Why an Online Estate Agent is Your Best Choice

08 February, 2023

In June 2022 property market started slowing down. From an estate agent's perspective, the UK property market at the beginning of the year was fairly stable, with some signs of growth. Despite recent interest rate increases (a 14-year high at 4% after a recent Bank of England announcement), which have caused some uncertainty among buyers and sellers, the market as a whole has remained relatively stable.

There is still a shortage of available properties, particularly in desirable areas, which is driving up prices and creating competition among buyers. This is particularly evident in the market for first-time buyers, where demand continues to be strong, and prices are rising at a faster rate than other segments of the market.

However, there is also a growing trend towards more flexible and innovative property solutions, with a growing number of buyers and sellers opting for online estate agents and other digital services to simplify the process of buying and selling property.

Last year online estate agents had nearly 10% market share of the property market. This is set to increase even further, as online estate agents offer a convenient and more cost effective solution than traditional high street agents.

It is important to choose a specialist online estate agent when selling your property. Leading online estate agents have the experience and resources to help you market your property online quickly and effectively. They will provide the tools necessary to help you get the most out of your online sale.

The pros of using online estate agent are:

- Greater online visibility and access to potential buyers;

- Access to online tools and resources that help promote your property online;

- Lower fees associated with online services, which can often be more cost-effective than traditional agents.

The cons of using online estate agent are:

- Limited access to local market knowledge;

- Reduced marketing ability, as online agents, may not have the same resources as traditional high street agents;

- Some online estate agents may not be able to offer viewings or negotiate offers with buyers.

Online Estate Agents offer more flexibility as you can arrange everything from the comfort of your own home. If you are worried that the business it's not real if it doesn't have a big office - what we are used to seeing when we are thinking about estate agencies - don't be. The lack of flashy facilities helps to keep the costs low, and this way online agents can be so competitive and offer more services. Whether it's an online agent or a high street agent it is crucial to check if they belong to a redress scheme such as The Property Ombudsman or Property Redress Scheme.

Online estate agents provide the same basic services such as marketing a property online, organizing viewings, and negotiating offers with buyers.