Should I use an online real estate agency??

Should I use an online real estate agency??

Using an online real estate agent to sell your home can save you thousands of dollars or tens and hundreds of thousands of dollars.. But can they be trusted?? We're looking at that, how they work, how much they take, as well as the pros and cons of online real estate agents compared to agents on the streets, to help you make a decision. so, using this guide you will know, what to look out for.

Also see the instructions on how to open a real estate agency step by step which discusses in detail the pros and cons of opening your own agency for business in this case. You'll find out right away, is it worth getting involved in this business. We still have many different instructions for starting a business in the section of business ideas and guides, as well as accounting and other documentation.

What is an online real estate agent and why to use it?

Online- and hybrid real estate agents serve a little less 12-20% sales of houses and apartments in Russia. Online real estate agents typically charge a lower fixed upfront fee., than traditional real estate agents, and provide everything necessary for that, so that your house or apartment appears on the market – photos of rooms, floor plans and lists on bulletin boards and in the databases of real estate agencies. Most online agents organize views and give you feedback on views and offers through the online dashboard of sites.. Many support sales negotiations and comprehensive promotion. There is usually an additional charge, if you want, so that the online agent also conducts views of the apartment or house.

When they first appeared, services, offered by online real estate agents, were non-interventionist, leaving you, seller, write marketing information, negotiate with buyers and conduct reviews. But in recent years, online real estate agents have expanded their packages to offer more "hybrid" real estate agency services., and some now offer packages without commission sale.

Home sellers benefit from lower costs of online work, and access to "local real estate experts", which help with the assessment, negotiation, sales promotion and (for an additional fee) Views.

Advantages online compared to local real estate agents

The main advantage of using online real estate agents, such as, compared to traditional agents is savings, which you can do. It's not unusual to, to pay extra, if you want, for an online real estate agent to do such things, as views or negotiations with potential buyers.

for comparison, according to the study, held in July 2018 of the year, real estate agencies charge on average 1,42-3%, incl. VAT. In this way, if you are selling your home for 6 000 000 rubles, you will have to pay a commission agent approximately 85 000 rubles.

What is a "hybrid agent"?

«Hybrid Agents» are online agents, which also offer services, traditionally provided only by large agents. This makes their packages more expensive., than other online agents.

Before you turn to a hybrid agent, who offers you a local real estate expert, who conducts the evaluation, negotiation and sales promotion, you should ask:

  1. Are your local experts qualified real estate agents?, who work in your area?
  2. How large a territory they cover? (you need confidence in, that the local expert does not cover such a large area, that it will be difficult for him to attend your viewings)
  3. Are there any additional costs?, when a local expert conducts screenings?

Pros of Online Real Estate Agents

The main advantages of using an online real estate agent over a classic agent:

  1. Economy – you can save tens of thousands of rubles on commission fees, using online, not a real estate agent on the street.
  2. Transparency. Online agents openly display their fees on their websites including VAT. They also do the whole process., from writing marketing advertising to the next steps, open to the client, usually through a special online panel of the website or mobile application.
  3. Sense of control – you can manage everything online, when it is convenient for you.
  4. Flexible packages and prices – you can find the right package, which corresponds to the level of support and price you need, that you can afford.

Cons of Online Real Estate Agents

The Main Disadvantages of Using an Online Real Estate Agent Compared to an Outdoor Agent:

  1. Payment in advance. In most cases, you pay online real estate agents upfront., not at the end of the sale. If your property is not for sale, you want to switch from an online real estate agent, then you will lose your money. Some offer packages, which allow you to pay upon completion, but they are usually more expensive. Others offer deferred payment, but you will have to pay it usually through 10 or 12 months, regardless of, whether you have sold or not. Transactions with payment later often include the signing of a loan agreement with a third-party organization..
  2. Evaluation of your home Even online agents with "local real estate experts" often don't know your neighborhood and your way well enough, to accurately evaluate it. They, probably, will appreciate your house and apartment, using online data, but are unlikely to have experience with local facilities, which is possessed by a large street agent.
  3. Internal services. Make sure, that the advertised fee does not depend on the, whether you use the internal services of the agent, such as a recommended mortgage broker or carrier. This should not be allowed to happen., but it happens. Important, so that you can find the best deal.
  4. Time commitment. Self-management of everything may take longer, than if you had a very good real estate agent, who would do everything for you.
  5. Conducting views. If you decide not to pay extra for views, which will be held for you, you should be comfortable showing people, what does the area around your house look like?.
  6. Unusual properties. If your home will not be easy to sell, you may encounter difficulties without the experience of a local street agent.
  7. Sales promotion and negotiations. In reality, though, you're still going to have to make progress., whatever agent you use, a good agent from the big streets will be interested in, to promote a sale, talking to both groups of lawyers, to bring you to completion. Depending on your negotiation skills, a large agent can achieve a higher sale price, than you or your online real estate agent.

Can I Trust Online Real Estate Agents?

Regardless of, whether they work outdoors or online, Real Estate Agents Don't Have a Better Reputation as a Profession. Many people state, that they don't trust real estate agents.

First of all, you have to make sure, that your real estate agent – online or on the street – is a member of one of the two grievance bodies, who can file a complaint, if something goes wrong: Property Ombudsman and Compensation Schemes. This gives an element of confidence..

Take a look, what the reviews say about them. Make sure, that you have read good and bad reviews, to understand, how people's experiences are changing.

How an Online Real Estate Agent Will Rate My Home?

Online agents work from nationwide call centers and are unlikely to always know local conditions and nuances.. It means, that the valuation of your home is often done using online data. It's good as a reference point., but you really need people with knowledge of the local conditions, which will help you set the right asking price.

This may also be the case in the case of "hybrid agents", who use local real estate "experts", because the scale of geographical areas, which are covered by each local expert, usually means, that they don't know the specifics of your local market and homes, similar to yours, in your market.

This disadvantage is easy to overcome., by asking three local agents to rate your home, before you decide, is it worth going online to online agents, and there will be something to compare with.

How People Will Find My Property?

Like Real Estate Agents, online agents use bulletin boards, specialized sites for the sale and purchase of real estate, to place your ad. In this way, although people won't find your photo in the windows of street agents, going for a walk on Sunday afternoon, serious buyers will regularly check the portals. You'll want to take a look at the marketing packages of different agents.. Online agents also offer "For Sale" boards., but make sure, that they will put up a sign for you.

Do online real estate agents use professional photos??

Photo quality, used by online real estate agents, just as good, as well as street agents. Just take a look at the classic ads, and you will see the quality of the photos, used by online agents, which you are considering. And only with street agents you can choose additional virtual tours and 360-degree photos. Fortunately, problems with high-quality photos no longer arise, after all, even a regular phone makes them perfectly. Another thing – skill as a photographer.

The cost of photography should be included in the package you choose, but you should check it out, because some online real estate agents may charge you extra. We believe, that it is an important element of selling your home, therefore, choose an agent, which includes professional photos in its package.

Will it be necessary to organize viewings??

Most online agents will organize viewings for you and will keep you informed over the phone or through a dedicated online site just for you., but they don't usually visit.

Will it be necessary to conduct screenings??

In most cases, you'll need to conduct screenings., if you are contacting an online real estate agent.

Most online agents have a package of supervised views for an additional fee, to show potential buyers everything around.

Will the online agent negotiate a final deal with my buyers??

Some online agents will accept offers, discuss them with you and negotiate a price for you. Others will leave it to your discretion.. If you don't want to haggle, you should choose an online agent, who will do it for you.

Will the online real estate agent be interested in my sale?, if I pay ahead?

maybe, online real estate agents don't have the same commission incentive, as agents from major streets, to get for you (and for them) maximum possible sale price.

But online agents say, what if they don't do their best?, to help customers sell their homes and provide excellent service, then they will go broke.

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