Most property journeys, when selling, begin with having to choose an estate agent. Additionally, you also have the choice of selling your home online or with a high street agent.
Is it worth using an agent at all?
Let’s be honest; selling a property can be tricky and time-consuming. This is why a good agent is critical to reducing your stress levels when selling. They will talk you through the steps and help you move, smoothly. A good estate agent knows their local area inside out and how to best market your property. After all, they’re experts in their field and trained in how to sell a property.
Which has lower fees?
If you sell your property with an online agent, you will likely have to pay a fixed fee, although some online agents also claim to sell your property for free. Fixed fees are often lower than high street agent fees and charged up-front, so you will have to pay the same amount regardless of how long it takes to sell your home. Even if your property doesn’t sell, you could still be expected to pay the fee.
If you sell your property using a high street estate agent, you’re more likely to be charged a percentage of the price paid by the buyer. This is the more traditional method and means the estate agent is only paid once your home is sold. Percentages do vary depending on the estate agent, with most charging between 1-2%.
What does no sale, no fee mean?
In most cases, you pay online estate agents up-front, rather than on the completion of your sale. This means that if your property doesn’t sell, and you want to switch away from the online agent, you could lose the fee that you paid.
By taking their fee once your property has sold, high street agents like us are incentivised to work harder to sell because they won’t get their commission unless you get your sale.
Who offers a better service?
Regardless of the fee charged, you want to be sure that you’re getting the service you need to sell your home. Most online agents will arrange viewings and give you feedback on viewings and offers via an online dashboard. Many support with sales negotiation and progression. There is usually an additional charge if you want the online agent to conduct viewings or for any optional extras.
By comparison, probably the most obvious advantage of opting for a high street agent, like us, is that the service you receive will be personalised according to your property and situation. You will be working closely with a person you can chat with face-to-face, as opposed to someone online, which can provide a lot of reassurance for many when undergoing such a large and personal task as selling their property. High street agents prioritise local knowledge and their local database as a key factor to success. They will also take care of the sale of your property, from marketing the property to finding prospective buyers, carrying out viewings and completing all legal formalities necessary to exchange. Regardless of whether you choose an online or high street agent, you'll probably need to chase progress whichever agent you use.
Don’t take anything for granted: it may be possible to save money selling your home online, but it’s important to understand exactly what services you’re getting from the start, and to read the small print so you avoid any surprises.
When making your decision, it’s vital you consider all of your options. It’s likely your choice will be impacted by your personal circumstances, so you need to be sure your sale works for you.
If you’re serious about selling, a great place to start is finding out how much your home is worth. We can give you a valuation of your property in less than 60 seconds.