The UK House Price Dilemma: How to Sell Your House Online During the Fall in House Prices

house price dilemma

Selling your property in the UK has always been a bit of an adventure. This fact has been on a steady rise of visibility, ever since the internet age took over almost the entirety of the UK business sector. Probably no industry within the UK has seen as much positive, consumer-favouring development as the UK property market.

With the arrival of online services, people began to look at new ways to go about their business. Services began to be offered on internet based portals and brick and mortar establishments began to slow down in their momentum, if not close shop altogether. This new development was largely welcomed by the general public, and was seen as a wave of relief from the usual, business practices. These business practices were sometimes inconvenient on the consumer’s part and this was the main reason behind the quick shift in focus of the UK public, from conventional business sources, to more efficient, online ones.

Change in the UK Property Marketchanges in uk market

The UK property market has been undergoing a host of changes, especially in recent times. The very same can be said for the rest of the service sector in the UK, considering the momentous developments that have taken place. However, the single most noteworthy change has been observed in the UK estate business.

The online estate agent has virtually revamped the whole of the UK property business, after initially taking both buyers and sellers by storm, upon its arrival. This was a welcome change, as it brought a new level of ease and accessibility to the formerly detached business type. All of a sudden, people started to opt out of hiring traditional estate agents, choosing instead to sell property quickly using online estate agents.

There were a number of important and noted changes that the UK property business underwent as a result of the Internet estate agent’s arrival. Following are some of the most significant of those changes.

The public became more involved: This is one point that very few people actually noticed at first, despite experiencing it firsthand. The internet estate agent involved their client in the business to a much greater degree than the traditional high street agent. An estate agent with an online business presence started to tailor the service according to the client’s own needs, instead of giving them a few ready-made options.

This made the client feel more confident and important when conducting business, which led to greater enthusiasm on their part.

Service fees went down: Traditional estate agents were already notorious for charging nearly exorbitant amounts for the relatively simple task of selling a house. These charges were taken in the form of a percentage of the final sale profit. More often than not, the fees amounted to thousands, sometimes even tens of thousands of pounds.

This had been the norm in the UK for quite some time and during its heyday, it wasn’t seen as a major drawback. However, once the nominal fee structure of the internet estate agent became known to the public, opinions changed in a matter of weeks. The service charges fell as surprisingly, quality went up and selling your house online continued to rise in popularity.

Sales figures became more consistent: Another important change that took hold of the UK estate market was that despite the general circumstances prevalent in the country, the number of property sales being completed each month became steadily more consistent.

This came about as a breath of fresh air for all the potential sellers who previously used to be virtually grounded, whenever something threatened to upset the property market. The most recent of such occurrences happened during the Brexit scenario, which we will discuss further, later on.

Consistency in house prices meant that homeowners could stop pulling out of transactions, as happened right after Brexit hit the British population.

Property market retained its value: For the most part at least, the property market in the UK retained the value it had before the deciding vote. Although there was some momentum lost and another such event has hit very recently, the internet estate agent has contributed and continues to contribute towards bringing the business value up once again.

Pre and Post Brexit Downfall in Property Value

The speculation had started months before the vote itself, as gurus began predicting the possible outcomes of the decisions, with respect to the UK property business. The most common prediction was that selling your property in the UK will cease to be quite as profitable as it was even last year.

To some extent, the prediction has been ringing true, especially in the bigger, metropolitan cities where property prices were at an all-time high, right before the deciding vote. Selling your UK home, something that was reputed to fetch massive profits, back in the day, was suddenly being seen as a potentially risky business decision and so the industry saw a rapid decline in local interest. Foreign interest grew instead as a number of valuable and prime UK properties were snatched up by foreign investors.

For the most part, there were minor fluctuations in price, as the only places to really suffer a property value downfall were the major cities. The latter however, sometimes saw prices go as far down as 5 to 10 percent. London was an example of such a city. London is once again the epicentre of yet another fall in the value of UK property.

House prices fall after brexit voteLondon’s recent plight, following the Brexit vote

One estimate reported that house prices are expected to fall at a rate of a thousand pounds a day, for at least a month. This is somewhat alarming bit of news, seeing as London has already suffered at the hands of the Brexit vote.

At the very beginning of the entire event that was the referendum, a large majority of experts had predicted that despite taking an early hit after the vote, London will ultimately prevail and the value of properties will go up once again. However, this did not come to pass, and it hasn’t at least for the time being.

The major reasons for this sudden dip in house price in London can be attributed to the city’s status as the financial capital of the country. As the entire economy took a blow due to Brexit, the estate business suffered similarly, especially in London. This is also the reason for most of the focus of all those involved in the business, being directed towards London, in an attempt to rejuvenate the industry.

The efforts being made are remarkable however the majority of the involved parties have hitherto not been able to make much of an impact. That is, save for one group, namely the internet estate agents.

Internet Estate Agents’ role in the Post-Brexit efforts

As mentioned previously, selling your UK home and that too, at a profit, has been a bit of a hassle for most people after the referendum. However, internet estate agents have kept it alive and well, as best as could be hoped for.

Among the entire UK estate agent community, the online estate agents have managed to keep a level of consistency in their working, which rams the point home that selling your UK home with an online estate agent is probably the best possible decision. Especially considering the situation the property market is experiencing at the moment, an estate agent that maintains a high quality standard in their work is the better option.

sell your property better onlineHow to Sell Your House Online and Make a Profit

Selling your house online with the help of an online estate agent is a wise decision, purely because of the many merits that an online estate agent has, in the current UK market in particular. Some of these merits include an acute knowledge of the current pricing yet strategic pricing of their client’s property, as to make the biggest possible profits. Granted, traditional estate agents push for maximum profit as well but in the end, the biggest savings a UK home seller can make is not with a conventional, high street agent, but with an online property dealer.

If we were to go by the most recent developments, the UK property business cannot be expected to recover fully from the beating it took, following the Brexit vote. In these troubling times for the local UK home owner, there is only one solution: To go with the service provider that can get them the highest profit, at the lowest possible service charge. UK internet estate agents do just that, at a fraction of the fee, compared to what traditional estate agents charge.

Despite the clear evidence in the current market, there are some arguments that continue to be made, in favour of the traditional estate agent. The majority of these arguments start with the statement that because high street estate agents work closely with the home buyers in a particular area, they can be better trusted to sell a seller’s property. This is simply not true, seeing as the focus of the traditional estate agent is based on the general property value of the specific type of property in that specific area, and not the current pricing scenario.

UK internet estate agents, due to being based on a technologically advanced platform, are constantly updating their pricing knowledge, as the changes happen in the real world. Plus, their coverage far outstrips the traditional estate agent, sometimes covering the entirety of the UK itself.

The second most common arguments that fans of traditional estate agents make is that UK internet estate agents charge a much smaller fee but their services amount to a much smaller profit as well. This is again, completely untrue. Yes, the internet estate agent tends to charge a fee that is a mere fraction of the traditional estate agent’s demand. However, the amount of money that you can save in service charges, when working with an online property dealer, you’d be hard pressed to save with a traditional high street property vendor.

It is understood that you, as a seller in the UK, will wish to sell your property for profit. However, in order to sell your property for profit, you must decide which type of estate agent has the better merits: The high street dealer whose only concern is making money? Or the online property dealer who wants to progress the actual business?

competitive online estate agentsCompetitive Internet Estate Agents

Online property dealers are the ideal answer to the question of how to sell your home in the UK. iMoveEstates is one such agent. Featuring the best prices, with respect to the high quality services being provided, iMoveEstates is both competent, as well as up to date on the recent pricing fluctuation in the UK.

There are other internet estate agents in the market as well, many of which offer a comprehensive property valuation service that is mostly free of charge and accurate to the dot, when generating an estimate of the value of the property in question. This answers the question of how to sell your home in the UK.

There are various tools that can help you sell your house quickly. The free valuation service is an important one, as it can generate an accurate estimate of the value of your property. All these services, combined with the excellent profit margin, make selling your home in the UK as highly profitable as possible.

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