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Why Online Estate Agents Are Good For Your Sale



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By : Brazg Gavin    99 or more times read
Well, you may or may not be aware that two of our biggest bones of contention regarding conventional estate agent style are:

A: The fact that estate agents are mainly responsible for valuing homes on the UK market, even though their fee is a percentage of that valuation. This gives them an incentive to wrongly inflate values.

B: Also, there is the issue of their monopoly of the property market although it is now being met head-on by private sales portal and online estate agents.

As a result of the two factors, we could not fault several people to (not us... oh no, we would never be so presumptuous) blame estate agents for manipulating the prices that serious corrections (crashes) become necessary.

On the other hand, we have a new type of estate agents- online estate agents, which charge a fixed cost with regard to services. This is typically on a stepped basis, with the lowest fee being purely for online advertising on their own website and/or a selection of portals, and larger packages including more portals, and packages including the agents conducting price negotiations and viewings on your behalf.

The most important factor is that their customers will spend less, because the fixed fees are lower than 1-2% of the average property value and gets a reasonable price as well as the best assistance from the agent, because there is no burden on them to inflate the value, and it is in their best interests to sell quickly to increase turnover.

This is why we are rooting on them... If their success can exceed that of traditional agents then we will likely see more traditional estate agents start charging a fixed fee.

For now, online estate agents are the perfect centre between private sales and traditional estate agents. Private sales is less costly and if appropriately utilized can generate a quick sell with a good price, however, for the reason that private sales sites can't list on the agent-oriented portals like Rightmove and Findaproperty, there can often be a lot of work required. Rightmove and Findaproperty will accept listings of online agents, but -- again -- the seller pays less in order to do so.
Gavin Brazg is editor of TheAdvisory.co.uk - UK's largest free resource of free expert advice for property sellers.

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