Our property sales teams are often asked by prospective vendors to explain why they should consider choosing a high street agent rather than purely online estate agent. This very interesting set of figures appeared on Estate Agent Today (14th November 2018) showing the sale conversion rates of the online, upfront payment, portals. This was based on data from Rightmove. The average overall conversion for all these main agencies was 42%! You can see the performance for each firm below. Every one of the 50,000 listed vendors paid or will pay the fee regardless!
NOTE: Jeffries and Dibbens have listed 1,349 YTD with 1,208 sales agreed, subject to contact. This is a 91% conversion rate!
The Estate Agent Today figures for the pure online agents are here:
Doorsteps – 2,054 properties listed, 1,321 for sale, 733 under offer not exchanged, 28% conversion of listed to sold subject to contract.
Yopa – 5,501 properties listed, 3,539 for sale, 1,962 under offer not exchanged, 35% conversion rate.
Purplebricks – 37,531 properties listed, 21,142 for sale, 16,389 under offer, 43% conversion rate.
Emoov – 2,504 properties listed, 1,696 for sale, 808 under offer, 32% conversion rate.
Tepilo (owned by Emoov) – 1,740 properties listed, 1,162 for sale, 587 under offer, 33% conversion rate.
HouseSimple – 1,140 properties listed, 763 for sale, 341 under offer, 30% conversion rate.