Estate agents are the first port of call for most people selling a home, but they are not right for everybody particularly if you are seeking a quick, hassle-free sale. Here we compare the pros and cons of our service and the service you’ll get working with a typical estate agent.
What fees are charged?
Estate agents’ fees are one of the biggest costs of moving home. They usually range between 1% and 3% of the total sale price of your property. For example, if your home costs £200,000 and the estate agent charges 2% commission, that equals £4,000.
Our service is completely free to use, we also instruct and pay for solicitors and valuations. If you use an estate agent you are likely to have to cover the cost of conveyancing carried out by a solicitor, this can amount to several thousand pounds.
How long does it take to sell a home?
We can buy your home in as little as seven days, which means you will quickly have funds in your bank account and your mortgage payments will stop. Typically the entire process takes between 14 and 21 days, and we will always agree on a completion date that suits you.
Working with an estate agent it is likely to take around six months from the moment you put your home on the market to completion. This can vary depending on the market at the time, if it is slow moving it could take considerably longer.
Will We Buy Any Home or an estate agent get you the best price for your home?
We are upfront and transparent about the fact that we will pay somewhat less than the market worth of your home. This cost will always be kept private. The lack of solicitor or estate agent fees and the speedy end to your mortgage payments frequently cancel out the savings.
Your home will probably be listed for more money if you use an estate agent. It might sell for this price rapidly in a booming market. To find a buyer, however, the price must frequently be lowered. Agents have been known to entice sellers with an exorbitant price in an effort to win their business.
How likely is a sale to fall through?
We won’t withdraw or modify our offer once we have reached an agreement on a final price, which occurs after we have validated our previous offer with a free in-person valuation. Additionally, since we always pay cash, we are never a link in the frequently broken-down unpredictable chain of transactions.
When you sell your house on the open market, a purchaser is free to renegotiate or withdraw their offer up to exchange without incurring any fees. Changing their minds about who they give loans to is another option for mortgage businesses. This will cause a significant delay and, at worst, the implosion of all the financial transactions if it occurs anywhere in a chain. Around a quarter of home sales fall through each year.
Does your home have to be in good condition?
We will buy a home in any condition. Estate agents do not always take on homes in a poor state of repair, and if they do they can’t guarantee they will find a buyer.
What differentiates us from other home buying companies is that we will also buy homes with cladding issues. Many owners have been left with apartments that are difficult to sell on the open market, or have large repair bills, because their cladding does not meet fire regulations.
Can I get a cash advance?
If we buy your home we can arrange for a cash advance before completion to help you out of a difficult financial situation. An estate agent will not be able to do this.
We can also provide you a permit to occupy. This means that after you sell your house, you can stay there for a predetermined amount of time without paying any rent. We work with lots of people in stressful circumstances and this gives them a bit of breathing space to prepare for their next move.
Are they accredited?
We belong to the National Association of Real Estate Buyers (NAPB). All NAPB members are required to adhere to a strict code of ethics that guarantees their complete openness and honesty throughout a transaction.
For instance, we must make every effort to adhere to your preferred sale dates and our bids should appropriately reflect the value of your property.
Additionally, The Property Ombudsman (TPO) fully regulates us, so our actions are subject to independent review. The TPO also has control over estate agents. Verify that any agent you work with is registered with both them and the National Association of Estate Agents before hiring them (NAEA).
Feature comparison
| We Buy Any Home | Estate Agents | |
|---|---|---|
| Commission on sale | No | Yes |
| Solicitors fees | No | Yes |
| Sales in seven days | Yes | No |
| Part of chain | No | Yes |
| Cash advance | Yes | No |
| Licence to remain | Yes | No |
| Fixed completion date | Yes | No |
| Guaranteed sale | Yes | No |
Choosing who to work with
It’s a huge decision to decide to either sell your house to us or through an estate agency. Your situation and the purpose of the property sale will determine how to proceed. Therefore, it’s crucial to consider each of the previously listed factors.
In summary, we are a good alternative if you want a rapid sale that is as stress-free as possible; however, if you have time to spare and are not under any time constraints, an estate agent would be a better option.
If you’re not sure, we’d be happy to chat to you about the service we offer so please get in touch.
