The following article was taken from Property Eye this morning and is interesting to read the spin given by online agents. Follow the link at the bottom to see the industry respond!
The supposed stress of dealing with estate agents is one reason which puts people off moving home.
However, in a list of ten possible deterrents put to people by online firm YOPA, it ranks in only eighth place.
YOPA, in a survey of 1,000 UK home owners, found that other factors which stop people from moving home include the cost, the overall stress involved, a lack of suitable homes available on the market, wanting to stay close to family and not wanting to leave the area (we think this translates as not wanting to move at all), and being rejected for a mortgage.
Over half (52%) of respondents reported that the high cost of moving – including removal costs, Stamp Duty, legal fees and estate agents’ fees – was the primary factor preventing them from moving to a new home.
Four in ten (44%) said they were reluctant to move home because they felt that the moving process itself was far too stressful.
Over a third said that other properties on the market were too expensive, whilst more than two in seven felt that the process of selling their home was too complicated.
Other factors Brits reported as putting them off moving home included a lack of suitable homes available on the market (28%) and not being able to find a home in the area they want to move to (17%).
An equal number of respondents (15%) stated that they didn’t want to leave their current neighbourhood and wanted to stay close to family. The same number claimed that they thought dealing with estate agents was much too stressful.
One in seven reported that their dreams of moving home were scuppered because they couldn’t even get accepted for a mortgage.
Daniel Attia, CEO and co-founder of YOPA, said: “It’s shocking to find that high costs top the list of factors stopping people from moving home.
“The fact that home buyers need to save upwards of £10,000 on top of their deposit to cover less obvious costs like Stamp Duty and removal fees, combined with sky-high house prices, is making it harder than ever for people to move.”
He claimed: “It’s no surprise then that the popularity of fixed-fee estate agents like YOPA are on the rise, knocking an average of over £3,000 off these costs and making moving home much more attainable to the average person.
“Consumers are becoming increasingly savvy to the huge savings that can be recouped from avoiding estate agent commission, which is usually between 1% and 2% of the property’s sale price.
“The fact that so many people feel baffled by the process of selling their home and think that dealing with estate agents is too stressful to warrant moving, clearly demonstrates that estate agents in the UK still have a long way to go in terms of driving up standards, demystifying the home-selling process and delivering a positive customer experience.”
The survey asked: What are the top factors that put people off moving home?
52% – ‘The cost of moving is too high’
44% – ‘The moving process is too stressful’
35% – ‘Other properties are too expensive’
29% – ‘The selling process is too complicated’
28% – ‘Lack of suitable homes available’
17% – ‘I can’t find a home in the area I want’
15% – ‘I don’t want to leave my neighbourhood’
15% – ‘Dealing with estate agents is too stressful’
15% – ‘I want to stay close to my family’
14% – ‘I can’t get accepted for a mortgage’