Case Study: Gilson Gray Property vs Online Agent

Recently there has been a lot of market commentary on the pros and cons of online agent v’s traditional estate agent. It’s all well and good reading about these articles but here is a case study from one of our valued clients who made the switch.

Background

Miss Bonnar had employed our conveyancing team to carry out the legal work for the sale of and purchase of her properties.  The conveyancing team had recommended our estate agency service but she had already instructed a well-known Online Agency to sell her home.

She was attracted by the website and low fees and given the buoyant market thought she would give them a go.

The agent visited her home, valued it and was instructed there and then.  That is when a catalogue of problems began:

• Poor photos and marketing advice
• Poor communication – no one from the online agency responded to her requests for updates. When she finally heard they were dismissive of her questions
• Poor advice on anticipated selling price

There was a reasonable response to the listing and the agent advised that there were a number of notes of interest and that a closing date should be set. The closing date came and went with an offer in around the home report value.  At this point, Miss Bonnar felt the online agency was trying to persuade her to take this ’good ’offer.  She contacted Kay Anderson who looked after her conveyancing here at Gilson Gray, she recommended speaking to Rob McGregor in our estate agency team who advised her on the figure she should have expected.

• Based on recent sales advice Rob felt  that she should be able to achieve £15,000 over the home report – Miss Bonnar advised that online agency had not shown her the same recent sales data and decided to switch

The property was visited, new photography was taken, sales material were created and the property re-launched in under 5 working days. In short order, we had a closing date and secured a buyer at 10% over the home report value for Miss Bonner.  In selling through Gilson Gray we sold for £18,000 more than recommended by the online agency less our estate commission giving a net gain of £15,850.

With online agencies promising lower fees it’s easy to see why people think that it’s the best deal to go for but as this case study shows it’s not always the best value for not only service but more importantly money in your pocket at the end of the sale.

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For More Information Contact:

Rob McGregor
Mobile: 07841 920088
Direct Dial: 0131 516 5368
Email: rmcgregor@gilsongray.co.uk

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Matthew Gray
Mobile: 07730 001053
Direct Dial: 0131 516 5367
Email: mgray@gilsongray.co.uk

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The information and opinions contained in this blog are for information only. They are not intended to constitute advice and should not be relied upon or considered as a replacement for advice. Before acting on any of the information contained in this blog, please seek specific advice from Gilson Gray.