Back in the depths of time, online estate agency was traditionally aimed at those looking to save the maximum amount of money and rightly or wrongly was targeted at those with lower value homes. Things have most certainly changed today, though, and now more than ever vendors with properties worth more than £1 million are taking the online route – the main reason being that the higher the value of their home, the more they have to shell out to their local estate agent. But, do higher value homes require more work from an estate agent and therefore are their fees fair? One of our Vendors here at Sellmyhome.co.uk feels particularly strongly about this subject!
Today was a special day for everyone in Sell My Home Towers, as we were a main feature in Bricks & Mortar in The Times which focused on one of our new launches, Coolham Manor, owned by Olympian Mike Corby. Coolham Manor is the first ever country estate to be sold solely online. Mike feels passionately that the circa £100k fees that he’d have to pay his local estate agent to sell his £5.5mill home would not be warranted due to the levels of work involved.
Mike Corby says: “I became slightly irritated by the senior agents who came to see me and acted as if I was lucky for them to consider taking on my property. Then they told me their commission structure, which was 1.75 per cent, with almost no room for negotiation. My feeling is that if you get 1.75 per cent for a £2 million property, why should you get three times that amount for a £6 million property when the amount of work you do is approximately the same.”
Mike has got an extremely valid point! Leaving the costs aside, having lived at Coolham Manor for over 20 years, he feels he knows the intricacies of the estate better than any agent could. Having been on a tour with him when we visited the property and learning that the actress Anna Massey was born in one of the bedrooms, to the types of birds in the Avery and the time of year the garden looks its best, Mike is absolutely best placed to undertake his own viewings. On the sale of an estate of this size and with a good property lawyer in tow, cutting out the middle man estate agent will without doubt save Mike both impressive amounts of time and money.
It wasn’t just The Times who featured the sale of Coolham Manor today, online prime property sitePrime Resi featured Mike’s home as their prime property of the week too. There is certainly significant buzz about this property sale and with a host of higher value listings on our site from a £3.45 million family home in Putney to a trendy £2.895 million flat in Kensington, we feel that this prime online trend is set to continue. People en masse are quickly realising that selling their house online with a purely online estate agent is the way forward.
For example, if you used us to sell your home on the internet and it was worth £365,000, then you’d stand to make a saving of over £6000 once you’d sold your house. That kind of money could buy you a car, go towards school fees, family holidays and many other similarly important things.
If you’d like to discuss selling your home online with Sell My Home then please do give us a call on 0203 441 2345.