So, you’ve probably heard: Online Estate Agents are a shitload cheaper than using the regular high-street agent.
Your interest has been perked…
So now you want to find out how much cheaper…
Use the Online Estate Agent Vs Traditional High-street Estate Agent Calculator below to workout how much you could save by using an online estate agent to sell your property…
What’s your property worth?
You could save approx:
with an Online Estate Agent
Savings based on an estimated traditional estate agent charge of 2% + VAT of the overall property price and the average Online Estate Agent fee of £600 inclusive of VAT.
How much do your local high-street agents charge?
To get the most accurate result from the calculator, it’s best to contact a few of your local agents to find out their commission rate, and then adjust the ‘rate input’ accordingly. The default value is set as 2%, because that’s the average.
According to this article on the HomeOwners Alliance website, high-street estate agents usually charge a percentage fee, which can be anywhere between 0.75% and 3.5% of the agreed selling price.
How much will it cost to sell my house?
Here are some typical and estimated costs of selling a home, including the varying costs between an online and high-street estate agent:
|Estate Agent Fees|| High-street Agent: 0.75% – 3% of sold price|
Online Agent £99 – £1,695
|Conveyancing Solicitor||£500 – £1,800||More Info|
|Home Report (Scotland Only)||£500 – £700|
|EPC (Energy Performance Certificate)||£50 – £120||More Info|
|Removals||£300 – £1,200|
As expected, the majority of the costs is incurred on estate agency fees, particularly when using an high-street agent!
I don’t know how much my property is worth
Oh, you silly donut!
No, I’m joking.
Ok, there’s a few things you can do in this situation…
- Look on Rightmove and/or Zoopla for similar properties for sale in the same area. You’ll also be able to access historical data showing ‘recent sales’, which is always useful. At the very least, you’ll be able to get a pretty accurate estimation.
- Many online estate agents provide a free valuation service! But be warned, most of them will valuate your property based on current and recent house-selling statistics, which will largely entail perusing websites like Rightmove and Zoopla, from the comfort of their own office (i.e. an agent will visit your property). So needless to say, those valuations aren’t always accurate. However, if you use a ‘Hybrid online estate agent‘ (which is a cross-breed between an online agent and a traditional high-street agent), you’ll be able to benefit from a local agent visiting your property to conduct a proper valuation. If you don’t want to use a Hybrid Agent (they do cost a few hundred quid extra), it’s best to do the following…
- Contact a few local estate agents and get them to conduct a valuation! Most agents will do it for free with no obligations. But it’s always recommended to ensure that before agreeing to the valuation! ‘Cause ya’ know, most agents are greasy snake-oil bastards.
List of Online Estate Agents & more explained
Right, so you’ve crunched the numbers – what ya’ gonna do?
If you’re squirming with excitement by how much you can actually save by using an online estate agent, go ahead and…
How much are you saving?
If you’ve used an online estate agent, or are in the process of using one, I’d love to know how much you saved, or about to save…