By 2020, they say 50% of house sales could be done via Online Estate Agents?
It is somewhat not exactly clear what falls in to ‘Online Estate Agency’ as ultimately it could be any ‘estate agency‘ that is online which would account I would say for more than 99% of all the industry? Though I hear more and more that online does not include traditional estate agents, ie those with an office / high street presence – It does include online, hybrid, do it yourself…
We must all agree that no matter what industry you are in, from takeaway pizzas to car insurance, online has and continues to change and shape industries with the way it offers businesses a vast array of opportunities for marketing and generating business.
I think we can safely say that online only estate agents are all about reducing fees for the end consumer, this may entail a reduced overall service and additional costs for extras which would normally form part of the whole package from traditional estate agents, but the appeal to the consumer is that % saving which is often in the £1,000’s. Importantly, with online estate agents, their property will still be appearing on property portals like Rightmove & Zoopla.
A recent, widely reported survey by Face For Business, showed that from 1,000 members of the public questioned about using online estate agents, 60% would still prefer to go with a traditional estate agency… Depending how you read this and which side of the fence you are on when reporting on it, it still shows a massive 34% would go with online estate agents (6% stated ‘Don’t Know’).
I do recommend to read the full report from David Clensy on the Bristol Post website here.
You May Also Enjoy
Interest rates matter, but asking price is still what sells a home
Three-bedroom homes dominate Britain’s quick-sale market
£3bn tenant deposit shake-up on the cards
Brexit housing market winners and losers
The Rental Market is Rebalancing
