High street estate agents remain ahead of online usurpers as services become more diverse

Not too long ago, if you wanted to sell a house, you’d almost definitely need to go to a high street estate agent. However, with the rise of online estate agents, this is no longer the case.

When they began popping up, online agents were expected to sweep the floor. Despite this, physical estate agents continue to reign supreme. Whilst there's an extensive range of online options, it seems people still prefer the high street.

However, physical and online estate agents aren’t the only game in town now, with services having become even more diverse and accessible. We explore all of the options below, and discuss why high street may have remained on top.

High Street Estate Agents Reign Over Online Agents

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It wasn’t long ago that the beginning of the end for high street estate agents was foretold. The rise of several online estate agents and a tsunami of investment in the sector showed that big change was coming. However, as most people who have sold a house over the last decade will know, though, the end is not yet nigh.

The biggest difference between online estate agents and high street agents is the personal touch. Many people still prefer someone to meet a person who will be involved in selling their home. This is opposed to listing on a website and working through its steps around a sale. The choice could make a big difference on the final price.

Online agents are said to slightly exceed the national average of sale price to asking price. The online average sale price is just under 95.9% of the listing. However, high street agents tend to do better. The average selling price with high street agents is closer to 100.5%. 

Yet, the two aren’t exclusive entities. Listing online does list a house online. However, retail estate agents have also list online. The vast majority of these high street sellers will list a property on a popular online site. They will also sell from their own store and within their brand’s network.

The Other Online Option on the Rise

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While the traditional house sellers and their online counterpart tussle, another option has established itself online. It used to be that sellers would need to get extremely lucky to encounter a cash buyer. These buyers would have the funds ready, be without a chain, and could quickly complete a sale. Now, they can be found much, much easier.

With these services, if someone was thinking 'I want to sell my house for cash' and do so quickly, the option is just a click away. The process sees the would-be seller enter their postcode and a few more details. Next, they get a free cash offer in minutes. If agreed, the UK-based cash buyer will go through the motions and send funds in as few as seven days.

Importantly, the cash buyer offers a service estate agents struggle with. Cash buyers offer a guaranteed sale on any property. Naturally, it’s tough for retail estate agents to shift a broken and bruised property. So, a seller can instead turn to a swift sale with a cash house buyer instead.

High street estate agents aren’t going anywhere. Those who do want to sell quicker, however, can now turn to a different online option.