I founded eMoov to be the alternative to old fashioned High Street estate agency. But better. And way cheaper.
For too long you have had to pay through the nose to sell your home. Now, thanks to the dominance and convenience of the Internet there is another powerful way.
We are real people, in a real office but with vastly lower overheads than ‘traditional’ agents. We pass those savings on to you in order to provide a full on estate agency offering with fee options ranging from just £349.00 plus vat. Conversely, the average agency fee in the UK is 1.6% of sale price. In monetary terms that’s about £2700.00 based on the average property value, plus a lot of vat.
Money To Burn?
In not too many years time the online eMoov model will be the way that most people will choose to sell their home. Going to a High Street firm and paying a huge commission will be for those, like the estate agency industry itself, that do not like change and would rather just do what they have always done. There will always be room for a flash shop front here and there to accomodate that view. There just won’t be that many of them because, frankly, those looking to buy or sell a home do not go in to estate agency offices anymore. Visits, as opposed to phone contact, email and the property portals, now account for less than ten percent of an agent’s enquiry sources.
And I do speak from experience, having run a five branch High Street estate agency chain for eleven years up until November 2009, at which time I sold out realising that significant change was afoot.
Traditional High Street estate agents will continue to try to convince the public that their eye watering fees are somehow justified in return for taking measurements and photographs, listing on a selection of property portals, having a mailing list, arranging some viewing appointments, negotiating an offer and seeing a sale through to moving day. But what they are actually justifying are their own high overheads and not why the selling process commands such large commissions.
What About Coverage?
Because those large commissions are simply not necessary. Not in this day and age. eMoov is proof of that because we do what that the traditional guys do, but for much less. In fact we probably list our clients’ homes on more sites like Rightmove, Prime Location, Globrix and Zoopla than they do. And yes, we have a mailing list and we are formally registered with the Office of Fair Trading and with the Property Ombudsman. Etc….
Property lawyers charge hundreds, not thousands. Mortgage brokers earn hundreds per deal on average, not thousands. So why would you pay an estate agent thousands?
Particularly now that you have the choice not to…