Although online estate agents are becoming more popular by the day, there isn’t a straightforward answer as to whether or not you should sell your property through them. This is because different people are faced with different circumstances that influence how they sell their property.
For instance, if you believe you are well knowledgeable about the local property market and are comfortable showing prospective buyers around your house, they you can use on online agent as this will definitely present good value. On the other hand, if you are hard pressed on time or you prefer having tailored advice and support, then you could just use a high street agent. We asked industry experts ReadySteadySell.co.uk for some insight into selling your property quickly online.
Generally, you need to understand the key differences in the roles and restrictions of online estate agents and high street estate agents. To begin with, online estate agents are restricted from listing your property on the major online property portal namely OnTheMarket.com that is run by a consortium of high street estate agencies. This might as well mean you will not be able to reach a wider audience translating into a lengthy wait before you can eventually sell. Even then, you can still get your property listed on Zoopla and Rightmove both of which have a good reach.
Secondly, you need to know that while high street estate agents can list property on OnTheMarket.com, they can only list the same property on one other portal. Thus, you need to weigh in on this before making a decision. Generally, using an online estate agent may be more beneficial as they can list your property on both Rightmove and Zoopla.
Online Estate Agents: Your Rights
When selling property through online estate agents, you do not need to worry about having your rights violated as these agents are also governed by the same regulations governing high street estate agents.
In fact, they must profess membership to one of the three redress schemes that are government approved namely: The Property Ombudsman, Property Redress Scheme and Ombudsman Services. Therefore, you need to find out from your agent which body they are registered with so that you can call in case of a problem.
Trading Standards also investigate agents that have breached the 1979 Estate Agent Act that outlines the minimum standards of conduct for estate agents. Therefore, you can be sure that your rights will be safeguarded when working with online estate agents just as they would when you engage a high street estate agent.