Online Estate Agents Should Have A Wealth Warning, Expert Says

Sellers who use online estate agents should be provided with a wealth warning before going ahead, so says industry expert Adam Day who founded Hatched and has experience with EasyProperty and Emoov.

In a vlog post Day offers a number of thoughts on the current state of the online estate agency business model, reflecting on the way it is has changed dramatically since its original inception. He suggests that some online agents today are simply self-service platforms linking up buyers and sellers and do not, and cannot afford to, provide the level of professional service that customers need.

Day says that as a result sellers ought to be given a wealth warning that they might not receive the best price for their property. He comments; “Because allowing the seller and buyer to negotiate directly, is no more than private house sales. And can seriously affect your wealth.”

Day is by no means the only expert to suggest that, in its current form, there are critical flaws in the online estate agency business model. He is, however, perhaps one of the first to suggest that sellers who sell online could effectively be giving their house away.

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