SW agents’ group says online operators are driving up fall-throughs

A recent increase in the house sales fall-through rate is due in part to the rise in cheap online listing agents, says South West independent agent network The Experts in Property (TEiP). Chairman Steve Moir (pictured, below) says he believes the current high fall-through rate, which he says is 34% among all agents in the UK compared to between 25% and 30% in 2010, is down to online agents working less hard in preventing fall-throughs. He also says the fall-through rate within his network of agents is just 10%, and reveals that his members have begun offering to pay the upfront fees of vendors who have failed to sell their homes through an online agent. “We are on a mission to demonstrate that the traditional full-service estate agent is better and at the end of the day, more cost effective than online listing agents, with less stress and disappointment, all the way to a move, and we are prepared to take a hit to prove the point,” he says. Youtube video To make these points, Steve has launched a video on YouTube as part of the campaign. TEiP, which represents 80 traditional agents, has produced the “hard-hitting campaign” because its members…