Online agents most popular with sellers in strong markets

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New research appears to show that Purplebricks, HouseSimple, Yopa and other prominent online agencies are most popular with vendors selling in strong markets.

In those local market, online agents can take up to 10 per cent of the market share; however, across the country as a whole they still appear to represent closer to six per cent according to the consumer group, HomeOwners Alliance.

The HOA’s analysis looked at transactions made during a 180 day period and broken down by more than 100 postcode areas in England and Wales. It considers Purplebricks, Yopa, House Simple, Express Estate Agents, Tepilo, Emoov, Doorstep Agents, Open House Estate Agents, and The Good Agent.

The findings suggest online agents are most popular in areas where the success rate of selling is higher than the national average.

Dudley, Lincoln and Wolverhampton are the parts of country with the highest percentage of properties advertised only using leading agents without high-street offices, with between eight and 10 per cent market share.

Nine out of the top 10 areas boast above-average successful sales rates ranging from 55 to 66 per cent suggesting – according to the consumer group – that online agents are faring best in the most buoyant sections of the property market.

Across all of England and Wales the average success rate is 51.9 per cent.

Use of online agents is slower in parts of the South and the North, with three postcode areas inside the M25 amongst the parts of the country with the lowest adoption rates — North West London (2.4 per cent market share), West of London (2.5 per cent) and Harrow (2.6 per cent).

Use of online agents is also lower in Darlington, Durham and Wigan.

The research has been undertaken using a tool developed by the HomeOwners Alliance, called EstateAgent4Me.

HOA chief executive Paula Higgins says: Even though we may find our next property and do our research online, we seem to be slow adopters when it comes to the way we sell our homes.

“Where homes are harder to sell, it’s possible homeowners may prefer the presence of high-street premises and a professional agent on hand to show potential buyers around.”

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Written by: Houseladder