This website uses cookies to ensure you get the best experience on our website, read more. Got it!

Real Agents Get More

16 November 2018

Read more

It’s official – what we’ve suspected all along – a “traditional” estate agent gets sellers more in their pocket than the internet-only alternative. They also secure more viewings and offers!

 

According to research by The Advisory - an independent consumer advice group - internet-only agents rely too heavily on property portals to find buyers. In fact, portals appear to be their only tool!

 

The research suggests that while Rightmove, for example, may directly generate 52% of viewings, this results in only 36% of offers and 27% of the best buyers, whereas High Street estate agents generate 48% more viewings, 64% more offers and, in 73% of cases, a 5% higher sale price.

 

On a £250,000 sale, this higher sale price translates to a loss of £12,500, if a passive intermediary (online-only) firm has been used, versus a local estate agent.

The proof is in the pudding

 

Internet-generated viewings do not engage any of the proactive interactions required to prompt a sale. For example, deeply understanding a buyer’s needs helps us to identify unseen opportunities for the buyer. This frequently results in property viewings that might not otherwise have happened. More viewings = more offers = more competition = higher sale price.

Professional property traders also prefer traditional agents

This could be the reason why professional property traders tend to use regular estate agents such as ourselves over internet-only agents. The author of the report has sold hundreds of properties on behalf of corporate relocation clients and developers’ part-exchange properties.

 

He says that while internet-only agents appear to be cheaper, estate agency fees are not the issue, and he instead focuses on the “walkaway figure - the amount received from a sale after the cost of selling has been deducted”. He says that sellers who use an internet agent could be “stepping over the pounds to pick up the pennies”. No wonder 57% of sellers who used a hybrid/online agent said they wouldn’t do so again (source: Zoopla)

 

Additionally, as internet-only agency fees are usually payable up-front, these “virtual agents” have no incentive whatsoever to perform. At Balgores Property Group, we only charge on successful completion – our revenues and our reputation depend on it!

 

You wouldn’t try to sell your Bentley on e-Bay, so why do so with an even more expensive asset? So if you’re thinking of selling, you know who to call. As your friendly, local, REAL estate agent, we’d love to hear from you. Speak to your local branch on the details below:

Basildon – 01268 271 110

Brentwood – 01277 216 800

Chelmsford – 01245 492 424

Gravesend – 01474 369 955

Hornchurch – 01708 470 756

Ongar – 01277 369 925

Romford – 01708 755 507

South Woodham Ferrers – 01245 323 729

Upminster – 01708 259 539

 

Additionally, you can see how much your home could be worth on the current market by requesting a free, instant online valuation by visiting www.balgoresproperty.co.uk/valuation

Find your perfect property with us

Modal title

close
hello content
You've added a property to your wishlist!
Icon : Cross/close

Add, manage and save properties you like to your own personal account.
To start collecting your dream properties, create your account:

Already have an account? Sign in here

Fill in the form below if you would like our team to contact you.

Contact the Name office
Icon : Cross/close

Fill in the form below if you would like our branch to contact you with more information

Contact the Property Management office
Icon : Cross/close

Fill in the form below if you would like our branch to contact you with more information

Contact the team
Icon : Cross/close

Fill in the form below if you would like our team to contact you

Contact the New Homes team
Icon : Cross/close

Fill in the form below if you would like our New Homes team to contact you

Apply for the vacancy in
Icon : Cross/close

Please fill in all the details below and a member of of HR team will be in touch soon regarding your application.

Icon : Cross/close

How much is your property worth?
Icon : Cross/close

How much can you rent your property for?
Icon : Cross/close

To arrange a FREE Valuation and Marketing Appraisal appointment
just fill in the form below or contact your local branch

Report a repair
Icon : Cross/close

To report a repair, please select your dedicated property manager from the list below: