High street estate agencies ‘generate more viewings and offers and higher sales prices’

13/11/2018 13:39:01

People who sell their homes through high street estate agencies are more likely to achieve a higher price than if they market their property through an online-only company, a new study has shown.

Research for The Advisory – an independent consumer advice group for house sellers –  said high street agents generated viewings, more offers, and in almost three-quarters of cases a 5% better price than online-only firms.

According to the report, internet-only agents that rely on portals to find buyers provide a poorer service because while Rightmove generates 52% of viewings, it accounts for only 36% of offers and 27% of the best buyers.

In contrast, high street agents generate 48% more viewings, 64% more offers, and in 73% of cases a 5% higher sale price which, for a £250,000 sale, means an additional £12,500.

Paul Burns, Director of Scottish Property Centre Cardonald, said the findings demonstrate the continued value of selling your home through a local, high street agency.

He said: “The figures don’t lie, and they clearly demonstrate that the best way to achieve the maximum sales price for your home is to use a -tried-and-tested local agent.

“Online agencies will promise the earth at a knockdown price by leaving it to property portals to do the work but, as the Advisory research shows, there’s no substitute for a skilled professional with excellent local knowledge working on your behalf to find the right buyer for your property.”

According to the study, the average UK high street estate agency fee is 1.18% + VAT. It says agents could charge up to 4% commission + VAT and still achieve a better result than an internet-only listing service charging £849.

A total of 202 sales were studied by the The Advisory to compare ‘passive intermediary’ and ‘proactive local estate agent’.

It said professional sellers - include builders offering part exchange, corporate asset managers, and banks disposing of repossessed properties – don’t use online only agencies.

The organisation is run by Gavin Brazg, a professional seller managing a team which buys and sells houses on behalf of corporate relocation companies and developers offering part exchange.

If you’re looking to buy or sell a house contact your local Scottish Property Centre branch or visit: https://www.scottishpropertycentre.net/

 

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