subject: ‘On- line' v. ‘High Street' Estate Agency [print this page] On- line' vOn- line' v. High Street' Estate Agency
The above heralded Tesco's Supermarket's re entry into the property selling business & once again opened the debate as to do Estate Agents offer value for money & is there real choice for the consumer?
Having been involved with the property business since 1989 I have witnessed the way in which the internet has dramatically influenced the way in which a property is marketed to the extent that now 85% of home buyers, at least, find their purchase via the property portals. The traditional methods of selling, or renting, a property relied heavily on newspaper advertising & personal visits into the High Street offices, both expensive mediums which in the main equate to estate agents fees ranging from 1.25% through to 2% & in some cases 3-3.5% for a multiple listing. The question rightly asked by consumers & now the Office of Fair Trading is -if it costs less to effectively market a property & people are not visiting High Street agencies why are home sellers being charged the same percentage as they would have paid fifteen- twenty years ago?
Some sellers in very recent years, disgruntled by this, have turned to the many private listings sites available on the internet but for most the idea of preparing property details, taking calls from prospective buyers, & moreover negotiating offers is not appealing. Similarly Landlords find, acting for themselves, the processes of referencing Tenants, preparing legal agreements, & inventories tricky as well as time consuming.
I set Oxford Homes Direct up in 2007 to provide a service which offers, & has successfully provided, another choice for property owners in Oxfordshire. The advantages associated of advertising your property via a superb range of property websites, which includes rightmove,' findaproperty,'' primelocation,' & zoopla,' together with a personal, professional, knowledgeable, & experienced approach. I passionately believe we offer a fee structure & service which offers real value for money, without compromise, whether you are selling or letting your home.
EXAMPLE: House selling Price 250,000 typical fee of 1.5% = 3,750.00
Oxford Homes Direct fee selling at the same, .75% = 1,875.00
Lettings service with fees starting at 195.00 for Tenant find/ reference.
Within many traditional quarters of the industry there had been a strong denial that on- line' would be seen as a viable alternative to the High Street' but this acknowledgement, from the National Association of Estate Agents, came in October 2009:
Philip Bullman, of the NAEA, told Sky News Online that the internet posed a threat to high street branches but insisted that there would always be a role for an agent.
"I do think there's an opening for a virtual estate agent out there but you still need the local experience and the people on the ground," he said.
Further adding: "But yes, I think maybe the day of the big shop front is nearing an end."
During the years 2007- 2009 one in four estate agents in the UK closed down. As we enter a new decade, & an ever challenging market place, agency must adapt further to adopt new methods of trading more readily. A more sustainable business model based on offering a range of property related services at reasonable cost whilst offering straightforward knowledgeable advice. The days of solely relying on a property boom' are certainly over.
Buying or selling a house then contact us we are estate agents oxford and we specialize in oxford property management, courteous and professional service.
