Why should you sell with a high street estate agent in 2018?
5th October 2018
The popularity of online agents, notably Purple Bricks, has increased over the past number of years. With Purple Bricks being the leading online agent I wanted to focus on their services, what they offer, what they charge and why they are different to us. Despite them trying to convince people that we are all the same and that they are capable of doing everything that we do, I don’t buy it. After reading this blog I’m sure you’ll agree that you should be selling with a high street estate agent in 2018.
- “Local” Property Experts
Purple Bricks employ Local Property Experts (LPE’s) to accurately value properties and provide advice on the current property market in a particular area. The LPE for Cross Hills is, according to their website, the “local” expert for all properties between Queensbury and Settle, covering an area measuring over 200 square miles! Can they really profess to be local? Can they really value a property accurately and provide advice on current market trends when they have to cover such a vast area?
- Face to face
If someone is putting their trust in someone to sell the most expensive thing they own, wouldn’t they like to see who that person is and be able to call in to the office and have a chat with them or would they be happy knowing that the sale of their home is being dealt with by someone in a call centre in Birmingham?
Purple Bricks rely on their viewers taking the time after a viewing to upload their thoughts on the property so that the owners can log on to their app/website to view the feedback. Are they really getting the most out of the viewing feedback? Getting feedback on a viewing is very important when looking at the ongoing marketing of a property. What if there was something quite trivial that the agent could put right? What if the viewer would be interested but not at a particular price but, unbeknown to them, the owners would be willing to come down and a deal could be possible? We know the circumstances of each sale and how flexible someone may be and can use the information we have to get the most out of each conversation we have.
- Fees and Transparency
At first glance Purple Bricks claim to be able to sell your property for £849, although if you want them to do the viewings for you then there’s another £300 to pay for that.
There are two ways you can pay the £1,149 fee. You can either pay upfront or defer the payment for 10 months, at which point it will be payable whether the property has sold or not. Oh, by the way, in order to defer the payment you need to agree to use their conveyancers, which will be located in another call centre somewhere. From my experience they will be a lot dearer than a local reputable conveyancer who will know a lot more about properties in the area too. It gets worse though.
If you do not want to use their conveyancer and still want to defer the payment you need pay a £360 “Administration Charge”. I’ve looked through their terms and I still don’t know what this charge is for! You are basically being charged for them not to do something!
Here’s their fees simplified.
|Accompanied viewings?||Upfront payment|
|Accompanied viewings?||Agree to use their conveyancers?||Deferred payment|
THESE FEES NEED TO BE PAID WHETHER THEY SELL YOUR PROPERTY OR NOT!
Oh, they also reserve the right to assign liability to a debt collection agency if you defer and don’t pay them after the 10 months!
Would you pay someone £1,149 upfront or agree to pay then £1,509 in 10 months’ time to carry out a job for you before they had even started doing the work? Once they have been paid upfront, or know they’ll be paid in 10 months’ time no matter what, where is their incentive to make sure your property is sold? Where is their desire to make sure you receive excellent customer service? Where is their desire to negotiate on your behalf and get you the best possible price?
According to Rightmove, since the beginning on 2018 Purple Bricks have had 6 properties in the local area that have either been on the market for 10 months and are still for sale or have been withdrawn from the market. At potentially £1,509 a time that would be just over £9,000 in fees for not selling a property!
We may charge more than Purple Bricks but our terms are simple.
No sale, no fee + No upfront payment = No risk
We’re with you every step of the way. We’ll provide you with true local knowledge and market trends and be here to speak to you face to face. We’ll carry out viewings as standard and speak to you to provide feedback and not rely on you logging in to an app to find out how the viewing went. And perhaps most importantly, we’ll use our experience to negotiate to get you the best possible price for your property as we have the incentive to do so. I’ve no doubt that we will be able to negotiate more for your sale then you would have a”saved” with Purple Bricks!
Thanks for reading