Increasingly more homeowners are looking to move away from traditional estate agents in favour of selling their properties online due to the flexibility and speed that online selling offers. So much so that in the UK alone, searches for ‘sell house fast’ and ‘instant online valuation’ have seen large increases in the last few years. This all signifies an increased desire on the part of property and homeowners to sell their properties via less traditional routes.
In past times, selling a property via an estate agent was the only universally accepted route through which people would sell a property. However, in recent times, with the increase in online property sellers, the balance has shifted slightly away from estate agents, particularly if a fast house sale or a sale which requires less commissions is required.
There are many reasons people opt to sell a property online over using the traditional and open market, all of which are worth considering.
Take Control of Your Listing
When you decide to sell your property online, you are able to directly control the listing. This means that you can choose exactly what potential buyers see, be it the description, the pictures, or even specific features that you wish to highlight. You also have the flexibility to make any changes as you go.
Depending on the online agent that you choose, there may be different options available that could enhance your listings. You may have the option, for example, to add a floor plan, video or 3D virtual tour, all of which could maximise your selling potential.
Arguably the most important factor that you will be able to control if you decide to sell your property online is the asking price. This is a fine balance, although you may want to aim to sell your property for the highest price possible, you should always make sure to set a price that is reasonable for the offering.
You may even wish to explore the option of applying for payday loans online, to help pay for some refurbishments to increase the value and price of your property, for when you put it on sale.
The best first step is always to research similar properties in the local area as a guideline for your selling price. You could also ask local estate agents for their expert advice in order to gauge it correctly.
Sell Your Property Quicker
One of the key reasons that homeowners choose to sell their home via an online marketplace is the speed that it offers when compared with traditional selling methods. If you work with estate agents, it can be an arduous process with many steps, often there are multiple sessions for photos, surveying and valuation, before the listing is even put live.
After that, there is a lot of back and forth between the seller, the estate agent and potential buyers in order to organise the viewings. Selling online allows you to cut out the middleman so that you can put your listing live as soon as possible.
Save Money on Agents
Working with estate agents can be a costly affair which, depending on who you work with, could cost you a commission of anywhere between 1-2.5% of the property price and this is before any additional fees should you require their services on the legal aspects and others.
If you work with online agents, there is usually a one-time fee with a fixed price so you know what you are getting. Depending on which website you choose, this could result in you saving thousands of pounds. If there are additional costs along the way, these can be absorbed by the buyer meaning that you are free from any upfront costs.
Make Your Viewings Work Around Your Schedule
There is no doubt that selling your home is a time-consuming process, especially when it comes to viewings. Some people find that the flexibility afforded by selling a property online can help them arrange viewings and more around their schedule. For example, in cases where people have commitments with regards to caring for a loved one or childcare responsibilities (source: GlobMed), this flexibility can be a key requirement.
You will ideally want many potential buyers to be interested in your home so that there is a high demand and buyers will be willing to pay the asking price, if not more. However, this can be difficult to organise, especially if there is a third party involved.
When you work with an estate agent, there is an extra layer of complexity in the scheduling, the potential buyer contacts the estate agent who contacts you, who contacts them and so on, and so on.
When you take control of your listing, you can make the viewings work around your schedule and can speak to potential buyers directly in order to organise times. As a consequence, it is a much more efficient process.
This article was written in cooperation with DSR Digital