High Street V/s Online Estate Agent: Who Gives You Better Value For Money

By Author: Tej Sanotra
Total Articles: 1
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Unlike the days of yore when the local high street estate agent was the only option for people looking to sell/buy their homes, property owners today have a multitude of choices. This is primarily due to online platforms that encourage people to list their homes for free or for an upfront payment. Does this mean that it’s the end of the road for high street estate agents? That may not seem to be the case, because of the many benefits of choosing a traditional estate agency. Here are some of the pros and cons of choosing either of them:

In terms of Fees:

Online estate agents win hands down when discussing fees. Online agents charge an upfront payment (usually around £500) while estate agents do not charge you until the sale is closed. But they charge a commission which is usually around 1% - 3% depending on the regional variation. As for online agents, they do not work on commission basis. Why pay an average of 3% when you get the same service for 0.5%? True, that the upfront payment is non refundable, but online agents offer a number of services like professional photos, zero charges to renew listings, ...
... etc. So if your house isn’t sold, you aren’t exactly at a loss.

In terms of In-Person Experience:

As humans, we’ve evolved mainly by relying on our eyes and eyes. In-person contact with the high street estate agent helps us judge and develop confidence about his abilities. You can always walk in to the high street agent’s office and discuss with him/her directly about your fears. When dealing with an online agent, this isn’t always possible. But the trend certainly seems to be shifting towards online experience. In fact, a recent survey conducted by Halifax reports that around 62% of people looking to purchase or rent a property, begin their search online.

In terms of end user experience:

Online agents have a boon of sorts for property owners who had to deal to high-handed agents. It also offers buyers and sellers a better choice and better value for money. Lured by commissions, high street agents try their best to get the best possible price for the seller. But this has also led to a unrealistic increase in property prices, even when the market is gloomy. Thanks to online agents, property owners now have choice. They can pick and choose from thousands of properties listed on websites.

There are pros and cons of choosing both; that is why perhaps there’s been an increasing trend among estate agents to maintain their local office besides offering online listing services.

The Author is an experienced estate agent in Watford and an experienced professional with more than 15 years of experience in sales and letting. He has extensive knowledge about the local market, having lived in Watford for his entire life.