The average asking price for a property listed with an online agent is £281,949. This matches closely to the UK average price paid of £278,787.
Bear in mind that the 'mean average' will be skewed upward by very expensive properties. The median price paid, i.e. the 50th percentile, is lower. In England and Wales, it is £235,000, according to the Office for National Statistics.
The average fee you can expect to pay depends heavily what package and services you're looking for. We've collated similar types of packages offered by agents to help you see what you can expect:
|Package Type||Average Price|
|Basic (Listing Only, No Photos)||£229|
|Standard (Includes Listing, Photography)||£557|
|Hybrid (Self-Hosted Viewings)||£803|
|Hybrid (Accompanied Viewings)||£1,168|
Using the lower, median average selling price of £235,000, it's possible to estimate how much you stand to save using an online estate agent.
Traditional high street estate agents usually operate on a commission basis. There is a considerable range of commissions, ranging from about 0.75% to 3%. An independent body's research came across multiple suggested commission averages: 1.3%, 1.5% and 1.8%. All of these exclude VAT of 20%, so the true amount a seller pays is higher than the listed figure. We will use this range of figures, but including VAT, to calculate the savings.
|Online Agent Package Type||0.75% + VAT||1% + VAT||1.25% + VAT||1.5% + VAT||1.75% + VAT||2% + VAT|
|Basic (Listing Only, No Photos) (£229)||£1,886||£2,591||£3,296||£3,991||£4,706||£5,411|
|Standard (Listing, Photography) (£557)||£1,558||£2,263||£2,968||£3,663||£4,378||£5,083|
|Hybrid (Self-Hosted Viewings) (£803)||£1,312||£2,017||£2,722||£3,417||£4,132||£4,837|
|Hybrid (Accompanied Viewings) (£1,168)||£947||£1,652||£2,357||£3,052||£3,767||£4,472|
It is worth bearing in mind that the higher the listing price of the property, the more you stand to save. This means an online agent might save you £15,000 on a million pound property, but conversely, if you are selling a lower-priced property, the savings made from an online estate agent can narrow, and in some rare situations, become negative. For example, 1.25% + VAT commission on an £75,000 property is £1,125, which is not a considerably higher fee than some hybrid estate agents.