News Reaction: Why Use An Online Estate Agent? Why Not?

News Reaction: Why Use An Online Estate Agent? Why Not?

In the modern market consumers now have the choice of two different types of estate agency to help sell their property – traditional estate agents with a high-street presence or online agents like Tepilo.

Online estate agents came under fire last week from David Brooke-Smith of Stacks Property Search, the UK’s oldest independent buying agency.

While Brooke-Smith understood why property sellers might want to turn to an online agent – namely the higher fees and marketing costs commanded by traditional agents – he warned of many potential stumbling blocks if this route was chosen.

He said valuing was the first big hurdle to overcome, with vendors not impartial enough to see the weaknesses in their own property. This means they would subsequently overvalue and deter enquiries from potential buyers.

Unsurprisingly, we don’t agree. The argument that owners only view their properties through rose-tinted spectacles, refusing to see any flaws or problems, is a tad naïve. We’d argue that owners do know their properties well, better than anyone in fact, and they are in the best position to understand its main strengths and weaknesses.

Fair enough, vendors may not have expert knowledge of the local market/national trends and may not be able to value their property accordingly, but this is where Tepilo’s property experts are on hand to offer advice 24/7. Additionally, our instant online valuation tool acts as a guide to vendors to ensure they are not hugely overvaluing or undervaluing their homes when they bring it to market.

Another criticism made by Brooke-Smith focused on viewings, and the fact that vendors who use an online estate agency will have to conduct viewings themselves. He believes they will find it difficult to be flexible with the demands of viewing times from buyers and will struggle with emotion and sentiment being taken out of the equation as a more dispassionate approach is required.

Firstly, when looking to sell their home, it’s likely that vendors will do all they can to be accommodating to would-be buyers – as long as the demands aren’t too ridiculous or over the top. They wouldn’t have put their house up for sale if they couldn’t then commit time to getting it sold.

Secondly, there are many advantages to sellers conducting their own viewings. As long as you do it properly, the personal touch and intimate knowledge a seller can convey can often be a deal-breaker. Far from being dispassionate and non-emotional, vendors can really extol the virtues of their home. There is, of course, a fine line between passion and over-enthusiasm, but the idea that a viewing has to be bland and stale doesn’t really hold up to scrutiny. Vendor viewings really are advantageous because at the end of the day, who better to sell your home than you!

Rather than being put off by being shown around the house by the seller, would-be buyers might appreciate a more personal experience than one carried out by an estate agent with no emotional investment in the house. At Tepilo we help to arrange the viewings for vendors – at a time that suits both parties – taking away the stress and hassle of this often awkward task. By assuming responsibility for organisation of viewings, we allow sellers to get on with their sales pitch, something they very often embrace fully.

While the team at Stacks are entitled to their opinion, here at Tepilo we provide a comparable service to traditional estate agents for a fraction of the price. We fully manage your sale from the moment it is uploaded to our website to the moment of completion, assigning you a fully trained sales manager to guide you through the process every step of the way. Our main goal is always to get you the best possible price for your home.

We also have a database of buyers waiting for properties in your area and we give your property a significant online presence – with so many people now searching their property online, visibility on all the major portals is of absolutely vital importance.

If you want to find out more about what we can offer you, please get in contact on: 0844 3878377 or 01702 870878. To work out how much you could be saving by using an online agent, check out our fees page.