Not so long ago, the future of face-to-face hung perilously in the balance. Much uncertainty prevailed, at the time, as to the longevity of this new virtual norm into which estate agency – among other industries – had had no choice but to ‘pivot’.
For many High Street Estate Agents, the temporary veer away from in-branch operations – while necessary at the time – has only served to reinforce one thing. That is, the enduring virtues of the traditional estate agent model, and the distinct limitations of ‘online only,’ that are only now coming to the fore.
As its main selling point, the online model puts forward lower costs (due to less overheads) and greater flexibility. To cost-conscious sellers, this can seem an attractive option, but to anybody considering this route for selling their home, there are invariably many factors to consider, before signing on the dotted line.
Most notably, these relate to the distinct advantages that an agent with local, High Street premises can offer, over and above the home-selling package of an agent working remotely:
Generally speaking, these advantages include:
Local knowledge
An ‘online only’ agent will certainly be able to provide a valuation, produce photos and floor plans, and list your property on the leading portals, depending on which package you choose. However, not all of these agents will have access to a representative with local area knowledge, let alone potential buyer demographics.
In contrast, traditional Estate Agents such as Braxton, who have commanded High Street authority for 147 years, have in their arsenal, an acquired wealth of local area knowledge that is not just helpful in the selling process… but invaluable.
For determining an accurate market value, and isolating a tailored, bespoke marketing strategy, this regional insight goes a long way to helping avoid the low-response launches to market, that are arguably one of the greatest fears of any home-seller embarking on this process.
Motivation
The traditional estate agent model, with its commission-based structure, means that Negotiators are typically more invested in the smooth-running of each transaction, and the relationships which underpin it. This is in contrast to online only agents, where motivation can be undermined by the lower – and sometimes upfront / non-refundable – fee and the fact that they will be paid, regardless of the outcome of the instruction.
The value of a traditional agent's commitment to overseeing the conveyancing process - and to ensuring timely and consistent communications between buyers and legal representatives - is ironically, only most apparent in its absence.
Such is the case, quite often, when the financial savings of an online 'hands off' home-selling package (where the selller controls more of the logistics of the process) are outweighed by the personal time and pressure burden it entails.
In summary...
It’s for all of the above reasons, that in spite of the increasing popularity of online, more than 90% of sellers still choose high street agents to sell their home.
That said, the digital legacy of the pandemic is not to be disregarded completely…even for advocates of the traditional estate agency model.
For this reason, and in the interests of ‘moving with the times’, Braxton have adopted the happy medium of traditional meets online, as evidenced through their post-pandemic introduction of virtual tours and more innovative social media marketing methods.
It’s a move that has helped them adapt to today's evolving market, whilst remaining true to the never-greater need for the ‘lived experience.’
In other words, ‘live’ home viewings, face-to-face communication, and the assurance that the outcome of such an emotionally-charged experience as selling a home, isn’t outsourced to the infinite uncertainties of cyberspace… and call centres.
For more details on selling your home, or for a current market valuation, please call Braxton 01628 674234