TV property expert and online agency owner Sarah Beeny says there will always be some sellers who prefer to use traditional agents - but she insists operations like her own Tepilo offer “far more cost-effective” services.
Beeny’s Tepilo initially launched a free listings website which allowed individual sellers to upload details and photographs; some four years ago it relaunched as an online agency and in early 2016 refined its offer to include ‘pay later’ options in addition to the typical online upfront fees options.
Now, on the Livemoney website, Beeny has been asked how far online estate agency disruption of the traditional model will go.
“I think it will have a big impact on the market,” she says, “and I think we’ll see more agents operating online only as buyers demand fairer fees, but I don’t think we’ll see all high-street agents completely disappear for a long time yet” she says.
“People buying certain properties – particularly those that are specialist or commercial – often still prefer to buy via traditional agents, so I think they’ll always be a demand for that.
“However, online agents do offer a far more cost-effective and more tech-led service than traditional agents and it’s these factors that are making so many people choose online agents.”
Last month comparison service GetAgent looked at 500 new listings on Purplebricks and all listings by Tepilo, Housesimple and eMoov from January 2016, following them through for 14 months until February this year. It claimed Tepilo had a 48 per cent completion rate.