Selling your home with an online estate agent

March 29, 2016 by Brendan O'Neill

Property Market

As more people turn to the internet for essential services, experts believe that more property sellers are likely to use the services of an online estate agent, as they realise that they charge far less than a high street estate agent.

Fewer than 5% of people who are selling their properties currently choose an online estate agent, although their services are much cheaper and they utilise the potential of well-known property websites to market homes for sale. Over 95% of property searches are carried out using websites like PrimeLocation, Zoopla and Rightmove.

According to experts, this trend will change as people begin to realise that an online estate agent provides an excellent service, for a much lower cost. Property advertising, valuation, house viewings and more can be dealt with by an online estate agent, for less than £1,000, no matter what the property value is. A typical high street estate agent will charge 1.5% of the selling price of the property. For a home costing £190,000, that works out to £2,850 in fees.

Online services differ in cost and the companies offer various services, including hosting viewings, valuations, market appraisals, for sale boards, professional ads and exposure on the main property sites. According to Katherine Binns from HomeOwners Alliance, the financial savings of online estate agents make them a potential alternative to a high street agent, especially as they are far more than a DIY service and offer a comprehensive service.

It may be possible to obtain a recommendation for an online estate agent from your mortgage adviser, who is CeMAP qualified and has extensive experience of the property market.