA
    That's the thing, it's horses for courses. I knew a £400k+ property I sold would sell itself with little effort on anyone's part and saved literally thousands of pounds by using an online EA.

    Conversely a £200k+ property I sold was too far away and too much hassle for me to arrange viewings and so I happily paid an old-fashioned high street agent several grand to put in the effort for me.

    For most sellers though we live in an online world and so long as they price a property right and get it on Rightmove then it will sell. This obviously means the market for high street EAs is diminishing as every day goes by...

    There is no way they can be making a profit at this price point.
    Originally posted by Surrey_EA
    This will depend on how much they are paying Rightmove to get listed (do you know how much this is?) and whether they can upsell additional chargeable services to their customers.
    Respect to 3 of the greatest actors of all time; amazing people who are totally believable as the characters they play & almost single-handedly make the shows they starred in:

    Peter Dinklage as Tyrion Lannister in Game of Thrones
    Daniel J. Travanti as Frank Furillo in Hill Street Blues
    Claire Danes as Carrie Mathison in Homeland
    • PokerPlayer111
    • By PokerPlayer111 14th Mar 18, 2:54 PM
    • 245 Posts
    • 85 Thanks
    PokerPlayer111
    Taking your current favourite for a moment, how much effort do you think an online only, pay upfront, property listing service is going to put in when they are charging £99?

    There is no way they can be making a profit at this price point.
    Originally posted by Surrey_EA
    For £99 i think its just get it on rightmove and zoopla which is where the buyers come from + make use of the online infrastructure. Cant expect much more i guess if only picking the £99 package.

    Once our offer was accepted all online it went straight off the market and Rightmove.
    Originally posted by Lauralou79
    I currently have offer accepted with traditional EA and house not yet marked as SSTC and still on rightmove. Also already paid solicitor instruction fee which was a solicitor via the EA. URGH!
    Last edited by PokerPlayer111; 14-03-2018 at 3:14 PM.
    • googler
    • By googler 14th Mar 18, 3:07 PM
    • 14,776 Posts
    • 9,691 Thanks
    googler
    For most sellers though we live in an online world and so long as they price a property right and get it on Rightmove then it will sell.
    Originally posted by MobileSaver
    ...and as long as they have the time to do the viewings (some of which will be during the day, maybe), field the phone calls, and all the other stuff.

    How many working folk have the flexibility in their work life to do this? I would wager very few.
    • MobileSaver
    • By MobileSaver 14th Mar 18, 3:13 PM
    • 1,407 Posts
    • 1,976 Thanks
    MobileSaver
    ...and as long as they have the time to do the viewings ... How many working folk have the flexibility in their work life to do this? I would wager very few.
    Originally posted by googler
    Absolutely but when you are talking a difference in price of literally thousands of pounds I think you will find more folk than you think will find a way to make it work.
    Respect to 3 of the greatest actors of all time; amazing people who are totally believable as the characters they play & almost single-handedly make the shows they starred in:

    Peter Dinklage as Tyrion Lannister in Game of Thrones
    Daniel J. Travanti as Frank Furillo in Hill Street Blues
    Claire Danes as Carrie Mathison in Homeland
    • britishboy
    • By britishboy 14th Mar 18, 3:38 PM
    • 2,537 Posts
    • 300 Thanks
    britishboy
    I thought an online EA was more for advertising purposes, like advertising your car for sale on eBay and you show the potential buyers around, hence it being so much cheaper

    Have never used online, but will if we ever move again
    • britishboy
    • By britishboy 14th Mar 18, 3:39 PM
    • 2,537 Posts
    • 300 Thanks
    britishboy
    ...and as long as they have the time to do the viewings (some of which will be during the day, maybe), field the phone calls, and all the other stuff.

    How many working folk have the flexibility in their work life to do this? I would wager very few.
    Originally posted by googler
    If it meant saving a couple (or more) thousand pounds, I'm sure a lot would. Evenings and weekend viewings would be ideal
    • the_quick
    • By the_quick 14th Mar 18, 3:39 PM
    • 56 Posts
    • 29 Thanks
    the_quick
    We just got offer on our flat, went with emoov. Now in process of progressing through sale. So far I'm very happy, I deal with office team (4 people assigned to our sale) - they all know me, so don't have to explain situation each time I call. All information is quickly passed between my buyer and myself. Email responses are within an hour. So all good so far.
    Much worse experience with high street agents as a buyer - emails go without replies for days, phone calls not returned. If we even managed to arrange booking, we had to call twice to ask for property address. As I said, different estate agents but most not appealing experience - all of them trying to sell us, their mortgage advisers - some more pushy than others.
    • britishboy
    • By britishboy 14th Mar 18, 3:41 PM
    • 2,537 Posts
    • 300 Thanks
    britishboy
    For £99 i think its just get it on rightmove and zoopla which is where the buyers come from + make use of the online infrastructure. Cant expect much more i guess if only picking the £99 package.



    I currently have offer accepted with traditional EA and house not yet marked as SSTC and still on rightmove. Also already paid solicitor instruction fee which was a solicitor via the EA. URGH!
    Originally posted by PokerPlayer111
    We bought through a traditional EA 3 years ago, and the place we bought was still for sale on Rightmove right up to about 2 weeks before we moved in! I gave up asking the EA to remove it after about the tenth call
    • victoriavictorious
    • By victoriavictorious 14th Mar 18, 4:03 PM
    • 189 Posts
    • 269 Thanks
    victoriavictorious
    Our house was sold via an online agent. As a buyer it was easy, we booked viewing online, the vendor dealt with the viewings. We put offers in online that went straight to the vendors and could also send messages. No games or awaiting for the agents to pass it on etc.
    Once our offer was accepted all online it went straight off the market and Rightmove.
    Can only speak about buying, tho the vendors did have good photos taken and a costed valuation as well as a sign outside.
    Originally posted by Lauralou79
    Sounds like same the online agent we're selling through at the moment
    We've been SSTC since last week and having bought/sold multiple times in the past, I have to say that this agent has been a real breath of fresh air after previous experiences with high st agents.
    Surprisingly, it wasnt *just* about the cheaper price for us (although the £5K plus saving was not to be sniffed at), it was more about the thousands of positive reviews, their modus operandi and not least, their CS - which has been outstanding and faultless up to now.
    Phone calls are returned immediately, emails responded to immediately, you are kept informed of progress without having to constantly chase chase chase, (as we are having to do now trying to set up viewings with high st agents and theyve been a nightmare!) Everything just purrs along smoothly like a Rolls Royce.
    We chose to pay upfront (we didn't opt for their 'premium' service, just the regular one) but were given the option to pay later, at no extra cost. I asked for a discount when I paid upfront, and got 5% off. There is no time limit, if a sale falls through, you just click on your control panel, and back it goes on RM. You have full control of your own listing.
    In answer to the old chestnut of "oh, once they've got your money..they won't bother." no, that couldn't be further from the truth; it doesn't makes a jot of difference. No online agent could afford to take that stance, or they wouldnt stay in business for long, as they rely on their reputation. This company has been around for 13 years now and the business model seems to work, so they must be doing something right. They can provide a decent service for a low cost because everyone pays a fee, not just those vendors who sell having to subsidise the those who do not.
    As for viewings, they will do those too for an extra charge if required. However, I did them myself. The erection of a board is also included in the price, but we didn't want one.
    Our property was not one that would have necessarily 'sold itself' as it appealed to quite a niche market, but we got 2 offers within a month. All our viewers remarked on how impressed they were with the efficient and polite way they were treated.
    Now that our sale is under way, our agents have emailed a timeframe of when they will follow up each stage, and how progress will be chased if xy is delayed.
    I know that some high st agents are good, but unfortunately in our experience they are as rare as hens teeth and the rest need to up their game, get with the times and start offering decent CS if they are to have any hope of competing with the best of the online agents.
    Last edited by victoriavictorious; 14-03-2018 at 4:09 PM.
    • buglawton
    • By buglawton 24th Mar 18, 7:31 PM
    • 7,329 Posts
    • 3,788 Thanks
    buglawton
    The viewing i done the other day the guy was selling his third house using online estate agents. He was using doorsteps this time because of the price and housesimple before that. He couldn't be happier with the selling experience.
    Originally posted by PokerPlayer111
    Radio 4 has a programme this evening about teenage entrepreneurs and Doorsteps was featured as it was started by an A level student, also it was crowdfunded. I recognise the model as being Openrent but for selling. OP asked that once you’ve committed to the fee, where is the incentive for such an online agent to sell your house? Actually its up to you to sell your house via the way you price and present it. So Doorsteps is just a way to get into Rightmove/Zoopla for £99/£199 and get viewers. Were I selling I’d give them a spin.
    • kinger101
    • By kinger101 25th Mar 18, 10:44 AM
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    kinger101
    PB isn't the only online agent, and many high-street agents offer a no-viewings service too. In fact, PB do offer viewing as well (though it's very difficult to book one). Many "on-line" agents do proper sales progression as well.

    You need to ask any agent what their service includes, and judge the quality of their adverts/photos for their current advertisements too. Pick the one you like best and negotiate.
    • Davesnave
    • By Davesnave 25th Mar 18, 11:05 AM
    • 25,016 Posts
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    Davesnave
    My house is currently on the market and already we've had to provide the Estate Agent with better photos and chase them regularly for updates, effectively doing some of the job for them.

    I went with a traditional (commission) EA because I was under the impression that they will try harder than an "up front" EA due to the fact that if it doesn't sell, they get nothing.
    Originally posted by bertiewhite
    If I remember rightly, you're in Ceredigion. I remember because we tried to buy there and 'enjoyed' the services of some pretty dire agents over there. Many of them were probably happier selling horses or sheep, I think, but at least there was no danger of attempted pressure selling!

    With regard to the photos and write-up on Rightmove, you did have sight of what they put on the internet for others, though perhaps you wouldn't have known how little follow-up or real negotiation they seem to do.

    We struggled, making offers on two properties. The agents more or less laughed at them. Later.....much later, both properties sold for less than what we were prepared to go to, but by then we were here, 150 miles away!
    'It's a terrible thing to wait until you're ready…..Generally speaking, now is as good a time as any.' Hugh Lawrie.
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