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Online Estate Agents: Are they Credible?

When thinking of selling your property, you are predisposed to multiple options through which you can sell your property. Among these are online estate agents.

Selling your property through an online estate agent can save you thousands of pounds. However, the question is can they be trusted to handle such an important financial transaction?

One of the biggest advantages of using online estate agents is the fact that you can be sure to save a great deal compared to the high street agents.

In fact, you can confidently that online estate agents do not charge extortionate fees as the basic packages usually begin at around £400 that is far much less than what high street agents that would charge an upwards of £1,000.

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Should you trust online estate agents?

There being no law stopping you from establishing an estate agency either online or in the high street, it is difficult to tell the degree to which the online estate agents are legitimate.

Online estate agents must belong to either of the three grievance bodies that can pursue any claims arising from transactions that go wrong. These include the Ombudsman Services, the Property Ombudsman and the Property Redress Scheme.

Even then, you need to understand that the powers of these grievance bodies are limited hence, it should not be taken as a stamp of approval.

Online estate agents perform the same role as their high street counterparts. However, the difference is in the fact that these agents do not have a physical address rather, you can engage them online. Thus, a good online estate agent should be able to help you dispose or buy property just as a high street estate agent would do. Even then, you must apply extra caution when dealing with online estate agents to ensure that your interests are protected.

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