Looking to sell your property but don’t want to pay extortionate rates at your local high street estate agent? New online estate agency is becoming an increasingly popular option for selling properties across the UK, as it can save you hundreds, if not thousands of pounds.
Here’s how an online estate agent works and how it can save you money when selling your property.
Your online estate agent will send over a professional to view your property and provide you with an up to date valuation for your property. Some agents will only let a local professional do the valuation to ensure that you are receiving an accurate estimate in local market conditions.
You do not have to use the valuation that you are provided by the professional agent, if you are looking to try your luck with a higher price!
A professional photographer will be scheduled in to take photographs of your property and draw up a floor plan of your property for online marketing purposes. All other contact with your agent will likely be over the phone or via email.
Your property will be marketed online for a set period of time, similar to that of a high street agent. Your contract may have a minimum time that you must spend with an online agent before you can change your mode of sale, so it’s worth choosing an online agent with a good reputation.
Choosing an online estate agent will save you money, but may require you to do that little bit extra when it comes to selling your property. The chances are, your online agent will require you to conduct your own viewings.
However, there are some online agents who will offer packages that will provide an agent who will conduct viewings. This will likely come at an additional expense.
Unlike high street agents, an online agent will charge you a fixed fee if they successfully assist with the sale of your property, as opposed to charging a percentage rate based on the final sale price of your property.
Typically, a high street estate agent will charge between 1 – 2% to sell your property. On a property selling for £300,000, this means a whopping £3,000 - £6,000 will go to the agent.
Depending on the value of your property, an online estate agent will charge a flat fee between £300 and £1,500.
The savings to be made by choosing an online estate agent are vast. Therefore, if you don’t mind a bit of extra work when it comes to selling your property, choosing an online estate agent will help you save money.
If you would like any further advice on selling your property, we’d love to speak with you to discuss the options available to you. Contact us today at Griffin Residential.