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