How MUCH below market value are you prepared to go?
There’s been quite a bit of change in the estate agency game over the last decade and, until recently, companies like us were the new kids on the block. We’ve been among those shaking the tree and upsetting the establishment with our low fees and new technology while estate agency in general has given itself a hard time coming to terms with the internet and a different way of doing business.
But, suddenly, online estate agents are not the latest thing any more. There are other new players in the property game – and they’re already all over the TV offering deals even the new-tech, cut-price online agencies are going to struggle to keep pace with.
We buy any property
You’ll have no doubt have heard of WeBuyAnyCar.com? Well, now there are companies out there offering to do the same with property. If you want to sell your home, they’ll buy it, regardless of size or condition. What’s more, if they don’t complete within a set deadline, they’ll even pay your mortgage until the deal is done. Simples, as a certain meerkat might say.
It sounds great doesn’t it? No more hanging around wringing your hands waiting for a viewing. No more breaking chains or flaky buyers to worry about. They tell you what they think your home is worth, you accept and – bingo! You can look forward to a pile of cash and a completion date.
So, where’s the catch?
If the truth be told, if you’re the sort of seller who just wants a quick deal and you’re quite happy to pay a bit extra to avoid the hassle, there probably isn’t any. The value placed on your property might be a tad below the market value but then that’s a price you’re happy to pay for a quick sale guaranteed, right?
The thing is, how MUCH below market value are you prepared to go?
How low can you go?
If it’s more than £500, then you’ve already paid more than you’d be paying us to sell your home online. If it’s more than £3,000, then it’s costing you more than an average high street estate agent’s commission. If you’re happy paying that in return for a speedy house sale, fine. But, if not – or if it’s much more than that – then it might be time to think again.
The thing is, companies like this will need to rely on a swift turnover to keep the cash flowing. If it ends up with a stock of properties it can’t sell on, then the price it’s willing to pay you for your home is likely to come down even more.
As the saying goes, you pays your money and takes your choice. Our advice though is to be sure you’ve looked into them all first rather than being suckered by a catchphrase or a nifty little advertising jingle.