Online agency easyProperty has launched its residential sales service today, ahead of schedule, with a sales section already on the easyproperty.com website.
This offers vendors three packages costing from £475 to £1,500 including VAT.
The cheapest service is described like this: “We line up potential buyers and you show them round yourself. Once we’ve collected the offers and negotiated the best price, it’s back over to you to handle the Sales Progression. Best suited to those who want to get hands-on!”
The second service, costing £825, still has vendors hosting viewings although easyProperty says in this case it also handles “sales progression”.
The final and mosty expensive option includes an interactive floor plan, premium Rightmove and Zoopla listings, and what the firm calls “one-on-one viewings.”
This week, during what the company calls a “soft launch,” the first 200 customers are being offered free listings.
easyProperty has told Estate Agent Today that the site will launch formally next month after this trial period.
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Surely the point is that they do almost everything a traditional agent does for those cheap fees? That's the appeal, that they do most of the same things - aside from viewings and a few other things - for a fraction of the price.
I happen to think that's not the case with easyProperty - no-one seems to know for sure exactly what they offer and their lettings business hasn't exactly been an overwhelming success, very far from it - but the best of the online agents will make a claim that they offer much the same service for much less money.
People are always after a bargain, why should estate agency be different? I appreciate that agents do a lot of hard, unseen work to make the sales process as easy as possible, but there is also the impression that the fees they charge are too high. In the future, I think traditional agents will have to cut their fees to compete with all the new kids on the block. Cutting of fees doesn't necessarily mean a cut in quality, though - just because an agent charges higher fees, it doesn't follow that they do a better job than an agency that charges low fees.
As a conveyancing solicitor, the range in quality between estate agents is huge. Choosing low price in my experience, is a huge huge mistake. Motivate your estate agent to secure the very best price for you, or you can save a tiny bit on the commission, but massively on the final price.
Those who vet the buyer in detail, who have an inviting and warm personality when conducting viewings (never do your own) will attract buyers, and those agents who then stay involved in the legal process to help the lawyers, will keep the deal together, and ensure a fast deal.
If they are not local, then they have no finger on the pulse of the community, or any connections to find that special buyer willing to pay top dollar.
Estate agency is far more than Rightmove advert, and agents do not do the same. far from it.
Ask the local conveyancers who the good estate agents, and you will be surprised who they don't rate.
Like conveyancers, you get what you pay for on the cheap end.
Well...they've got to do something..! According to my research their first year has been a tragedy! Having collated numbers on a daily basis, cross checked against new instructions, given then an 'optimistic' 75% conversion rate and valued their sales at £300 per let (just to be totally wild), they have still not even managed to cover their own wages bill, let alone make a dent in the target they set themselves. I'm guessing the multi million £ deal with Spurs is off... I'm guessing a pre IPO and IPO is off ...and I'm just waiting for the internal fireworks to start. Why oh why Guy Zitter still has his name attached to this debacle amazes me..
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