Internet estate agents - any thoughts?

[simon.r]

We need to sell my mother in law’s house.

Traditional estate agents in the area charge about 1.5% of the sale value (which would work out at about £4,000), whereas companies like https://www.purplebricks.co.uk/ charge about a quarter of that.

A quick Google suggests that the services offered aren’t very different. The obvious exception is the traditional agent will have a High Street shop, but I imagine that most house purchasers will look on-line first nowadays?

Has anyone got any experience of this new breed of estate agents? Any drawbacks or positives?

Not sure how relevantant this is, but the house we’re selling could be described as “needing modernisation” and I suspect it will go to either a small developer or to an individual who’s prepared to put a lot of time and effort into doing it up.

 

[bikingdad90]

Are they on Rightmove or Zoopla?
If not, I wouldn't bother as most people who look online will not go beyond these two household names with the exception of maybe a local estate agents. We have one called Ingleby Homes and they only sell homes in Ingleby. They have a good reputation and only sell on the estate so have a good idea of value.

 

[derrick]

We used House Simple, you have to do a bit of work yourself, but well worth the savings,

 

[Spinney]

I think the main difference is that with a traditional agent, if they don't sell the house they don't get a fee. I think people like Purple Bricks take an up-front fee.
Not sure if Purple Bricks will show people around the house for you - depends on whether you need this.

 

[alicat]

How does Purplebricks work in terms of assuring you that you are getting the right price for it, both at the price it is marked at then sold for. Do they value and negotiate for you?

 

[simon.r]

How does Purplebricks work in terms of assuring you that you are getting the right price for it, both at the price it is marked at then sold for. Do they value and negotiate for you?

I believe they value it, not sure about negotiations.

I guess the same question could be asked of all estate agents. I sold my house a few years ago and the valuations from the 3 estate agents I got quotes from varied significantly.

 

[vickster]

My house is on the market with a local agent, 1%+VAT

I went that way for several reasons, mostly as I don't have the time to manage the process (viewings, negotiations etc) and I'm in a hurry as I've found somewhere to buy. That house is importantly with the same agent which I hope will be beneficial with negotiations both selling and buying (hopefully to the tune of covering the fees). I've not been elsewhere. The valuation was £50k more than I expected and we are aiming a little higher to get that amount.

The houses around here on the market with purple bricks all seem to have had the signs up for ages (maybe just rubbish as taking signs down)!

The agent advised me not to go offers over as apparently it can kill a sale stone dead!

He also asked me not to be in for viewings as it's awkward for buyers to feel relaxed looking around

 

[PK99]

We need to sell my mother in law’s house.

Traditional estate agents in the area charge about 1.5% of the sale value (which would work out at about £4,000), whereas companies like https://www.purplebricks.co.uk/ charge about a quarter of that.

A quick Google suggests that the services offered aren’t very different. The obvious exception is the traditional agent will have a High Street shop, but I imagine that most house purchasers will look on-line first nowadays?

Has anyone got any experience of this new breed of estate agents? Any drawbacks or positives?

Not sure how relevantant this is, but the house we’re selling could be described as “needing modernisation” and I suspect it will go to either a small developer or to an individual who’s prepared to put a lot of time and effort into doing it up.

Depends on the nature of the market.

Buying my daughter's flat 3 year ago. It went on market on Thursday. Viewings on Saturday only. Offers closed Monday midday. Best and final offer Tuesday noon. Offer accepted at 4% above asking at noon Wednesday. The agent had earned more than their fee by the increase over asking. Ultra professional service.

Sounds like the house you are selling does not have any headroom and ruducing cost if sale is best option.

30 years ago we sold my mum's house that sounds like yours and were rooked by a local agent who it turned out had a tie in with the developer who bought it. Make sure you get a solid valuation - several in fact!

 

[NickNick]

30 years ago we sold my mum's house that sounds like yours and were rooked by a local agent who it turned out had a tie in with the developer who bought it. Make sure you get a solid valuation - several in fact!

Stuff like this happens way to frequently, my landlord (he's dodgy as hell but leaves us be as long as I do all the repairs, hasn't put rent up in 7 years and let us bring our dogs & cats so beggars can't be choosers) who must have 30+properties told me out right he has such a deal with a number of estate agents who he gives back handers to in order for them to find properties for him and then drive price below market value by messing around the sellers. It's horrible stuff and I'm 99% certain my mum just got robbed in similar way when selling her Birmingham house, the estate agents were way too close to the buyer and she got way less than should have, but was in a rush and is too nice.

 

[User33236]

The property I am buying at the moment in being sold via Purple Bricks.

As the house is vacant they seem to be handling everything for the seller who now lives a reasonable distance away. They don’t seem to have enough local staff thought and a request for a visit to measure up for some things (new curtains etc) ahead of completion in a couple of weeks seem to be proving difficult for them to fulfill. As a buyer I don’t find them very good.

When the sold down south recently the local bricks and mortar estate agent we used had changed their pricing model to be fixed fee. Whilst a bit more expensive than PB the fee was paid only on completion if they were successful in selling.

 

[screenman]

Cost me £20 to sell my last house, I had a sign made with the price and my phone number on and put the sign up outside. 45 minutes later I had a call from somebody asking if they could come and buy it, and they did. I left the sign up for a few more days and had 6 further enquiries, I should also add that the price I got was £25,000 more than the valuations by estate agents.

 

[Deleted member 26715]

I think the main difference is that with a traditional agent, if they don't sell the house they don't get a fee. I think people like Purple Bricks take an up-front fee.
Not sure if Purple Bricks will show people around the house for you - depends on whether you need this.

How does Purplebricks work in terms of assuring you that you are getting the right price for it, both at the price it is marked at then sold for. Do they value and negotiate for you?

We tried to sell our house last year with Purple Bricks, my advice would be to avoid at all costs, they for us were totally & utterly useless. The young lady came in saying what they would & wouldn't do for us, they were going to be unbelievable & they were, but not in a good way. They took our £800 & promised a sign in the garden within 2 working days, 2 weeks later it still hadn't arrived, only threatening to recover the money via the credit card company made them do anything. Over the 8 months it was on the market they NEVER approached us once, we had to do all the chasing, in the end we took the house off the market as we lost the one we wanted. I ended up emailing all the directors to express my disgust in their service & after a lot of arguments managed to get £400 back off them.

Their claim is to be a whole new way of selling houses, they are not, they are just a very bad traditional estate agent who happen to be on the internet, there is also a lot of complaints about their tied conveyancing service.

From what I can see most people seem to use Rightmove, IF I were to try to sell again I would do as @screenman suggests have a professional sign made up, but I would also list it on Rightmove.

 

[vickster]

My house was up on Zoopla and Prime Location in under 2 hours of the agent doing the valuation and photos. Can't do much better than that!
EPC and floor plan this week as the chap was on holiday last week

 

[User33236]

.....there is also a lot of complaints about their tied conveyancing service.

Having used a tied conveyancing service myself a number of years ago I’d avoid using one again.

Purple Bricks offered us theirs but we declined in favour of one recommend by a friend who is a senior figure in the law society of Scotland. Having since read reviews of PB conveyancing service on the internet it seems they still suffer from the same issues as the one we used in the past.

 

[Dave7]

I guess the same question could be asked of all estate agents. I sold my house a few years ago and the valuations from the 3 estate agents I got quotes from varied significantly.

We "thought" about selling a few years ago and got 3 valuations.
First agent gave loads of negatives and suggested (what we thought) was a ridiculously low figure.
Third agent suggested £50K more and said "it will sell quickly at that price".
You would expect that, as "experts" they would at least be in the same ball park.