Advantages and Disadvantages of Selling your House through Online Estate Agents

Selling your house through estate agents presents numerous advantages even though these will relate to your personal circumstances. While selling through online agencies is cheaper, the services offered cannot compare to what you get when you engage a high street estate agent. Moreover, there is less involvement from the online estate agent after the initial meeting and marketing service has been done.

buyanyhouse_258Therefore, when examining the advantages of selling online, you need to relate these to your present circumstances. For instance, how soon do you want to make a sale and for what price are you willing to sell your property?

Advantages of Online Estate Agents

There are two main advantages of selling your property through online estate agents. These are:

  • Convenience and flexibility – Selling property through online estate agents allows you to come up with a package that will accommodate your pocket as well as your circumstances. For instance, you may opt for extras such as management of conveyancing issues, viewings as well as increased communication with prospective buyers among others. You can track these developments online. Moreover, the majority of online agents do not have exclusivity clauses in their contracts thus allowing you to list your property with more than one agency especially if you must sell fast.
  • Affordability – This is perhaps the biggest advantage of online agents. These agencies usually charge a modest fee to list your home that cannot compare to the amount of money high street agents charge based on commission.

Disadvantages of Selling through Online Estate Agents

There are numerous other factors that you need to consider when deciding how you will sell your home other than the cost of selling. Generally, you need to consider the time through which you must sell and the amount of money you need in order to get started with the process. Some of the drawbacks of online estate agents include the following:

  • Upfront Payment – Online estate agents usually require that you pay their fees upfront before they can list your home for sale. However, it does not matter if they will sell the home or not because the fees charged is for listing and not selling. As such, if you do not have cash then these agencies will not take you seriously.
  • Lack of incentive to secure best price – The lack of an incentive to earn more commission or a higher fee makes these agencies less aggressive in securing the best price for you. Even then, with extensive research, you might find those agents that offer commission based fees that could lead to better prices.
  • Lack of knowledge – The majority of online estate agents will not have knowledge on the property market where your property is because they are based in the headquarters. As such, they may not be in a good position to advice you on the status of market to your advantage. This lack of knowledge may sometimes lead to poor decision making and even unsatisfactory selling price that is not reflective of the value of the property. On the other had high street agents will have an insider’s understanding of the market and can work hard to get you the best deal possible.

Overall, just like high street estate agents online agencies have both advantages and disadvantages that you must take into consideration in order to ensure that you make the right move on the sale of your property.