Did you know that more than 95% of those looking for a new home in 2016 start their search for a property online – but billions of fees are still paid to high street estate agents by sellers who opt for the traditional route?

Research in 2014 found that British home owners paid more than £4bn in fees to estate agents during that year, with the average seller stumping up £5,116.85 for their estate agent’s services. That’s 2.5% on the sale of an average home, putting the average hourly rate for a traditional estate agent at an astonishing £870.

Surely there must be an easier way?

Online estate agents offer an entirely different pay structure which can save sellers thousands on the sale of their house. Rather than paying a percentage of the sale, which grants estate agents a hefty commission, online estate agencies like I Am The Agent opt for fixed-fee packages, with clear pricing and no extra costs hidden away in the small print, to be discovered at a later date.

With no overheads or fancy high street premises to furnish, online estate agencies can offer a more cost-effective service that doesn’t compromise on any of the services a regular estate agent might offer. From valuation visits to thorough marketing, online estate agents do just as much work as traditional high street agents – for a fraction of the price.

The hidden cost of selling your house

When you come to sell your house, there are a multitude of hidden costs and fees that you’ll need to budget and prepare for, including:

• Estate agency fees – the big one. These fees can spiral into the thousands, and if you’re selling your house for more than you bought it, those fees can quickly eat into your profits and leave you back where you started.
• EPCs – an Energy Performance Certificate for your home is required when marketing the property to potential buyers. The cost of obtaining this document can vary – some sellers have reported paying as much as £120 just for this simple certificate alone.
• Conveyancing fees – regardless of whether you choose a traditional estate agent or an online estate agent, you’ll need a solicitor or legal conveyancer to handle the legal element of the sale. The actual cost of these fees will depend on the sale of the property and how complex the transaction is – but rest assured, as a seller, you won’t be required to pay as much as a buyer.
• Moving and removal costs – don’t forget to factor in the cost of actually moving home. You might need to take time off work to handle the move, and you may need to hire vehicles or labourers to help you move all of the heavy furniture out of the property and into your new one. Depending on the time this takes, and how far away the new property is, this can put the cost of selling your home up even further.

How do online estate agencies help you save?

By paying a fixed price for an estate agent’s services, you could be offsetting the remaining costs of selling your home by thousands. I Am The Agent offers prices as low as £49 including VAT for a sales package – the best in the business. Compare that to the £5,116.85 that is the average estate agency fee for a seller, and you can quickly see where the savings are facilitated.

Even I Am The Agent’s premium package, The Whole Shebang, comes in at just £750 including VAT – which is still thousands less than you’d pay through a regular agent.

What do I get for my money with online estate agencies?

It depends on which package you go for. If you choose the IATA Basic package, you’ll be able to market your property on the IATA website, where it will be advertised for 12 months and mailed out to 70,000 users on the company newsletter. For those who wish to cast their net a little wider, the IATA Essential Package (£399 including VAT) gets your property listed on Rightmove, Zoopla and many other popular property portals, as well as added extras like a For Sale sign, free photography and EPC, and full buyer vetting once you have a few interested parties.

Why online estate agencies are the best choice

When it comes to both price and service, online estate agencies are clearly the way forward for sellers. I Am The Agent offers a comprehensive service that stands head and shoulders above the competition, both in price terms and in service standards. Take a look at our range of sales packages to find out more: https://www.iamtheagent.com/sell-your-property/#pricing