One-third of home buyers considering online estate agents

Posted: 23 Nov 2009 12:11:16 GMT

More than a third of buyers and sellers are considering using an online estate agent, putting their property on sale at an auction or privately vending, according to new research.

The Office of Fair Trading (OFT) has also revealed that there is a particular increase in interest of home movers using online agents. This is compared to 2004 when the last survey was produced.

Evidence from the research indicates that alternative methods of buying or selling a home are becoming more appealing to consumers.

Heather Clayton, OFT senior director of infrastructure says that the research is important in terms of showing future developments in the sector.

She said: "It shows the enormous potential for new internet-based business models in home buying and selling."

The research also revealed that 24 per cent of traditional estate agents were found not be fulfilling Trading Standards regulations.

Government advice suggests that people should choose an estate agent that is registered with a trade organisation and will set a standard of professional behaviour.

© Houseladder Ltd