Try and think of another service industry profession which charges a percentage of the transaction they are involved in.
Mortgage Brokers. Sort of. But their commission derives from the fee a mortgage company pays out.
Online estate agents have of course come to the same conclusion as us at Proper Local, but their model is really to provide a marketing service, its not full-on estate agency is it?
So if you’re happy to rely on Rightmove and Zoopla providing your enquiries, fancy doing your own viewings and tying your own deal up, go ahead and use an online estate agent.
What I think is this though.
I think consumers really do understand, and appreciate even, the added value an experienced, local estate agent can bring. A local estate agent knows their area. They know what comparable properties have sold or let for off the top of their heads. They have a database of applicants and investors. They are, or at least they should be, part of the community.
And I think that this kind of service and experience is worth more, because I do believe it will actually save you money in the long run.
Yet you the consumer has an appetite for saving money immediately (that’s not exactly the craziest notion in the world is it though), and consulting firm Hardman & Co have recently said that they believe Purplebricks, just one singular online estate agent, will take a 10% market share in the UK.
So, how about having your cake and eating it? Save money and get great service and market knowledge.
As I see it, that’s proper.
Indeed, it’s Proper Local.
To be continued…