It would be fair to say that there has been a huge change to the way people buy and sell homes these days. The emergence of online property portals, and the internet in general, has transformed the market, offering more options. However, there are still many traditional aspects of the property market and people are still looking for traditional values and value for money. It is possible to save money through using an online agent but can significant savings be made and are these savings worthwhile?
It is believed that around 5% of all property deals in the UK are concluded via online estate agents. You may think that this is a small proportion of the overall market but when you consider how relatively new online agents are, and the importance of the property market, this is a good level of the market for this point in time. You will also find that this figure is expected to grow in years to come.
One of the key cost benefits that come from using an online estate agent comes with their fixed fee services. Given the price of property these days, working with an agent that charges 1.5% commission can lead to a high fee. As an example, if you sold your home for £250,000; a 1.5% commission fee (plus VAT) would see you paying £4,500 to the estate agent. With an online estate agent, with an average flat fee of around £500, you have the chance to make a huge saving.
It is understandable why online estate agents can charge a lower fee, and the principles that are applied across many industries are in place here. There are fewer overheads involved with online estate agents and these savings are passed on to the customer.
The most important thing to remember when looking for an online estate agent is that not all online estate agents are the same. You need to know what range of services you are looking for from your estate agent and then you need to choose an estate agent that offers these services. There is no point in selecting an estate agent who only charges you £300 if this doesn’t include the services you believe to be important when selling property.
A reliable online estate agent will provide you with a comprehensive list of services they offer and will detail what is included in your overall fee. If an online agent doesn’t provide this information, you have to question if you want to work with them because you will have concerns about hidden fees and nasty surprises further down the line.
You will find that Griffin Residential offers a comprehensive range of services, all of which are listed. There is a range of packages on offer which means that no matter your budget or what style of support you are looking for, you should find that it is available from Griffin Residential. When you want to make substantial savings without losing confidence or peace of mind, we are the online estate agents for you.