Sellers seek alternatives to estate agents
Home sellers do not believe estate agents deliver value for money and don’t think they do a good enough job, according to new research from Enness Capital.
Whilst 87% used an estate agent to sell their last home, only 37% thought their agent did a good job. Indeed, 83% of people did not think that their estate agent delivered value for money.
Ian Humphreys, Partner at Enness Capital says "Estate agents have traditionally been seen as a necessary, if rather expensive, evil. They take over the tricky parts of the sale that a seller might not be confident to tackle, such as negotiating on price and liaising with the buyer. But with estate agents charging commissions of up to 3%, some people are turning to more direct methods to buy and sell property."
88% do not trust estate agents to do the best for them but those choosing to go it alone to sell their house still prefer traditional methods. 20% just put up a sign outside their house to advertise the sale and 25% relied on word of mouth. Only 13% used the internet to go direct to potential buyers.