How Do Online Estate Agents Compare With Traditional Estate Agencies?

Real estate agent

When you’re trying to sell your home, there are a lot of things that you have to consider very carefully. From the schedule of the sale to your position in the chain, the number of things that you have to think about can be overwhelming. However, if there’s one thing that’s more significant when you’re trying to sell your home than anything else, it’s ensuring that you get the right price for it. When you’re trying to get the possible price for your home, one of the first places that you will likely look will be to an estate agent. The right estate agent is essential for not only selling your home at the right price but also for taking you through much of the sale process as a whole. However, in recent years there have been several significant shifts in how estate agents can help. In particular, the rise of online estate agents have made a huge difference to many people trying to sell their homes.

In this guide, you will learn what it is that sets online estate agents apart from traditional estate agencies, their various pros and cons, and which is the right choice for you.

 

Online Estate Agents

An online estate agent is, unsurprisingly, an agency who exists online rather than on the high street. These agents often take a much more hands-off approach to selling your home, leaving many more things in your hands.

 

The Pros

According to quick house buyer Ask Susan the most significant benefit of an online estate agent is the degree to which it can allow you to save money. Many of them will value your home at a far lower rate than traditional agencies. They often take a far lower commission than high-street agents which means that you can stay in far greater control of your finances.

It also means that you can remain in control in a lot of other ways thanks to your ability to manage everything about the sale of your home online, rather than leaving it in the hands of someone else.

 

The Cons

While the overall costs might me lower, an online estate agent will often require you to pay up front rather than on the completion of the sale. This means that if the sale falls through, you’re at risk of losing out on the money that you’ve already paid.

There’s also a chance that online real estate agents won’t be local to your area which means that they may not be able to provide the kind of accurate valuation that someone with a lot of local expertise could offer.

 

Traditional Agencies

While traditional, high-street estate agents might not have the same immediate conveniences as online agents, there are still things to consider that might make them a better fit for you.

 

The Pros

One of the most obvious places where traditional agents might be a better fit is that they are likely to have a wealth of local knowledge that you can benefit from when it comes to the valuation of your home. While online agents may have a large database to pull from, that may not be fully reflective of the reality of home values in your area.

The other positive of using a traditional estate agent is that you have far fewer things to directly worry about. They will often take on a lot of the duties themselves without you having to worry about things like managing and marketing the sale of your home.

 

The Cons

Obviously, with the extra features that are often offered by traditional estate agents, that comes with a higher price point. While you won’t have to pay upfront, the costs of commission for traditional estate agents are often far more significant than those for online agents.

The extra work that a traditional estate agent will put it can be positive but it also means that you will have a lot less control over the entire process which is something that might not be suitable for many people who are willing and able to take on some of the work that is involved in selling their home.

The reality of whether you choose an online estate agent or a traditional agency will very likely come down to your personal circumstances and which compromises you’re willing to make while selling your home. After all, selling your home is one of the most stressful and difficult things that you can do, so it makes a lot of sense to try and make sure to make the process as easy as possible.