Is the internet the new buyers’ shop window?
Sarah Beeny says it is – and it’s hard to disagree, although you might take issue with her assertion that online agents save vendors 86%.
She also tells sellers: “You know your own house better than most, so realistically you should be the best person to sell it.”
Many agents don’t agree with that one either, but in a new ‘infogram’, Beeny sets out the arguments for both online and high street agents in a pretty reasoned way – which includes quotes from both Your Move’s David Newnes and Peter Bolton King of the RICS.
Comments (8)
The virtual shop window is / has taken prominence over the High Street window regarding greater access to potential vendors and buyers but in the main, that is ALL it has done. To sell properties for the best price possible, it still requires full service qualified agents to convert the initial lead generation enquiries (from the internet/shop front window/paper advertisement/flyers/prospecting and marketing in general) into lead conversion, matching of applicants with suitable properties, making appointments, making deals, progressing the sale and completion of sale. The successful agents understand and employ full service agency as a matter of routine. Viewing the internet just as another 'shop window' is a good way of keeping this in perspective, and differentiating higher fees for full service agency rather than upfront fees for internet advertising.
"Is the internet the new buyers’ shop window?" . . . no is it chuff.
It has been the shop window for a few years now. New it a'int.
I'm pleased to say the one I looked at for Ms Beeny's new show was overcooked by the owner/online agent, had a 10% reduction, still nada and has since been withdrawn from the market 3 months later. So we established they made £500, the seller is still in situ although a little poorer and perhaps doesn't know his house as well as all that!
The same Sarah Beeny that has just produced an "un biased " prime time tv show saying whether online is better than high street!!!!
I haven't laughed so much for a long time. This is what happens when someone with a bit of publicity thinks they know everything. Utter nonsense.
Traditional agency fees being higher means traditional agents can market beyond the web as to achieve more offers. Which equals a better price and more solid buyers.
Simply charging a lower fee for doing less doesnt save clients money. In fact a few hundred pounds fee can cost sellers more.
Interesting to note that Ms Beeney's website is in breach of the CAP code relating to the advertising of VAT exclusive prices! Rather simple error for someone in the public eye as she is.
Section 3.18 of the CAP code: "Quoted prices must include non-optional taxes, duties, fees and charges that apply to all or most buyers. VAT-exclusive prices may be given only if all or most consumers pay no VAT or can recover VAT."
argh…………..She also tells sellers: “You know your own house better than most, so realistically you should be the best person to sell it.”………..
………….Do THEY (the homeowner) know the BUYER though! BUYERS…BUY and SELLERS simply inform NOT SELL as do most agents to be fair……..BUT a good agent knows their BUYERS very well so even if a property does NOT have what the buyer would like an AGENT could well help sell around this and point out the potential changes required for the house to fit the bill not just waffle about something the property has which they do not care about……….a homeowner on a viewing will fill in the gaps with idle comments and it is often WHAT YOU SAY which can undo a sale rather than create one………the amount of properties I go to where a past agent has let the homeowner do the last 30 odd viewings and the owners are so intense with me on the valuation I just know what they would be like to the viewers………..I happily confront them on this and suggest perhaps it is you (the homeowner) doing something wrong and almost always a vendor will say "I would much rather the agent do them, but they say they are too busy or short staffed" and once we take over and do the viewings BING BANG BOSH the house sells; as we do not do the old desperation sales pitch to someone who simply does not want to hear "the boiler works" they hope so! or the most common one……a vendor saying what the house "USED TO BE LIKE" before they knocked it around………who cares, it is what it is now and that's what a buyer see's, they want to imagine it as THEIR home and this is what a homeowner tends to distort in my opinion as they DO NOT KNOW the buyers as well as a GOOD AGENT………..rant over…..have a good day all.