Internet could 'kill off' estate agents
Estate Agents - 13/11/2006 15:01:48
Estate agents around the country are being shunned in favour of consumers selling their own homes.
According to a poll by the London Evening Standard, homeowners who have opted to sell their homes themselves have pocketed up to £82,000 extra by not paying fees and additional costs.
Experts claim that there has been a massive boom in the number of homeowners using the internet to sell their house and that estate agents have seen a marked decline in business over recent months and years.
So much so that the National Association of Estate Agents has admitted that the internet could pose a huge threat to some of its members.
Conveyancer Karen Babington has kept track on the number of homeowners opting to sell their own homes and said: "The transparency and efficiency of internet communications means sellers are questioning why estate agents are charging ten times as much as conveyancing solicitors.
"Selling privately makes the cost of home moving much more affordable."
According to recent figures, the cost of selling a house on the internet ranges from nothing to £300 while estate agents will often charge a 1.5 per cent commission fee for their services.
While selling your own home could earn you some extra cash, professional estate agents can ensure that your property is sold within the letter of the law and is pitched to the right marker. Click here to find estate agents in your area.