Estate Agent's Nightmare? Seller's Save Over £600,000 And Counting...
From April 2014 to April 2015 sellers using House Buy Fast's (HBF) unique quick sale method have saved themselves a staggering £619,000 - and that's just the start.
The research makes depressing reading for the Nation's Estate Agents who have lost an estimated £312,000 in commission fees plus the additional revenue normally generated by add on's such as EPC's, photographs and brochures potentially pushing it closer to £350,000.
With House Buy Fast also paying legal fees, another £69,000 has been saved by vendors.
That's assuming using Estate Agents they only paid a solicitor once - with an average 30% fall through rate many sellers end up paying two or three times for legal work using the traditional sale method.
Jonathan Rolande of HBF explains:
"People are increasingly realising the many benefits of selling fast and, importantly, guaranteed.
We are Members of The Property Ombudsman Scheme and The National Association Of Property Buyers for Property Buying Companies and as such we will never stall, reduce prices or pull out without reason.
Unfortunately the same cannot be said of all 'standard' buyers!"
Perhaps the most suprising aspect of their findings is the huge amount of mortgage interest saved.
Over £238,000 saved just because sellers can complete within a matter of weeks, not months.
A seller from Newport explains:
"We needed to sell our home quickly due to family illness.
We had several discussions about a quick guaranteed cash offer as opposed to a traditional sale via the estate agent where the timescale is uncertain.
There was no pressure at any stage and I wouldn't hesitate to recommend House Buy Fast to anyone."
Whilst its clear that the Quick House Sale route will not suit everyone, there is little doubt that more and more people will look to it as the traditional system continues to let them down.
As Jonathan says:
"Far from being a service only required in a bad market, we have seen massive growth in enquiries even when the market is busy."
And as for the future?
"We expect this year to be our busiest yet."
Something bound to give Estate Agents yet more sleepless nights.