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Why having a DIY approach to selling your home doesn’t always pay…

June 12th 2019
By: Melanie
Why having a DIY approach to selling your home doesn’t always pay…

In a really buoyant housing market it makes it easier to sell your most valuable asset through an on-line agent as properties generally sell, even if the price valuation isn’t 100% accurate.

However, in the current economic climate when pricing is key to selling, it is even more important to instruct a qualified and experienced estate agent to ensure that your property is priced correctly. If a property doesn’t sell in a normal time frame, around 6-8 weeks this is usually because it hasn’t been priced correctly in the first place. Once a property has been over-valued and then reduced it becomes much harder to sell, as savvy buyers are often see this it as being much less of a desirable proposition. 

Traditional estate agents are also trained to negotiate, a stage which is very tricky for someone who is inexperienced, and could lead to losing a sale. When considering everything that a traditional agent, such as years of experience in the local area, a qualified list of buyers, on-line presence as well as on the high-street and so fourth it becomes apparent that they are really good value for money, you will pay more than an on-line agent in fees but like everything in life, you get what you pay for. 

GetAgent the review site has also found that traditional agents such as Intercounty are being considered as being value for money with regards to fees.

Colby Short, founder and chief executive of GetAgent.co.uk, said: “We’ve seen some big changes to the sector over the last decade through the rise and fall of the online agent and this consumer learning curve has led to an adjustment in opinion when it comes to the fee charged to sell a home.

“While a low fixed fee may have seemed like the future of home selling and many may have sold successfully via that model, a number of high-profile company collapses along with a consistent string of customer service failures has seen the market share of online agents fail to live up to expectation.

“Previously, the commission fee charged by traditional agents was seen as too high, I think the consumer is now starting to realise that you get what you pay for.

“To pay a few thousand pounds in commission to achieve a higher sold price while securing a buyer in current market conditions is ultimately much better value for money than a few hundred up front and no sale achieved at the end of it.

“Of course, the current lethargy plaguing the market is not ideal and has evidently had an impact on the price achieved and the time it’s taking to sell, but I think it has helped demonstrate the worth of a good estate agent which is a silver lining for the industry at least.”

With recent changes to the landscape of estate agency, including online-only providers and new fee structures, it may come as a surprise to some to see that traditional estate agents are considered good value with regards to fees and value-for-money, estate agent comparison site GetAgent has found. 

The review site has found that 84% of home sellers who purchased a property over the last year decided to use a traditional estate agent, with 69% of those feeling that the fee which they paid was good value for money. It would seem, therefore, that when making one of the biggest decisions that many of us will ever make, the traditional method of building a relationship with an agent who then leads you through the buying or selling process is still heavily favoured. 

Colby Short, founder and chief executive of GetAgent.co.uk, said: “We’ve seen some big changes to the sector over the last decade through the rise and fall of the online agent and this consumer learning curve has led to an adjustment in opinion when it comes to the fee charged to sell a home.

“While a low fixed fee may have seemed like the future of home selling and many may have sold successfully via that model, a number of high-profile company collapses along with a consistent string of customer service failures has seen the market share of online agents fail to live up to expectation.

“Previously, the commission fee charged by traditional agents was seen as too high, I think the consumer is now starting to realise that you get what you pay for.

“To pay a few thousand pounds in commission to achieve a higher sold price while securing a buyer in current market conditions is ultimately much better value for money than a few hundred up front and no sale achieved at the end of it.

If you would like to find out how much your house is worth why not pop into your local branch of Intercounty for a chat and a coffee or call our team on 01279 713733 or book a valuation today to talk to one of our local experts who can advise you on how to get the best price for your home 

Check out our recent blog on our top tips on how to add value to your home.