Can the Internet Destroy Estate Agents?

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Spectator online estate agent coverage screenshot

The Sell My Home team were thrilled yesterday to read a rather controversial article in the Spectator about whether traditional high street estate agents have had their day.

The journalist Harry Mount raises some really interesting points and statistics which we thought were worth breaking down below:

  • By 2015 50% of the property sales market will be sold via online estate agents
  • Why pay someone £20,000 to sell you a million-pound house in London, but £2,000 to sell you a similar £100,000 house in Burnley?
  • Typically, 8 per cent of your (high street estate agent) fee goes on the estate agent’s branch, 7 per cent on his car and 51 per cent on his salary and the firm’s commission
  • With online agencies you tend to conduct your own property viewings — a recent YouGov survey says 55 per cent of Britons would prefer, rather than go to the bother of giving estate agents a set of keys and arranging mutually convenient viewing times

As the only online agent who lists on Zoopla & Rightmove to be mentioned, we’re thrilled that our name is up in lights. We hope that the debate resonates with you – if you’d like to hear more or even to challenge our team on a few of Harry’s points, give us a ring on 0203 441 2345.

Equally, to see just how much money you could save with an online estate agent like us, have a look at our pricing packgages and have a play around with our saving calculator on our homepage.

Have great weekends all!

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