{"id":6236,"date":"2016-02-16T13:39:57","date_gmt":"2016-02-16T13:39:57","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=6236"},"modified":"2018-10-05T14:22:50","modified_gmt":"2018-10-05T14:22:50","slug":"the-costs-of-using-an-estate-agent-are-changing-the-industry","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/the-costs-of-using-an-estate-agent-are-changing-the-industry\/","title":{"rendered":"The Costs of using an Estate Agent are changing the industry"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p><strong><a href=\"https:\/\/www.thehouseshop.com\/purplebricks\">Online Estate Agents<\/a><\/strong><\/p>\n<p><strong>As many <a class=\"wl-entity-page-link\" title=\"homes\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/home\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/home;http:\/\/rdf.freebase.com\/ns\/m.01l0mw;http:\/\/dbpedia.org\/resource\/Home\" >home<\/a> sellers will be aware, selling a <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/property\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/property;http:\/\/rdf.freebase.com\/ns\/m.05wrt;http:\/\/dbpedia.org\/resource\/Property\" >property<\/a> is not always the easiest of processes and then there&#8217;s the <a class=\"wl-entity-page-link\" title=\"Estate (law)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/estate-law\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/estate_law;http:\/\/rdf.freebase.com\/ns\/m.038t85;http:\/\/dbpedia.org\/resource\/Estate_(law)\" >estate<\/a> agency fees to consider.<\/strong><\/p>\n<p>Home sellers can be charged between 0.9% and 2% of the purchase price &#8211; the average is 1.5% &#8211; by the estate agent though this depends on location.\u00a0However, one online estate agency has conducted a survey of 450 <a href=\"https:\/\/www.thehouseshop.com\/compare-estate-agents\" title=\"estate agents\">estate agents<\/a> around the UK and found a huge variation in fees for a similar service being offered.\u00a0It should come as no surprise that <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/london\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/london;http:\/\/sws.geonames.org\/2643743\/;http:\/\/rdf.freebase.com\/ns\/m.04jpl;http:\/\/yago-knowledge.org\/resource\/London;http:\/\/dbpedia.org\/resource\/London\" >London<\/a> estate agents dominate the list of the most expensive agencies with the top seven locations being found in the capital.\u00a0In London, the most expensive areas to <a href=\"https:\/\/www.thehouseshop.com\/property-for-sale?autocomplete-selection=36197&amp;search=Farringdon+Station%2C+Greater+London&amp;price-min=&amp;price-max=&amp;bedrooms=&amp;radius=1&amp;sort-by=most-recent\" target=\"_blank\" rel=\"noopener\">sell a property are found in Farrington and Euston<\/a> where the average fee being charged by estate agents was 2% of a property&#8217;s sale price.\u00a0For <a class=\"wl-entity-page-link\" title=\"houses\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/house\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/house;http:\/\/rdf.freebase.com\/ns\/m.03jm5;http:\/\/dbpedia.org\/resource\/House\" >house<\/a> sellers in Farrington, for instance, where properties can cost more than \u00a31 million, the seller is facing a hefty estate agency of \u00a321,000.<\/p>\n<h2>Using online estate agents who charge lower fees<\/h2>\n<p>However, house sellers now have <a href=\"https:\/\/www.thehouseshop.com\/compare-estate-agents\" target=\"_blank\" rel=\"noopener\">the opportunity of using online estate agents<\/a> who charge lower fees than their High Street counterparts.\u00a0Most of these online firms are charging a set fee for selling a property rather than working on commission.\u00a0Online estate agencies say they can charge a lower amount because they have fewer overheads since they do not have to run a physical office.\u00a0One of the drawbacks to using online estate agencies is that when a potential buyer wants to view the property, the house seller will have to host the viewing. They will also need to take on more of the estate agent\u2019s work for themselves in order to make most <a class=\"wl-entity-page-link\" title=\"Land use\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/land-use\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/land_use;http:\/\/rdf.freebase.com\/ns\/m.0flb7;http:\/\/dbpedia.org\/resource\/Land_use\" >use<\/a> of the potential fee savings.<\/p>\n<h2>Sellers still prefer to use High Street estate agents<\/h2>\n<p>The survey found that most sellers still prefer to <a class=\"wl-entity-page-link\" title=\"Use (law)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/use-law\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/use_law;http:\/\/rdf.freebase.com\/ns\/m.05r4j5;http:\/\/dbpedia.org\/resource\/Use_(law)\" >use<\/a> High Street <a class=\"wl-entity-page-link\" title=\"Estate (land)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/estate-land\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/estate_land;http:\/\/yago-knowledge.org\/resource\/Estate_(land);http:\/\/rdf.freebase.com\/ns\/m.038t8_;http:\/\/dbpedia.org\/resource\/Estate_(land)\" >estate<\/a> agents who offer a personal service but the growing popularity of <a href=\"https:\/\/www.thehouseshop.com\/purplebricks\">online estate agents<\/a>\u00a0may undermine that.\u00a0In comparison with their High Street counterparts, <a href=\"https:\/\/www.thehouseshop.com\/purplebricks\">online estate agents<\/a>\u00a0are charging around \u00a31,000 on average for a similar package including a \u2018For Sale\u2019 board, <a class=\"wl-entity-page-link\" title=\"floorplan\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/floor-plan\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/floor_plan;http:\/\/rdf.freebase.com\/ns\/m.02sp3v;http:\/\/dbpedia.org\/resource\/Floor_plan\" >floor plan<\/a> and photography.\u00a0One online firm is charging just \u00a3395, including VAT.\u00a0In another recently published survey, industry experts are predicting that 50% of house sales could be conducted via <a href=\"https:\/\/www.thehouseshop.com\/top-10-online-estate-agents\" title=\"online estate agents\">online estate agents<\/a> by 2020.\u00a0The findings from Face For Business also reveal that 34% of people would choose an online estate agent when they come to sell their home.<\/p>\n<h2>The trend towards using online estate agents<\/h2>\n<p>However, the trend towards using online estate agents may not be restricted to those who own properties at the lower end of the <a class=\"wl-entity-page-link\" title=\"Market (economics)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/market-economics\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/market_economics;http:\/\/dbpedia.org\/resource\/Market_(economics)\" >market<\/a> and one homeowner looking to sell made headlines last week illustrates why.\u00a0The home seller concerned is looking for buyers for his <a href=\"https:\/\/www.thehouseshop.com\/property-blog\/new-report-details-how-londons-housing-crisis-can-be-overcome\/6223\/\" target=\"_blank\" rel=\"noopener\">18-bedroom mansion in Belgravia worth \u00a324 million<\/a>.\u00a0By using the services of online estate agent, the seller estimates he will save \u00a3430,000 that he would be paying an <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/estate-agent\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/estate_agent;http:\/\/rdf.freebase.com\/ns\/m.02dzpr;http:\/\/dbpedia.org\/resource\/Estate_agent\" >estate agent<\/a> in fees.\u00a0Indeed, a spokeswoman for HomeOwners\u2019 Alliance told one national newspaper that <a href=\"https:\/\/www.thehouseshop.com\/purplebricks\">online estate agents<\/a>\u00a0are quickly growing in popularity.\u00a0<strong><em>She added: \u201cThis is the fault of estate agents for not being transparent about their charges and doing nothing to instil trust in customers.\u201d<\/em><\/strong>[vc_row][vc_column][vc_separator][vc_column_text]\n<h2>Find Properties for Sale in London and the Surrounding Area:<\/h2>\n[\/vc_column_text][vc_row_inner][vc_column_inner width=&#8221;1\/3&#8243;][vc_column_text]\n<ul>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/barnet\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Barnet<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/bexley\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Bexley<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/brent\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Brent<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/bromley\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Bromley<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/camden\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Camden<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/chelsea\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Chelsea<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/croydon\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Croydon<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/ealing\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Ealing<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/enfield\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Enfield<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/fulham\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Fulham<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/greenwich\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Greenwich<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/hackney\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Hackney<\/strong><\/span><\/a><\/li>\n<\/ul>\n[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243;][vc_column_text]\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/hammersmith\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Hammersmith<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/haringey\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span>\u00a0<span style=\"color: #f58350;\"><strong>Haringey<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/harrow\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Harrow<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/havering\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Havering<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/hillingdon\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Hillingdon<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/hounslow\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Hounslow<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/islington\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Islington<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/kensington\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Kensington<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/kingston\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Kingston<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/lambeth\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Lambeth<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/lewisham\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Lewisham<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/london\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>London<\/strong><\/span><\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243;][vc_column_text]\n<ul>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/merton\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Merton<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/newham\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Newham<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/redbridge\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Redbridge<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/richmond\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Richmond<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/southwark\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Southwark<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/sutton\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Sutton<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/tower-hamlets\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Tower Hamlets<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/waltham-forest\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Waltham Forest<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/wandsworth\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Wandsworth<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/westminster\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Westminster<\/strong><\/span><\/a><\/li>\n<\/ul>\n[\/vc_column_text][\/vc_column]\n","protected":false},"excerpt":{"rendered":"<p>Online Estate Agents As many home sellers will be aware, selling a property is not always the easiest of processes and then there&#8217;s the estate agency fees to consider. Home sellers can be charged between 0.9% and 2% of the<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/the-costs-of-using-an-estate-agent-are-changing-the-industry\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":6238,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[17],"tags":[48,67,66,55,53,107,238,125,92,51,111,30,59,65,274,47,153,68,52],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2016\/02\/675424_bd9564be.jpg","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/the_costs_of_using_an_estate_agent_are_changing_the_industry","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/6236"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=6236"}],"version-history":[{"count":8,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/6236\/revisions"}],"predecessor-version":[{"id":18356,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/6236\/revisions\/18356"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/6238"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=6236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=6236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=6236"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=6236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}