The large majority of people who have sold their home through a traditional estate agent were either satisfied or very satisfied with their experience.
Out of 700 people asked, 82% expressed their satisfaction while just 4% of the survey conducted by haart had used an online agent.
Many thought that a traditional high street estate agent can add 5% to the value of their home.
Based on haart’s own average price of £221,797, this adds up to a premium of just over £11,000.
A total of 88% said they believed that face-to-face meetings with their estate agent was important.
But many – 76% – believed that high street agents charge a lot more than they do.
The typical fee is just 0.5% to 2% of the property sale price, however 76% of people believed the fees were higher than this and 11% incorrectly believed estate agents took a cut of more than 10%.
Paul Smith, CEO of hart, said: “Our research shows that consumers believe our local expertise will earn them more money when selling and they true velue being able to meet an expert in the local property market on a face-to-face basis – not just once, but at crucial points throughout the process.
“We welcome anything that injects a healthy dose of competition into the sector but for the vast majority, the reassurance of local expertise, regular contact and inside knowledge of potential local buyers ticks all the boxes.
“Estate agents charge a fee for a skilled service which often includes deployment of expert negotiation skills to keep property chains together – and that fee is much lower than most people believe.
“It’s also not a flat rate with a seller only paying if their home is in fact sold.
“This means high street aftents will work really hard and are motivated to achieve the best possible price for their clients.”
A spokesperson for haart clarified that the 700 people surveyed were from a nationwide database of consumers held for research purposes by Instinctif Partners. The firm, which does PR for haart, regularly conducts research and surveys for a number of clients.
However, a spokesman for online agent eMoov this morning poured cold water on the claims made by haart.
He said: “It’s funny to look at the word satisfaction in the Haart survey. The world’s most recognised metric for satisfaction is NPS (Net Promoter Score). We’ve recently ran a number of surveys to look at how eMoov compares to the industry as a whole.
This is the sort of information we need to shout about!
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Was this research carried out by independent researchers asking unbiased questions?
Or can one assume it was in fact carried out by Haart?
Really, this is shoddy
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11% of people thought that estate agents charged more than 10%
Who did they survey… children?
I cant believe that this is a survey of people who have SOLD their houses.
Can anyone clarify who was surveyed?
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Pbricks use rmove for their val, they val low and get low offers. Even if they did it for free sellers lose out!
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Not here they don’t, they seem to ridiculously over value!
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At last – useful industry intel from the Mr Smith camp
Based on the average Haart price: £221,797, showing the ability to get vendors more is a great pitch to make clients extra, rather than lose as many budget agencies can’t do.
A friend recently got a certain purple brand round which cae up with a figure similar to one of the main portals AVM. Locally, the budget agent was £20k to £30k under, showing can be very costly.
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Ah but do you know why Trevor? I have actually worked out the formula for how far out they are likely to be anywhere in the country. Given a postcode I have deciphered the random number generator algorithm to show by how much some hapless ‘compooter says’ manager/ expert/ guru/ rep are likely be out on their numbers
I wish I could explain #portaljugglingplus to you right now, it explains why property sellers will pay good money to deal with people they can trust.
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Some interesting research which poses a debatable view of the market. Back in 2014, we conducted a Roundtable debate on the topic “Online vs Traditional Agents”. The highlights to our debate can be viewed here – https://www.youtube.com/watch?v=MfOwoNXowSE.
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“82% expressed their satisfaction while just 4% of the survey conducted by haart had used an online agent…” Two totally different stats rolled into one to suggest something rather misleading. Does this mean that 82% of all 700 interviewed were satisfied – including the 4% who used online agents? And how come 82% “expressed satisfaction” – while 76% believed that agents charge more than they actually do??? Clearly, these idiots need to be found – and charged accordingly…
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82% isn’t something to shout about guys.
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Neither is 99%, Mr Jury.
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A genuine, honest 99% is an achievement Peebee.
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I agree wholeheartedly – but show me one, Robert.
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10% I can only dream. Just like those internet agents who value themselves in millions but have no realizable assets and have yet to make a profit.
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How has this turned into a promote eMoov article – shameless
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It’s called ‘adding balance’.
Except the balance is heavily weighted with usual online ********.
Don’t worry though – it will be TRADITIONAL AGENTS who come out smelling of roses… ;o)
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