The internet has changed the way we sell our homes, but high-street agents are fighting back – so you need to know... WHICH AGENT IS BEST FOR YOU?
On average, we sell properties – our own or when family members die – around every seven years. Selling is not cheap – on a £200,000 property, expect to fork out at least £3,000 (including VAT) in estate agent fees and legal costs.
And, as bills are usually related to the property’s value rather than work involved, pricier homes cost more.
But selling with online agents can cut costs to around a third of typical high street bills.
As with anything online, you’ll have to do some work yourself. Currently, according to Which?, around one in twelve go online but that’s growing fast.
The obvious plus point of online estate agents is cost, with around a dozen companies to choose from.
The cheapest selling package appears to be doorsteps.co.uk whose basic deal weighs in at £99. Others such as emoov and house network come in at £795 while purple bricks is £849 and housesimple £995. All rates include VAT – estate agents often quote commission excluding VAT.
What you see is not always what you pay. Many have add-ons such as around £150 for organising property visits and a for-sale sign outside the property can be an extra. Others charge for writing property descriptions.
It can depend on how much you are confident doing yourself, including negotiating with prospective purchasers.
Your home will probably end up on property portals such as Right Move or Zoopla, so it competes with estate agent offerings. Most online agents will value your property – usually by comparing yours with similar homes.
A second choice is whether you want a no-sale, no fee deal or one where you pay no matter if the property sells or not.
Hatched.co.uk charges £495 for its standard package where you pay upfront. If you don’t have the money, then you can pay later with its “enhanced” £895 deal. And if you want no-sale, no-fee, this agent will charge £1,695.
Both online and bricks and mortar estate agents have to adhere to the same regulations, including membership of an ombudsman -scheme.
Some such as Purple Bricks try to offer the best of both worlds. These “hybrid agents”, put you in touch with a “Local Property Expert” to value your house, take photos and organise viewings.
High street estate agents are fighting back though. Many now offer fixed-price deals at lower prices than the traditional structure or have slashed commission rates.