What is an online estate agent?
An estate agent is a person or business that arranges the selling, renting or management of properties. An agent that specialises in renting is often called a letting or management agent. Estate agents are mainly engaged in the marketing of property available for sale and a solicitor or licensed conveyancer is used to preparing the legal documents.
Estate agents need to be familiar with their local area, including factors that could increase or decrease property prices.The full legal term and definition of an estate agent within the UK can be found on the Office of Fair Trading (OFT) website. Estate agents fees are charged to the seller of the property.
Estate agents normally charge the seller, on a ‘no sale, no fee’ basis, so that if a property doesn’t sell, then the customer will not pay anything to the estate agent and the agent will have worked for the customer, free of charge.(wikipedia).Lately, online estate agents have provided an alternative to the traditional fee structure, claiming cheaper with fixed fee selling packages.
The online estate agent is an electronic version of the real estate industry. Online estate agents can advertise a property as effectively as traditional estate agents by using digital marketing techniques, using the Internet.Online estate agents normally cover the whole of the UK, not just a specific area.
The latest technology enables home buyers and sellers to receive property details via the internet, visit estate agents websites for the latest listings and display properties for sale and for rent using PC, smartphones, tablets. In the UK properties are generally listed online on popular web portals like Rightmove, Zoopla, Onthemarket.
In the UK the INEA IDX (information data exchange) data feed is being adopted by many software to receive sub property listings back.Technology via IDX means that sub-agents collaborating can populate many more properties into their websites by working together.Such a service used is INEA who is operated by The Independent Network of Estate Agents.INEA has a number of approved service provider partners to help estate and letting agents be more profitable, informed, professional and efficient.
Agents are required by law to be members of one of the government approved Consumer Redress Schemes as offered by Ombudsman Services, (TPOS) The Property Ombudsman Scheme and (PRS) The Property Redress Scheme. Only then may an agent lawfully trade.
Real estate agents quickly understand a huge opportunity that the internet offers, a boundless real estate market, just a click away distance.According to Realtor, 90% of home buyers searched online during the process of seeking for a property and the percentage of consumers searching for information relating to real estate on Google has increased by 253% over the last years.
Best online estate agents in the U.K.
You’ve decided to use an online estate agent. But which one? There are lots out there, all offering different prices fees.Our comparison list aims to give you the important information to help you compare online estate agents fees.
Compare Best 17 Online Estate Agents:
That being said let’s take a look at the best online estate agent who operates in the UK today(housesinsale.co.uk opinion):
Fees from £495-£795
Fees from £395
Fees from £495
Fees from £679
Fees from £495
Fees from £849
Fees from £699
Fees from £195
Fees from £59
Fees from £575
Fees from £495
Fees from £249
Fees from £339
Fees from £525
Fees from £75
Fees from £999
Fees from £475
*prices may not be accurate
How To A Sell House Online
Online sites offer virtually all the services of a traditional estate agent – and their fees can be thousands of pounds lower.The Internet Has Changed The Way We Sell Property. The internet is now, by far, the most popular way to sell the property.The Internet is now far & away the most effective marketing medium for attracting house buyers. You will not find an estate agent that disagrees with that fact.
Whether you work with a Realtor or sell your house yourself, you get the best price for your home by attracting the most qualified buyers. The more buyers exposed to your home the better your chances of receiving a strong offer. Today, marketing your property online is an essential part of getting your house seen and sold.
The single most important decision when it comes to selling your house online is how exactly you want to sell your house online! It might sound a bit facetious but there are three different ways you can do this:
- Sell your house to a ‘we buy any house immediately’ company.
- Through an online estate agent.
- Sell your house online by yourself
How did online estate agents work?
The services offered by online estate agents are, for the most part, quite similar to those offered by high street agents. An online estate agent will value and market your property for you, and arrange property viewings. But there are a few significant differences like Fees, Viewings, Valuations, Marketing, etc. High street estate agents are currently charging about 1.5%+VAT for the pleasure of selling your property.
Sell your property online step by step
Decide who will sell the property: Research Agencies – The starting point is to find an agency that best suits the criteria that you have to sell your home by shopping around for the best price along with the best credentials. Look to AllAgents and Trustpilot for reviews from previous home sellers who will describe their past experiences and make a decision from there, according to value paired with expertise.
Decide what price to sell it for – If you’re a seller, you and your real estate agent should identify and agree on the approximate value of the property. Let’s say you determine your home is worth around £300K, based on comparables of similar properties sold in your neighbourhood and other market considerations.The next step is to understand the price range for the list price — in this case, somewhere between £280K and £320K, depending on market conditions, competing properties, time of year or inventory. The price range typically goes a bit higher with more expensive properties; a home worth about £1 million might have a range of £950K to £1.05 million.
Prepare your home – Every seller wants her home to sell fast and bring top £. Does that sound good to you? Well, it’s not luck that makes that happen.To get the best return on your investment and avoid turning off potential buyers you need to ensure your home looks its best when it hits the market. At the same time, you don’t want to waste effort or money on improvements that won’t pay off.
Accept an offer – Once you have successfully found a Buyer who is interested in purchasing your home, you will receive an Offer to Purchase. Evaluate this offer and negotiate the terms of the agreement until it is to your liking. Once the offer is accepted by both the Buyer and the Seller, the property transfer process begins, and your home is now legally sold.