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Is this the start of a new breed of estate agents?

By Nick Biring on in Selling

Is this the start of a new breed of estate agents?

There are many different estate agents popping up in the property industry. We’re all used to high street estate agents, but there has been a rise in online and hybrid agents maximising on using technology to reduce costs for those selling or letting their property – without compromising on customer service.

With the array of different estate and letting agents, with different fee options and services, it can be a mind field to find the right agent for your needs. That’s why you can now compare selling and letting fees and services on our website, anonymously.

But we’ve caught wind of another online estate agent doing things differently. Nested.

Nested is an online estate agent. They provide instant online valuations, marketing and sales on residential property. But there’s a fundamental difference – they guarantee to sell your home within 90 days for 95-98 per cent of the market value (dependent on property type and area). Their sales fee is 2.5 per cent + VAT.

So you must be wondering, what happens if my property doesn’t sell within that period? After all, can anyone guarantee this?

Well, there’s another fundamental difference. If your property doesn’t sell within 90 days, Nested will give you the money themselves. And if they achieve a higher sale price – before or after 90 days, the profit is split 70/30 in favour of the seller.

Current problem

It can be difficult to sell your home and buy another home at the same time. Many people find their perfect home to lose it because their current home isn’t sold on time. One in three transactions fall through, and as a seller, buying in a chain is a risk.

Brexit is causing uncertainty. Property transactions are also down 32 per cent in London. So, could this be the new secure way to sell your home?