Following the news that Purplebricks has entered into a consultation process with all their employees due to a “a challenging position with regards their financial performance”, suggesting that this perhaps isn’t the best business model. So now is as good a time as any to discuss whether an online option is your best option when selling or renting your home.
The main lure of instructing an online agent for many is the hope of saving money when moving home by paying a fixed fee rather than a % of the sale price, often in the form of an upfront fee which is payable even if your home doesn’t sell.
While more established online estate agents can offer a 24/7 service, you may find yourself dealing with call-centre staff who have little or no insight into the area where you live. This could affect the valuation of your property and the effectiveness of any online advertising as well as leading to difficulty if any issues or questions arise during the conveyancing process.
A recent study by The Advisory suggested that when in the hands of a competent high street agent you are, on average, likely to have 48% more viewings, leading to 64% more offers which could translate to a 5% higher sales price. They also suggest that you are statistically less likely to have a sale fall through.
Having new models and the latest technology is always a great thing to have, but only if balanced with keen local knowledge, personal service and a desire to get the job done.