High Street Agents Vs Online Agents

What is the difference between High Street and Online or Hybrid Agents? We have pulled together a comprehensive guide below to help you understand the general differences.

Operational set-up – infrastructure

High Street Agents

High Street branch office with window displays to market your property for sale
Can facilitate walk-in enquiries from interested buyers in the local area

Online or Hybrid Agents

Web based only – no High Street branch presence
New buyer enquiries are typically handled at a central call centre at head office

Opening hours and accompanied viewings

High Street Agents

Opening hours usually 9am to 5pm week days with some part days on Saturdays and possibly Sundays
Accompanied viewings availability typically follow the opening hours of the branch
Typically accompanied viewings are included as part of the overall fee

Online or Hybrid Agents

Telephone support, available 7 days a week 24/7
Accompanied viewings can typically be arranged 7 days a week 24/7 (within reason)
Typically accompanied viewings are an additional cost to the advertised selling fee
Remember to ask if accompanied viewings are an additional cost at your valuation appointment

Staff

High Street Agents

Provide local knowledge in the postcode area (e.g. WA14) where their branch is situated
Typically employed directly by the estate agent and remunerated on a salary and bonus structure dependent upon branch performance
Typically, are more local to the area and in theory should find it easier to arrange valuations and accompanied viewings

Online or Hybrid Agents

Typically provide relatively local knowledge working remotely covering multiple postcode districts (e.g. WA13, WA14, WA15, WA16)
Typically, self-employed or franchisees
Typically remunerated upon listing a property for sale rather than on completion of the sale
Typically have to travel further than local High Street Agents to cover their territory when performing valuations and accompanied viewings

Marketing for your property

High Street Agents

Advertise your property on all major property portals where most buyers start their search including: Rightmove, Zoopla, On the Market and their own websites
Some advertise properties for sale in the local print media

Online or Hybrid Agents

Advertise your property on all major property portals where most buyers start their search including: Rightmove, Zoopla, On the Market and their own websites

Service levels

High Street Agents

Pre and post-sale administrative support generally provided by your local agent in branch

Online or Hybrid Agents

Most Online or “Hybrid” agents typically give you more control and visibility over the sales process via your own portal login with post sale support provided from head office

Additional Services provided – Conveyancing

High Street Agents

Typically promote their preferred legal partner but give you the freedom to instruct your own solicitor or conveyancer

Online or Hybrid Agents

Typically promote their preferred legal partner
Some have specific tie in / penalty clauses to force you to use their legal partner
Remember to confirm if you will be tied into using the agent’s legal services when you instruct them to sell your home

Additional Services provided – Mortgages

High Street Agents

Typically promote their preferred mortgage partner
Some have Mortgage Advisers located at branch offices with appointments taking place in the branch

Online or Hybrid Agents

Typically promote their preferred mortgage partner
Mortgage appointments and enquiries typically take place remotely over the phone

Valuation appointments

High Street Agents

Almost all offer a free valuation service
Typically incentivised to get the highest price possible for your home to maximise their commission (assuming % fee structure)
Beware over valuation (your property may never sell and a property that has to be reduced sends the wrong messages to buyers)

Online or Hybrid Agents

Almost all offer a free valuation service
Typically incentivised to get your property on the market and sell fast (assuming a paid per listing structure)
Beware under valuation (you may get lots of offers but don’t sell yourself short unless you want a quick sale)

Valuation setting is often a two-way discussion between you and the agent
The list price of your property is often dependent on the time you have to sell
If you need to move fast you may want to lower the valuation to encourage a quick sale
If you are in no rush and want to maximise value, you may prefer to hold out for a higher price
We would always recommend 3 agents to value your home to ensure competitive tension between agents ensuring you get the most realistic valuation

Fees

High Street Agents

The cost of running a High Street branch and providing a local service with salaried staff typically results in higher fees compared to online agents
Typically charge fees as a percentage of the sold price contingent upon selling you home
Fees can range from 0.75% to 3% of the eventual sale price
Fees can typically be negotiated if you have a number of top performing agents competing to win your business

Online or Hybrid Agents

By centralising costs at head office and investing in technology to give you more responsibility and control over the sale process and with self-employed agents working remotely, Online or Hybrid Agents typically charge lower fees compared to High Street Agents
Typically charge fixed fees regardless of the eventual sold price
Some require you to pay the fixed fee up front or on successful sale of your property
Some require you to pay the fixed fee regardless of whether you sell your home once the marketing period has expired
Online or Hybrid agent fees are typically non-negotiable
Remember to confirm how long the marketing period is so you know when you might be liable for the fee

Make sure you request the fee in £ sterling inclusive of VAT including the cost of any additional services you are required to take with that agent (Conveyancing services for example)
We would always recommend 3 agents to provide fee proposals to ensure competitive tension between agents ensuring you get the best possible fee