If you’re considering listing your house on the market with a low-cost, upfront fee online estate agent, you may want to think again.
As an independent agency operating in South East London, we know there are a number of advantages to using a traditional high street firm over an online or upfront fee one.
Now, though, this has been backed up further by research from The Advisory – which offers free, independent and expert advice to house sellers.
Its findings revealed that high street estate agents achieve an average price of 5% more than online-only agents in around 75% of sales. They also achieve more viewings and offers than their online counterparts.
Why is this?
Online agents are heavily reliant on portals such as Rightmove and Zoopla to find buyers. While portals are an excellent way of generating interest in properties, they are less good at actually getting results.
The research found that, while Rightmove generates approximately 52% of viewings, it produces only 36% of offers and 27% of the best buyers.
By contrast, high street agents generate 48% of viewings, 64% of offers and – in nearly three-quarters of cases – a 5% higher sale price.
That would translate to a loss of £12,500 on a sale of a £250,000 home, according to The Advisory, if an online-only agency was used rather than a traditional one.
Of course, any good traditional agent will also advertise heavily on the major portals, which means sellers won’t lose out in this sense by opting for a high street firm.
Local knowledge and experience
As the research above states, opting to use an online-only agent could lead to fewer viewings and lower than expected offers. By using a local estate agent with branches in areas of high footfall you can increase your chances of getting viewings, attracting serious buyers and receiving offers that properly reflect the true value of your property.
Here at Living in London, we operate two branches - one is inside Canada Water Tube station and one is located at Marine Wharf, a lively new dockside development in Surrey Quays. This not only means we can build good relationships with local buyers, it also means we are fully aware of local trends which could help to get your home sold more quickly.
As we pointed out in previous blog, there are a number of things buyers of property in South East London will be looking out for, and the areas we cover offer these in abundance. Good transport links, a lively social scene, garden space, parking and fast broadband speeds are all likely to feature as must-haves, with good local schools, amenities and green space also likely to be key considerations.
You should employ a multi-pronged marketing strategy – including traditional and online methods – to improve your chances of getting your home sold. It’s also important to remember that every home is different, which is why we offer a tailored approach to our sellers to ensure you get the most from your sale.
Picking the right agent is a crucial part of what is likely to be one of your biggest financial transactions. You need someone you can trust, someone who will go above and beyond to ensure the sale goes through without any hiccups. Partnering with a highly trained team, which offers the best possible customer service, is therefore crucial.
Setting the right asking price
To improve your chances of selling quickly, you need to make sure that your initial asking price is set at the right level. For this to be possible, it’s crucial that you work closely with an experienced estate agent with excellent local knowledge to ensure your home isn’t priced incorrectly. Too high and you risk deterring buyers; too low and you run the risk of selling yourself short.
For more information about getting your home sold in South East London, you can contact Living in London on 020 7231 0002.
You'll also probably be eager to know how much your home could be worth in the current market, which is where our expert valuations can help.
Living in London has been busy painting the town pink in the lead up to its 15th Anniversary, and it’s finally here! Happy Birthday to us; proud to be celebrating 15 years in SE16!
2016 was a very busy year for us; we opened a new branch at Marine Wharf and won several awards, including ‘Best Estate Agent in SE16’ for the second year running in the allAgents Customer Experience Awards and ‘Best Independent Letting Agent in London’ in the Real Estate & Property Awards.
Part of a company-wide growth plan, expanding to Marine Wharf allowed us to take on more staff and currently acts as a customer service ‘hub’ for our clients, housing our property management, accounting and marketing teams.
“2016 was a year of growth and streamlining for Living in London,” says Ben Miller, Director at Living in London. “Our clients have come to expect a certain level of service which we plan to continue delivering in our 15th year, as well as improving internal processes and boosting our marketing efforts.”
Taking on a new Marketing Manager and strategy, we’ve successfully boosted our online presence through social media and email marketing; delivering useful content to clients, including property insights, tips and area news, and running regular giveaways and competitions.
With an aim to become more involved in the community for our 15th Anniversary, we recently raised money for Save the Children UK and ran a Christmas giveaway, providing exclusive local offers to our clients. Continuing to work closely with local businesses, we hope to deliver a loyalty card for our clients this year, to give them access to exclusive deals and offers in the area all year round.
“We’ve developed strong relationships in SE16 over the last 15 years and now it’s time to give something back to our clients,” says Adam Miller, Director at Living in London. “We’re excited to be continuing and improving on the work we started last year. We want to go a step further and be able to offer our clients regular local offers and simultaneously support businesses in SE16.”
Living in London is also offering customers a fantastic reward for recommendations. If you’ve dealt with Living in London and experienced fantastic service, recommend us to your landlord, friends, family, neighbour, doctor, dentist... anyone! The more the merrier.
For each and every one, we'll give you £500 vouchers of your choice if they sell their property through us, or if they let with us, we'll send you £250 in vouchers!
Simply click here and fill in the form: http://living-london.net/recommendus
Look out for updates on the Living in London loyalty card and join our mailing list to be the first to receive tips, offers and giveaways.