House selling
Huge commission fees from pushy estate agents could be a thing of the past thanks to a host of new online services.
99Home is the latest virtual estate agency to launch in Britain and it believes it is the cheapest.
The £99 fee gets your home listed on the agency’s own website, as well as the Zoopla, PrimeLocation and Rightmove portals – where 95% of buyers first look for a new home.
The site joins a string of other firms such as HouseSimple, eMoov and Sarah Beeny’s Tepilo in offering internet marketing of homes. Most of them charge £500 to £1,000.
Purplebricks, the largest “newstyle” agency, employs some 650 property experts around the country to offer help to online sellers.
YOPA also has a network of local agents who will value and market your home and negotiate to get you the best price for a flat fee of £839.
The average UK home now costs about £221,000, according to the Halifax building society. Sold through an online agent, the maximum fee is £1,000 compared to a traditional estate agent charging 1% or 1.25% commission (some more) – making it from £2,210, plus VAT.
For larger homes, the online agency fee stays the same.
But beware, as many of the online agent fees are usually up-front and non-returnable if there is not a sale.