The hefty price for being online

Every day property portals such as Rightmove and OnTheMarket.com receive millions of hits from people looking to buy or rent a home.

In order to have your property advertised on one of these sites you need an estate agent acting on your behalf and in recent months, more and more people have turned to using online agents. Their flat fees are less than those charged by traditional high street agents and attract customers and investors alike.

However, unlike estate agents who operate on a ‘no sale, no fee’ basis, online agents charge their fee regardless of whether they sell the property or not leaving many people with a hefty bill and an unsold property!

According to recent studies, the lower fees set by online agents equate to a poorer service with one user saying a lack of communication and an overly optimistic valuation led to the lack of sale.

Property buying agent Henry Pryor points out that 20% of all of the properties on Rightmove have been on sale for six months or more. That means for those advertised with online agents, the fee has been paid without the home being sold. So, sellers using online agents may find it is much cheaper, but only if they manager to sell. Otherwise they have, in effect, joined a very expensive listing site.

Here at Jan Forster Estates we pride ourselves on our traditional methods. We have branches in key areas of the North East where our clients can pop in at any time and speak face to face to a specialist advisor. Our accompanied viewing service is available free of charge and we give viewing feedback as soon as we have it. If you’re thinking of selling or letting, choose an agent that ticks all the boxes and give us a call today!