There is Nothing Left to Disrupt: The Property Market’s Digital Revolution is Complete

May 31, 2019

mansion, 9 bedroom mansion, oxshott

As the famous saying goes, “who lives in a house like this?”. It turns out that maybe you can – if you have a cool £14.5m, that is.

On the face of it, this 9 bedroom mansion in Oxshott looks lavish, and most of us would be chomping at the bit to call such a grand property our home. Dig a little deeper though, and the property’s inclusion on emoov indicates more than a mere instruction to list.

As Bob Dylan once sang, “the times, they are a-changin’”, a line that is prevalent in the UK property market. For so long, it was a given that established high-street agents were the go-to for selling your home – especially when it came to mega houses. But the mindset is changing, with vendors now seeing the value in using a digital model such as emoov.

Saving money, no matter your property size

For years, vendors have had to negotiate with high-street agents over their fees. With agents taking anywhere between one and five percent, sellers often found themselves forking out large amounts of money to sell their home.

Let’s take our mega home in Oxshott, for example. With its nine bedrooms, three of which are master suites, an indoor and outdoor pool, spa and sauna, library room and four-bedroom detached guest house, it’s not surprising to see it list for such a high price.

A high-street agent charging just one percent of the £14.5m asking price stands to earn £145,000. And yet listing the property with emoov has cost the owner just £895. Therein lies the beauty: the cost is the same – a low, flat fee that sees you making a large profit whether your home is worth £100,000 or £10,000,000.

Digging it with digital

location location locationYou only need to look at industry news to see that high-street agents are being encouraged to adopt digital models. It isn’t the other way round – there aren’t calls for digital agents to be more like the high street. Such narratives lay the foundations for how the UK property market is evolving.

Taking on high-level instructions, such as this one-million-pound house in Milton Keynes with its five bedrooms and award-winning architecture that was featured on Channel 4’s Grand Designs, or the 9-bedroom Grade II listed property in Oxshott, is further testament to the nature of how the industry is changing.

People generally want greater control, whether it’s managing their online bank account, choosing which shows to watch on Netflix or managing the sale of their home. However, it’s important not to forget the need to combine that control with human help.

A digital world with a human touch

The main hard sell for high street agents was the claim of a physical presence. There may be some online options where that argument holds weight. But with emoov, the notion of the vendor being left to do everything themselves falls flat.

Instead, they have total control over their sale, choosing viewing times, showing the property and editing their listing if needed. Take the 9-bedroom house in Oxshott, for example: the vendor can decide which features they wish to highlight and how they want to advertise the property.

The human element still plays a strong role however, and is something we champion at emoov. It’s why vendors get their own dedicated property expert, who is there to give them transparent and impartial advice. Sellers essentially get total control with complete customer support.

Getting Prop-techy with it

online property market, online propertyThe high-street agent hasn’t been consigned to the scrap heap, but the property industry’s disruption from tech is complete. What follows will be more akin to an evolution as online agents take the reigns and gradually gain market share.

From saving money to having more control, from having access to a helping hand from a human to a 24/7 approach to managing your home, owners of all property types are realising the benefits of using a digital agent.

And there is no clearer statement than the listing of a Grade II listed mansion that sits  atop a hill. In a way, it’s fitting that the Oxshott property sits high with clear views over London and everything that surrounds it.

We like to think emoov is doing something similar: sitting high while viewing the entire landscape and making sure that the biggest beneficiary is all the sellers and buyers in the UK.