Research finds High Street agents get 5% better price than Online Agents

News at Musker McIntyre | 04/12/2018

Research finds High Street agents get 5% better price than Online Agents

When putting your house on the market, it can be very tempting to opt for a low-cost, online agent. However, although this may save you money initially, in the long run it could end up costing you a significant amount of cash.

Recent research has shown that High Street estate agents consistently achieve better prices for their clients compared to online sellers. With tens of thousands of pounds potentially at stake, risking your property sale on a website might not be worth it.

Getting the right price for your property

According to research from The Advisory, an independent consumer advice group for house sellers, High Street estate agents achieve an average of 5% more than online only agents in around 75% of sales. When you consider that, according to Government figures, the average cost of a property in the UK is now £ 228,384, that’s over £10,000 per transaction.

This means that, although High Street agents generally charge higher fees than online equivalents, you’ll still come out on top at the end of the process. If you’re hoping to achieve the right price for your property, choosing a High Street agent could make all the difference.

Online portals

The main reason for this price discrepancy is that online agents rely heavily on online portals such as Rightmove and Zoopla. And although these portals can be very useful for drumming up interest, they’re less impressive when it comes to actually getting results.

Figures from The Advisory show that, although Rightmove generates around 52% of viewings, the portal only produces 36% of offers and 27% of buyers. And while high street estate agents generate 48% of viewings, they’re responsible for an impressive 64% of offers.

How to choose an estate agent for your property sale

When putting your home on the market, you want to get as much for your property as you can while paying out as little as possible. However, if you opt to use an online only agent, you may well find your property doesn’t get as many viewings as it should and that the offers you receive are lower than you expected.

Instead of relying on online portals, look for an estate agent that has a real-world presence. Having an office on a local high street can make a huge difference when it comes to attracting serious buyers and getting serious offers.

If you’re planning on putting your home on the market and would like to find out more about the process and the services we offer, explore our site or drop into one of our local high street branches today.