Blog » Online Estate Agents: What are they? How are they different?

Online Estate Agents: What are they? How are they different?

You would like to sell your home but you hesitate at letting online estate agents or traditional ones help you? Or you don’t know really much about online estate agents? What are online estate agents? What can they help you to sell your home? Hopefully, this blog can help you select the appropriate approach.

Online estate agents: an introduction

Traditional estate agents charge for commission, currently starting from 1% to 2%, for a property as its value. However, many online estate agents (like 121move) offer fixed-fee services between of £300 and £1500 (£245 to £995 at 121move) and no commission. According to Landregistry’s UK House Price Index report, the average house price in the UK is £219,544, in which calculation, the high street agents fee costs at least £2,195 per sale, whereas the fixed-fee agents save thousands for vendors in the same case. By using online estate agents, the vendors will have a chance to reach 98% of Britain’s buyers who use the internet to search for new homes. In addition, vendors have more control power over the property deal with customizable packages and 24/7 services. This blog covers:

• What makes online estate agents different?
• How do online estate agents work?
• How do online estate agents benefit vendors?
• What 121move can help?

What makes online estate agents different?

1. Fees

In terms of cost, online estate agents save on overheads by taking their services off the high street – savings that passed on to vendors. In addition, as mentioned above, online estate agents (such as 121move) offer to sell properties for a fixed free from as little as a few hundred pounds (£245 to £995 at 121move), with nothing else to pay. On the other hand, traditional estate agents usually require a minimum fee of £1000 or 1.5% + VAT of the property value.

   Save fees with 121move    

2. Advertising on a large scale

High street agents claim that their local knowledge is far greater than any online estate agents, giving them a competitive edge. However, it is only potential when you desire to sell your home in the position that the traditional agent locates. Meanwhile, your selling home’s information can spread on a large scale rely on online estate agents. The economies of scale from operating across the country make another advantage for online estate agents to save vendors’ cost.

3. Flexibility

Everything also becomes flexible when it goes online. Vendors now can actively tailor the packages, track buyer viewings, arrange visiting and feedback online. The call centers and instant message equipped on their website are available in and off working hours to deal with any queries.

4. Easily to reach customer

Online estate agents essentially depend on the internet which means they operate 24/7. Potential buyers are available to view your property all day and night and so you are less likely to miss out on a sale. Additionally, the internet is wide reaching and so customers can view your property all over the world at any time.

The internet is a fast and easy solution for house searching.  Thanks to fast broadband, buyers and sellers can be connected within milliseconds.

How do online estate agents work?

The selling process is the same for vendors regardless of whether they use high street or online estate agents. The difference is that high street estate agents traditionally offer a one-size-fits-all approach, which doesn’t give sellers much control over the service — or the cost. Online estate agents, on the other hand, often give vendors more control over how their properties are sold.

How does it work with 121move?

1. Customize your package. Pay only for what you need.

• Even, 121move offers two basic low fixed-fee options starting only from £245 and one saving commission option of 0.5% covering most essential needs for every property selling, there are optional extra services as some vendors need such as EPC (Engineering Procurement and Construction) or premium advertising to optimize their sale.

2. From A to Z, only 4 simple steps to a successful sale:

• Step 1: 121move’s professional team visits every property to take professional photos and floor plans
• Step 2: Your property is advertised and is added to Rightmove, Zoopla, Primelocation etc
• Step 3: We will arrange viewings for your property, and also qualify all buyers or you directly contact and actively deal with registered buyers interesting on yours.
• Step 4: We negotiate all offers and see the sale through to exchange and completion.

   Have a browse    

How do online estate agents benefits vendor?

Cost: Fixed-fee packages lower the fee for sellers in the advance of full-set valuation and effective advertisement with no adding cost such as referencing or transportation. The same price for the same service — anywhere.

Viewing arrangement: Allow active management of time to conduct visiting that work for vendors or authorizes agents to arrange qualified customers.

Agent involvement: Offer 24/7 services and be responsibility for sale through to exchange and completion

Marketing to the public: Create adverts and utilize most viewing online portals to advertise properties such as Rightmove, Zoopla, Primelocation and much more.

What can 121move help?

For vendors:

Fixes-fee packages: 121move offers two most saving fixed-fee options in the market for vendors covering most essential needs for every property selling and being able to tailored as requirement.

   Pick a pack    

For house seekers:

Free property access: Sign up to look up properties available in 121move property portal, actively booking, directly contact with the sellers, receive newsletter on properties matching given requirement and many more benefit freely.

   Register now