People start their searches online so why aren’t estate agents online? Says Sarah Beeny— I say the agents are all online as they all have a website and simply back this up with an office.
The issue is the cost versus the service and what the agent does or does not do for their money
UK High Street Estate Agency is in turmoil, I came into the Dragons’ Den yet no Dragon agreed and several years later the writing is on the wall
This behemoth is Keller Williams a company with a very clever business model, it is not on the high street, it is online and even better the company is not just online have local property guides to conduct face to face meetings. I don’t need a Dragon as KW do all the investment in business tools for me.
To be competitive each person who meets a client is an agent who can tailor the price to be as low or high as the service the seller requires.
Sometimes a Keller Williams agent will charge ZERO, those online guys just cannot compete, how does it end up being ZERO charge to a seller you might ask and the answer comes from the growth in buyers taking on an agent to procure properties for a fee.
A buyers agent might be working for an investor or a corporate employee buyer relocating to a new area as part of a career mover.
Alternatively the seller might be property savvy, seeking just the bare minimum of help and then a KW agent can be of service with best price policies.
What we do know is the high street agent is worrying.
TV presenter and founder of online estate agent Tepilo Sarah Beeny says that high street estate agents’ offices are empty and “totally redundant” in the Daily Telegraph recently
Online estate agents are not new, what is new is an online estate agent offering a face to face visit and with flexi pricing from Keller Williams it is not surprising they are the largest property sales company on the planet