London arguably has the fastest paced and most competitive property market in the country. Stepping onto the property ladder in London is also expensive, with the average home costing almost double the national average. So when you’re dealing with property in the capital city, every penny counts. But while there’s an array of advice for purchasing property in London, how can you save money when it comes to selling?
How Much Will an Online Estate Agent Cost?
When it comes to selling property, a high street estate agent is often the first choice, but their services can carry a hefty fee. On average, UK estate agencies charge a fee between 1.5% and 2% on the final sale value of your property, in exchange for their work. While this may sound like a small figure, it can be incredibly costly. In London, where the average property price has crossed the £500,000 threshold, this fee could easily be in excess of £10,000.
To avoid these costs, many people are finding alternative methods of selling their homes, such as online agencies. Unlike high street agents who operate on a final sale fee basis, online agents generally work for a pre-arranged price. There are a variety of packages to choose from depending upon the services you require, each carrying different price tags. Basic packages start at around £500 and rise according to your needs. This is a huge saving on the average 2% charged by high street agents. With those figures, it’s easy to understand why selling your home online is an increasingly popular money saving solution.
What Services Does an Online Estate Agency Offer?
With low fees, some may worry that they may not get a professional service. However, online agencies offer very similar services to their high street competitors. The difference in price here is largely due to eradicating the middle man as opposed to a lack of services.
You can expect an online agent to:
- Visit and value your property
- Take photographs of your home
- List your property complete with description, photos and floor plans
- Market and advertise your property online
- Provide a ‘for sale’ sign
- Negotiate offers
Is an Online Estate Agent the Right Choice for me?
Selling online has it’s pros and cons, with perhaps the largest draw back being that you have to conducting your own viewings. But the pros of an online agent outweigh the cons, with savings being the largest advantage.
Essentially, an online agent could be the right choice for you, if: you would like to feel more in charge, are happy to conduct viewings, prefer not to deal with agents face to face, and want to save money.