In today’s digital age, selling your house online has become an increasingly popular option for homeowners in the UK. This comprehensive guide will explore the various aspects of online property agents, providing you with valuable insights and tips to help you understand this modern approach to property transactions.
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Selling Your House Online: A Comprehensive Guide
Online estate agents have revolutionised the property market, offering a more cost-effective and flexible alternative to traditional high street agents. These digital-first companies typically operate through websites and call centres, providing a range of services to help you sell your home.
Types of Online Estate Agents
- Online-only agents: These platforms require sellers to handle most aspects of the sale themselves, from photography to viewings and negotiations.
- Hybrid agencies: A more comprehensive option, hybrid agencies combine online services with local property experts who can assist with valuations, viewings, and negotiations.
Benefits of Selling Your House Online
Opting for an online estate agent can offer several advantages:
- Lower fees: Online agents often charge fixed fees rather than commission, potentially saving you thousands of pounds.
- Greater control: You have more involvement in the selling process, allowing for a personalised approach.
- Wider reach: Online listings can attract a broader audience of potential buyers.
- Flexibility: Many online agents offer 24/7 support and services outside traditional office hours.
The Online Selling Process
- Property valuation: Many online agents offer free online valuations, with some providing in-person assessments by local experts.
- Listing creation: You’ll need to provide details about your property, including photos and descriptions. Some agents offer professional photography services.
- Marketing: Your property will be listed on major property portals like Rightmove and Zoopla, as well as the agent’s website.
- Viewings: Depending on the service you choose, you may conduct viewings yourself or have an agent handle them.
- Offer negotiation: Most online agents will help negotiate offers on your behalf.
- Sale progression: Many online agents offer support throughout the conveyancing process until completion.
Step 1: Find an online or hybrid estate agent
Choosing an online estate agent can feel overwhelming; there are YOPA, Strike, and PurpleBricks to name a few. To help you make a decision, we compared the packages, pricing, and ratings of the leading agents in our comparison table. We’ve done the hard work so you don’t have to!
What to check and compare when choosing an online agent:
- Fees are often the biggest draw of online estate agents compared to high street agents. Our estate agent fees calculator can help you compare prices. Many online estate agents offer starter packages ranging from £0 to £1000 including VAT. Paying upfront can save you the most money, but you can also pay later – though it’s more expensive.
- No sale no fee packages are available, but they are usually pricier. Some estate agents also offer deferred payment options, though you’ll have to pay at the 10 or 12-month mark whether your property has sold or not. Often, these payment plans involve a third-party credit or loan agreement.
- Packages vary from ‘standard’ to ‘enhanced’ or ‘premium’, so it’s important to compare online estate agent prices and packages to get the right package for you. Make sure basic services such as photography, floor plans, advertising on Rightmove and Zoopla, and a For Sale board are included in the package. Any additional services will come at an extra cost, so make sure you’re only paying for what you need.
- Be aware that ‘extras’ like Energy Performance Certificates, premium listings, social media campaigns, and accompanied viewings can incur extra fees – sometimes expensive ones.
- Always ask if the marketing period is fixed or unlimited, as some packages last six months, others a year.
- Services offered: Assess what’s included in the package and what might cost extra.
- Customer support: Look for agents offering comprehensive support throughout the selling process.
- Reviews and reputation: Research customer feedback and industry ratings.
Step 2: Get the right valuation
Getting a good estimate of your home’s value is important. It can impact how quickly you sell your house, and at what price. To get the best understanding of your property’s worth, consider getting three local high street estate agents to come and value it.
Online agents can provide detailed valuation reports, or you could go with a local property expert or agent.
Your local high street agent is probably the best placed to give you an accurate appraisal of the local housing market. Invite them around to assess your property and discuss marketing. You may even be persuaded not to go with an online agent.
It’s essential to get the right valuation. This will ensure that you get the best possible price for your home, and potentially secure a speedy sale.
Step 3: Start marketing your property
Depending on the services offered by your chosen online estate agent, they should typically send out an agent to take photos, create floor plans, and generate your Energy Performance Certificate.
They can either write up the details of your property for you to review, or you can do it yourself with their online system. Generally, online agents are quite efficient in doing this (normally within a week) and are usually quick to get your property listed on the major portals.
Step 4: Conduct viewings and seek feedback
Usually, you’ll be asked about your availability for property viewings. Online estate agents will use a secure system so that only you and the agent have access to book potential buyers.
The typical approach with online estate agents is that you show people around the property yourself. With the increasing popularity of PurpleBricks and Yopa, hybrid agents that offer an online service accompanied by local property experts to do viewings, other online estate agents are following suit by offering add-on options.
Talk to the agent to find out how many viewings come at an extra cost, who will do them, and how it will work in reality. These packages can get pricey quickly.
Make sure the estate agent asks for feedback from each viewing and passes it on to you. Don’t be afraid to contact your online agent regularly to stay on top of things, particularly if you’re not getting many viewings.
Step 5: Offer negotiation
When making an offer, the online agent should vet the applicant to ensure they have the necessary funds to purchase the property and are in a position to do so.
The agent should provide all of this information and guide you through the negotiation and acceptance process. If you’d prefer to handle this yourself, you can always talk to the buyer directly to negotiate. Selling online should provide you with the flexibility to do so.
Step 6: Manage the chain
Good estate agents should help with sales progression through to completion. But the success of this depends on the quality of the estate agent.
You may prefer to handle the process yourself, or you may want the estate agent to take care of everything, including keeping in touch with both sets of solicitors and estate agents down the chain.
Think about what’s important to you when selecting an online estate agent. Make sure that if you want to stay out of it, they can take the lead and move things along.
Step 7: Exchange and completion
Exchanging contracts is the moment when the sale becomes legally binding and is normally taken care of by your conveyancing solicitor.
You and the buyer should arrange the date of completion – the day the money is transferred and your house is sold – before the day arrives. As most online estate agent packages require an initial payment for marketing, there are no huge commission fees at this point. So it’s time to get the champagne flowing!
We’ve provided the table below to give you a quick overview of the advantages and disadvantages of using an estate agent or selling your home on your own.
Estate agent
Do-it-yourself
Cost
Online Agent: From around £99
Hybrid Agent: From around £599
High Street Agent: Usually around 1.3% + VAT commission
Potentially £0, although you do have to factor in your time.
Advertising
Advertising should be included in the price, and will likely include a listing on Rightmove and Zoopla. In addition, you should also get high-quality photos and a good description of the property.
You cannot advertise on Rightmove and Zoopla as an individual. However, you can advertise on various social media sites, such as Facebook, Instagram, Gumtree and so on. However these could never hope to have the same reach as the biggest two property websites in the UK.
Floor plans
Most will include a floor plan, and accurate dimensions, which can help people understand exactly what they are getting.
You will have to produce the floor plan yourself.
EPC
EPCs are not included in the cost, but you can either get one yourself or arrange one through an estate agent.
You will have to arrange the EPC and ensure it is up to date – you will have to pay for this.
Fielding calls and offers
The estate agent will field all calls and offers and then relay them to you. Also, many online and hybrid agents will have systems allowing you to review buyer offers and more.
You must ensure that buyers can contact you and in many cases, publicly list your phone number.
Chasing up the chain
The estate agent will deal with buyers and sellers in the chain.
You will have to find out where your buyers are in the chain, if there is one, and chase up on a regular basis to ensure the chain doesn’t fall through.
Tips for Successfully Selling Your House Online
- Price your property realistically: Use online valuation tools and local market data to set a competitive price.
- Invest in high-quality photos: Professional-looking images can significantly boost your listing’s appeal.
- Write a compelling property description: Highlight unique features and local amenities to attract potential buyers.
- Be responsive: Quick responses to enquiries can keep potential buyers engaged.
- Prepare for viewings: Ensure your home is presentable and be ready to answer questions about the property.
- Consider additional marketing: Some online agents offer premium listings or featured property options for increased visibility.
Online options
Online estate agents offer various packages that can fit different budgets. In comparison to high street estate agents who usually charge between 1% and 3%+VAT commission on the selling price, conventional online estate agents usually charge a flat fee ranging from £100 to £2,000.
It is important to pick the right package for you, as some of the cheaper options do not include services such as photography, floorplans and advertising on the major property listing websites.
Some conventional online estate agents offer an option if you pay the fee upfront. However, this carries a risk as there is no guarantee that your property will be sold.
If you need to switch to another estate agency, additional costs will be incurred. Other estate agents provide a no-sale no-fee package, which eliminates this risk but is usually more expensive.
Who should you be advertising your house with online?
The answer is simple: Rightmove, Zoopla and PrimeLocation. Why? An overwhelming 98% of buyers use these websites as their first step in finding their next home. Almost everyone who is buying a house will look at one of these property portals at some point in the process.
Rightmove is by far the biggest of the three, with an average of 141 million visits per month. Zoopla comes in second, with 32.4 million, and PrimeLocation is the third largest and is also owned by Zoopla.
Potential Drawbacks and How to Mitigate Them
While selling online offers many benefits, it’s important to be aware of potential challenges:
- Limited local knowledge: Some online agents may lack in-depth knowledge of your specific area. Combat this by researching local market trends yourself.
- Reduced personal interaction: If you prefer face-to-face communication, choose a hybrid agent or opt for video consultations when available.
- Upfront fees: Some agents require payment before your house sells. Look for ‘no sale, no fee’ options if this is a concern.
How much does it cost to sell a house online?
Costs for selling a house online in the UK typically range from £99 to £1,500, depending on the level of service and the specific online estate agent. Some agents offer basic packages starting at around £99, which usually include listing your property on major portals. More comprehensive packages, including services like professional photography, hosted viewings, and dedicated support, can cost up to £1,500.
It’s important to note that these fees are often significantly lower than the commission charged by traditional estate agents, which can be 1-3% of the sale price plus VAT.
Can I sell my house myself online without an estate agent?
Yes, it is possible to sell your house yourself online without an estate agent in the UK. This process is known as private selling or ‘For Sale By Owner’ (FSBO). Here’s how you can do it:
- Value your property accurately using online tools and local market research.
- Create a detailed listing with high-quality photos and descriptions.
- List your property on FSBO websites and social media platforms.
- Handle enquiries and conduct viewings yourself.
- Negotiate offers directly with potential buyers.
- Hire a conveyancer to handle the legal aspects of the sale.
However, be aware that this approach requires significant time and effort, and you won’t have access to major property portals like Rightmove and Zoopla, which only accept listings from estate agents.
How long does it take to sell a house online?
The time it takes to sell a house online can vary greatly depending on factors such as the property’s location, condition, price, and current market conditions. On average, selling a house online in the UK can take anywhere from 4 to 12 weeks. Here’s a general timeline:
- Listing preparation: 1-2 weeks
- Active marketing: 2-8 weeks
- Offer acceptance to completion: 8-12 weeks
Online estate agents often claim faster sale times due to their efficient processes and wide exposure. However, the actual sale duration can be influenced by factors beyond the agent’s control, such as buyer readiness and conveyancing delays.
To speed up the process, ensure your property is competitively priced, well-presented, and that you respond promptly to enquiries and offers.
Cash buying options
There are many cash-buying companies online that will purchase property for a price below the asking price, usually by 25%. This could be a great option for people who need quick access to cash or are looking to avoid their home being repossessed.
Before deciding on a cash-buying company, it is important to do research on them. Companies House can be used to check their filing history – if it contains ‘registration of charge’ and ‘satisfaction of charge’ entries, they are likely to be legit.
It is worth keeping in mind that the initial valuation may change once the house has been surveyed, so the first price offered may not be the final one.
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- The price we’ll offer is the price that you will receive with no hidden deductions.
- Be careful with ‘cash buyers’ who require a valuation needed for a mortgage or bridging loan.
- These valuations or surveys result in delays and price reductions later on.
- We are cash buyers. There are no surveys.
- We always provide proof of funds with every formal offer issued.
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- No long exclusivity agreement to sign because we are the buyers.
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- We share our solicitor’s details and issue a Memorandum of Sale.
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