Why Are Some Of Us Still Using Estate Agents?
Estate Agents are not a tradesman, they don’t have any crucial skill set of qualifications that is really crucial? A few years ago, we realised this. We were about to try and sell our house. The market was picking up, the area was pretty desirable and the property was affordable (below £150k). We knew that the property would sell as soon as it hit the internet, regardless of which estate agent we chose. We were right. So we handed our commission fee like the fools we were. There had to be a better way to sell a property!
There will always be some people that need an estate agent. Let’s take an extreme example, a £1million house that is quite unique and hard to value. At the middle and top end of the market there are some people that will find value in using an estate agent. The costs of employing and estate agent will be covered by the extra amount they manage to negotiate for your house, plus as part of their service they can organise and carry out the property viewings.
Type of customer? Cash rich but time poor. If this is you then a traditional estate agency is for you. Well, those estate agents need love too and how are they going to pay for their next pin-striped suit and that German top end car (nothing against Germany, ich liebe Deutschland!).
Lets look at the other extreme. You have a house in a street of similar property types in an area you know well, for example a street of the same type of 3 bed semi-detached or a row of identical terraced housing. You are aware of the current spectrum of property prices in your street and where your house sits within that spectrum…depending on the usual variations due to the condition of your property and how much improvement work has been carried out – double glazing, loft conversion etc. For most people this isn’t rocket science. There are even free internet tools to look up the sale prices for properties in your street.
So loosing £2,000, £3,000, £4,000 or even more on the use of an estate agent is a big deal for you…it is for us too! That is why we started this website.
Let’s face it, estate agents can be a slippery bunch, we know one or two. Sometimes they hardly do anything to a pick up their commission, especially when the market is buoyant. A lot of the time they arrange just one viewing and that’s it! You could do that yourself. Ok there is the advertising that they pay for in the local newspaper which isn’t really the modern way to attract a buyer, it still works though but not so much nowadays. So the internet is king…we agree. So the local estate agent advertises your property on their website – now we are getting somewhere; they stick a FOR SALE or TO LET board outside your property and they gets passers by interested….we’re good with that. Their big selling point however is that the local estate agent is a subscriber/member of Right Move or Zoopla (there are a few others)…we’ll call them the Property Portals. These Property Portals are key to the traditional and internet estate agency selling and renting process. The size of the property portal internet traffic is such that they have a firm grip on the private parts of all the estate agents, both traditional high street and the more modern internet estate agency. The property portals are like what the Yellow Pages used to be for tradesmen. But the internet pretty much killed the Yellow Pages?
So, the fee you are paying to your estate agent is partly down to their fees/charges/commission…call it what you want, plus also a chunk o change for their beefy subscription fees to the Property Portals. So really, in the old fashioned sense, all these costs are due ‘middle men’ that with some effort can be cut out selling and letting process.
Time to break this viscous cycle and take the power back! Some c’mon and tell yourself – Estate Agents Suck!
Join the revolution today and stick it to da man!
Watch a video on how to use our property search software, which uses the Google maps system.
Listing your property on EAS is not hard but it does take some effort. Check out the process by watching the below video guide to the property listing creation process.
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