Online agent promises refunds if property does not sell within six months

An online agent says it will refund vendors if the property does not sell inside six months.

Online Estate Agent NI is recruiting local property experts across Northern Ireland.

The firm, based in Dungannon, was incorporated in March according to Companies House records, with just one director 26-year-old Johnathan Jordan.

Jordan is described as coming from a family of traditional estate agents and now claims online agents can save clients’ money.

He confidently told Belfast Live: “We believe in investing in the latest technology including 360-degree virtual tours, to ensure vendors and landlords receive the best possible market exposure.

“The ten new posts will allow the company to expand our services to cover all areas of Northern Ireland and we are seeking experienced local estate agents with expert local knowledge to join our team.

“Around 98% of all property searches now begin online and we feel that the current model operated by traditional high street estate agents of charging a high percentage fees is tired and outdated.

“Our lower fixed fee allows vendors and landlords to save thousands whilst still receiving the exact same service.”

Online Estate Agent NI works out its savings by comparing its fixed fees against an average high street agent charge of 1.5%.

The website offers three sales packages.

Vendors could advertise only for £150 and will be listed on all major property portals.

However, any extras such as pictures, Energy Performance Certificates and sales progression would be paid for separately.

For £499 upfront, vendors could get a visit from a local property expert as well as the typical estate agent services such as an EPC, property descriptions, memorandums of sale and help with negotiations.

There is also an option to pay £699 upfront plus £499 on completion.

Online Estate Agent NI also offers a rental service at £200 upfront to fully list and provide tenant checks but if landlords want help with rent collection, inventory checks or inspections that would cost an extra 6% of the rent per month.

The agent is part of the TDS and TPO.

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4 Comments

  1. Woodentop

    Another one to add to the list of we can do it for less. The business model is based on numbers of vendors to make profit v service offered. Works for the owner for very little work while the staff run around trying to EA. Are they self employed!

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  2. femaleagent88

    sell in six months needs to clarified, is that get an offer or complete?

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  3. Clarkuk

    http://www.bristolpost.co.uk/house-sellers-making-new-wave-online-estate/story-28652473-detail/story.html

    this story is referenced on his website.

    I’ve just read it and it makes for interesting reading – but what I pulled out of it was:

    1) House sales fall through a lot with online agents – only one seems to have completed but in the other cases they found a buyer in days and it fell through

    2) People choose online because they think it’s all about knowing the home – quite rightly… but WE know what buyers want, We have talked to them in detail about the house before they view, they can be open and honest with an agent as they will not insult anyones décor by telling me they hate the colour of the kitchen.

    3) Noone has made them aware of any feedback – when it isn’t selling this is literally the most important thing to gather

    4) a good property priced correctly will sell anyway.

    5) “They do nothing to instil trust in their customers and are not transparent about how much they charge” – traditional agents. SERIOUSLY? how much more transparent can we be? 1 charge for each house at x% if you agree a sale you pay x% of the agreed fee.  SELL YOUR HOME FOR £499 (+ extras) is deliberately opaque – photos, viewings, floorplans, feedback, brochures, sales progression, a sign and an experienced local agent are NOT addons, they should not be EXTRA to their advertised fee. if you take away all these all you have is internet space at £499. Agents….BAH!

    6) this article is rubbish – couldn’t think of 6 and want to go home now

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  4. Trevor Mealham

    Can agents who can’t get a decent fee really achieve clients a best (decent) SSTC.

    NO.

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