Should I Use An Online Estate Agent?

Using online estate agents to sell your home can save you lots of money. But are they any good and how do they work? We look at what they do, how much they charge and the pros and cons of using online estate agents. Whether you’re considering PurpleBricks, YOPA, Sold.co.uk, or Strike, you’ll know what to look  for.

We analyse the performance of every active estate agent in the UK and using basic information about your home, we provide you with a list of agents that cover your postcode and how they perform against each other.

What Are Online Estate Agents?

Online and hybrid estate agents deal with just under 7% of UK home sales (Twentyci page 2).  Online estate agents usually charge a lower, fixed, up-front fee and provide everything you need to get your home on the market. They will offer photos, floor plans and listings on Rightmove and Zoopla. Most online agents will arrange viewings and provide feedback (and offers) via an online dashboard. Some will assist you with sales negotiation and progression. (There is usually an extra charge if you want the online agent to conduct viewings).

Why Should I Use Online Estate Agents?

When Online Estate Agents first emerged in the UK more than 10 years ago, the service offered was fairly hands-off. They left the seller to compile the marketing information, negotiate with buyers and conduct the viewings. In recent years however, online estate agents have added to their services and now offer a more “hybrid” service. Some now also offer no sale no fee packages.

With the success of Online Estate Agents in theUK, sellers now benefit from the reduced costs of operating online but with access to “local property experts” who assist with valuations, negotiation, sales progression and (for an additional cost) viewings.

Benefits Of Online Estate Agents

The main benefit of using online estate agents rather than traditional agents is the cost. The cheapest online estate agent in 2022 will market your home for no charge (Strike). The most expensive (Purplebricks or Yopa) charge £999 including VAT (charges may be higher in London). You will often pay extra if you want them to conduct viewings or negotiate with potential buyers.

In comparison, high street estate agents charge an average of 1.42% incl VAT. So, if you sold your home for £300,000, you’d have to pay a high street agent approximately £4,250 in commission.

Use our online estate agents fees calculator; We analyse the performance of every active estate agent in the UK and using basic information about your home, we provide you with a list of agents that cover your postcode and how they perform against each other.

What Is A “Hybrid Agent”?

“Hybrid agents”, like Purplebricks and Yopa, are online agents that also offer services traditionally only delivered by high street agents. They are more expensive than other online agents.

If you choose to use a hybrid agent that offers you a local property expert that do valuations, negotiation and sales progression, always ask:

• Are your local experts qualified estate agents that know your area?
• How big a local area do they cover? 
• Are there any additional costs for the local expert to conduct viewings?

Comparison Of Online Estate Agents Fees 

Both the above offer a fixed fee service which includes:

• Full service with an expert local estate agent 
• valuation 
• Assistance with negotiation
• Assistance with sales progression
• Online tools to track viewings, feedback and details of offers.

Strike offers a free service to sell your home. Their free package includes floor plans, photography and listings on Zoopla and Rightmove. They also offer a full service package including viewings from £699.

Pros Of Online Estate Agents

• Cost – You can save thousands of pounds in fees using an online rather than high street estate agent
• Transparency – Online agents must display their fees openly on their websites inclusive of VAT.  
• They have a dedicated portal where you can follow the whole process.
• Flexible packages and prices.

Cons Of Online Estate Agents

The main disadvantages of using an online estate agent versus a high street agent are:

• Paying up front. In most cases you have to pay online estate agents up-front. 
• If your property doesn’t sell or you want to switch agents, then you’ll lose your money. 
• Some offer packages that allow you to pay on completion but they are usually more expensive. 
• Some offer deferred payment but you will have to pay this usually at the 10 or 12 month point whether you have sold or not. 
• Pay later deals often involve signing up to a credit or loan agreement with a third party organisation.
• Valuations; even their “local property experts” often aren’t local enough to know your area and your road well enough to value it accurately. They will likely use online data.
• In house services; Check the fee advertised isn’t conditional on you using the agent’s in-house services,such as their mortgage broker or conveyancer. This shouldn’t be allowed but does happen. 
• Commitment; Managing everything yourself can take up more time than using a very good high street estate agent who does everything for you.
• Viewings; If you choose not to pay extra to have viewings conducted for you, you need to be comfortable showing people around your home.
• Sales progression and negotiation; A good high street agent is incentivised to progress the sale, talking to both sets of solicitors to get you to completion. 
• Sold Price; Depending on your negotiation skills, a high street agent may be able to achieve a higher sale price than you or your online estate agent.

List Of Viewing Fees

As of November, 2022

List Of Online Estate Agents

To find the best one for you, list the online estate agents and check:

• The prices that are transparently listed above
• Their TrustPilot reviews and ratings
• How often they achieve the sale price

We analyse the performance of every active estate agent in the UK and using basic information about your home, we provide you with a list of agents that cover your postcode and how they perform against each other.