Online Agent Fee
Anywhere between £200 - £1000 – however, this is more often than not payable upfront, therefore meaning that you’ll lose the money whether the property sells or not!
2. Amount of houses that complete
Between 48% and 58% of houses on the market with an online agent make it to completion. This is in comparison with the 80% of listings making it through to completion with a traditional high street agent. A drastic difference.
3. Change in Asking Price
65% of properties listed with online agents change their asking price. Whether this be a reduction or a rise, 65% of online agent’s listings were put on the market at the wrong price.
Instructing another agent
17% of properties end up going on the market with another agent. This figure would potentially be higher if it wasn’t for the fee with online agents often being payable whether they sell it or not. 44% of these vendors that instruct alternative agents end up selling within 2 months.
“I was really unhappy with Purplebricks. I received very few updates. It felt like they put more effort into getting me on board to get their up front fee than selling my property. I have now listed the property with a local estate agent” - Purplebricks customer – Switched to a traditional estate agent
It’s understandable that homeowners are attracted to online estate agents - who doesn’t like the idea of saving money!
However, research clearly shows that you won’t necessarily be saving money by appointing an online agent, and 40% said they spent more time managing the sales process than they thought they would. Time can often be worth money! This is why we recommend vendors do their research, why not invite us out for a free no obligation valuation on your property where our listers can discuss what you want from your sale, what packages we have as a high street agent, and how we can provide the best service possible.
All data and quotes acquired from https://www.getagent.co.uk/labs/online-agents