By 2020, they say 50% of house sales could be done via Online Estate Agents?

February 3, 2016
online only estate agents

An interesting piece that I read online via by David Clensy in the Bristol Post highlights the growing trend of sales happening via Online Estate Agents. Obviously, as more and more online / hybrid estate agents then the inevitable outcome will be that more sales happen via them, but is this a trend that is actually growing in strength over statistics?
The Bristol Post states: “Increasingly the For Sale signs adorning properties up and down the city are not those of the traditional high street 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.

 

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Breaking News

Real-life value of the most famous Christmas film homes

The real-life value of the most famous Christmas film homes, from budget classics to multimillion-pound mansions New research has gathered and analysed the estimated valuations of real homes featured in popular Christmas films, ranking them by cost. The priciest homes are featured in The Holiday, Trading Places, and Home Alone, with Amanda’s home from The…
Read More →
Estate Agent Talk

77% of buyers refuse to buy a flood risk property

Despite 4.7 million English homes facing flood risk New research from Lyons Bowe has revealed that 77% of homebuyers would not consider purchasing a property in a flood risk area, despite more than 4.7 million homes across England currently being deemed at risk of flooding. The findings come as the Government launches a new flood taskforce amid…
Read More →
Letting Agent Talk

Poor Communication becomes Expensive at Scale

The hidden cost of fragmented property management By Adam Hills, Client Services Director, LRG Living Markets A landlord asks for an update on a repair. The property manager asks the contractor, who is waiting for access from the tenant. Meanwhile, the accounts team has received an invoice but cannot tell whether the work is complete.…
Read More →
Estate Agents should not all look the same
Estate Agent Talk

When Estate Agents Decide to Go Solo

Leaving an established estate agency to work independently gives experienced agents more control over fees, client service and working hours. It also brings responsibility for compliance, cash flow and every part of the customer experience. Before handing in your notice, test the idea against realistic sales volumes, local competition and the amount of time you…
Read More →
Estate Agent Talk

What Should Buyers Ask Before Reserving a New Build?

Research from Skipton Building Society has found that 44% of aspiring first time buyers would rather buy a new build than an older property, with just 30% favouring an older build. Modern fittings and appliances were the biggest draw, cited by over half of those who preferred a new build, alongside the promise of lower…
Read More →
Breaking News

The UK cities with the largest property price increases revealed

A new study has unveiled the most challenging UK cities for first-time buyers. Newry leads Northern Ireland’s ranking, with a property price increase of 12.8%, while Hull leads Great Britain’s ranking, recording an increase of 6.6%. The research examined data from HM Land Registry to reveal the cities that have faced the highest property price…
Read More →