The rise of online estate agency has been seen by many as a revolution to the property market, however – I believe this to be a misnomer.
It’s easy to sell properties when the market is rising and prices are going up, as there is always going to be a clamour for your property. But, as price increases slow down, like some parts of London currently – property has started to fall. This means now more than ever it is imperative to rely on a traditional estate agent, to cleverly market your property and see your purchase through from beginning through to the end.
An online estate agent is great for saving money if they succeed, but if they don’t succeed in selling the property straight off the bat, then your property is easily forgotten. This is because it’s the payment upon instruction that motivates the agent.
Now more than ever the liaison and co-ordination between estate agents and solicitors in the sales process, means that we need to dedicate significant amounts of time to working and trying to make sure that the property gets through to a satisfactory exchange of contracts.
The online market will always have its place, and there will always be people that believe that they can get a bargain, and for a lucky few – they might. I am not here to say that they categorically do not have a place in the market, however, I know that if I was selling my home I would want someone who was dedicated to making sure that no stone was left unturned, because as we all know it’s the biggest sale or purchase that most of us would ever make.
My message to all is to think carefully before you commit, because a £1000.00 up front to an agent that then subsequently doesn’t sell it, will make what you thought was your cheap estate agency fee, latterly even more expensive.