The Pros and Cons of Using an Online Estate Agent

When you decide it’s time to sell your family home, you can face uncertainty and worry. As well as trying to make your property look more appealing to buyers, you have the added stress of finding your new home, and trying to ensure that the move has as little effect on your children as possible.

Before, you may have contacted your local high street estate agent and asked for a valuation. Now, there are online estate agents, too. If you have not used an online agent before, here are the pros and cons to help you decide between online and high street.

Pros

Lower Fees

A traditional high street agent can charge fees that range anything between 0.5% and 3%. While this may sound like a small amount, this could be up to £3000 for a £100,000 property. Online agents, charge a much smaller fee, with sites like Hatched.co.uk selling for less than £500.

DIY Approach

For some people, the most stressful part of selling their home is the wait. Unless someone makes an offer, or your agent arranges a viewing, you are left in the dark. By using an online agent, you are in the driver’s seat and fully informed at every stage.

More Freedom

Many high street agents offer the same packages, which include a set number of services. But with an online agent, you can tailor your package. Choose between lower priced options where you conduct your own viewings or pay more for premium services.

Cons

Upfront Fees

While an online agent has the advantage of lower fees, unlike the traditional alternative, these must be paid upfront. Although cheaper in the long run, this means that even if you do not sell your home, you have to pay for the service.

You Negotiate

While not true of all online agents, for the most part, when listing your home for sale in this way, sellers are required to handle their own negotiations. This will come down to personal preference but may be a negative for some.

No Office

One of the reasons online agents can offer their services so cheaply is because agents do not operate from an office. However, this can also be a drawback, as it means most of the interaction you have with your agent will be on the phone or via email.

These are the main pros and cons of selling with an online agent, to help you select the best sales method for you.