Are Estate Agents Really Worth The Money?

So you want to sell your house? Read about the pros and cons of estate agents, online estate agencies or simply going it alone.

Estate agents have somewhat of a negative stigma attached to them. A quick google search will tell you the opinion of the general public. Nevertheless, they are traditionally seen as the go-to people when selling our homes.

However, the introduction and popularity of online estate agents show that people are looking to alternative methods of selling their property. With other options available, are estate agents really worth the cost?

 

for-sale-sign

Image by Ian Muttoo

The Personal Touch

The main benefit of going through a high street estate agency is that you get to speak to someone face to face, who knows your particular market well and are there to help you through every step of the way.

A high street estate agent is a real and personal intermediate between you and the buyers, while online estate agencies are a bit more virtual.

 

Paying the Fees

For the most part, estate agents will charge a percentage fee of the price of your house. This varies from agency to agency and could be anywhere between 0.75% and 3.5%. In monetary terms, this means that you would pay £6,000 if your house sells at £300,000 at a 2% rate.

This seems like a lot of money especially when online agencies charge just a fraction of that. If you manage to sell your house with an online agency you will potentially be saving thousands, although flat fees are paid upfront regardless if you sell your property or not.

 

Advertising the Sale

Advertising the sale of your house is of utmost importance. Online agencies will be promoting your house across a number of property websites. Most people now use the internet to search for a new house so it is advantageous to have your house online. A lot of high street agencies won’t be able to do this, but they have more of an advantage when it comes to advertising your house on a local level, including a physical shop window for people to look in as they’re passing.

Advertising the sale of your house independently will be more difficult and time-consuming, so it’s important to consider if you have the time and patience to spare.

 

Viewings

Both high street and online estate agents will take photos of your property and arrange viewings. However they differ when it comes to showing prospective buyers around. If you prefer to have  an expert help you with negotiations who can better sell the features of your house, the high street is probably a better option for you.

Conversely, online agencies will put you in touch with prospective buyers  and you have to arrange viewings yourself, which can often make or break a sale

All in all, it us upto each person’s individual demands. Most services will be provided by both high street and online agencies.  If you’re looking for the cheapest option then online agencies are the way to go. On the other hand, if you prefer to have a professional with you every step of the way the high street may be better for you.

If you have the dedication and are proactive then you could always forget the agencies and do it all yourself, but it’s worth taking some advice from local estate agents
article by – Tooba Kazmi

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