Estate Agency Explained
What is 'No Sale - No Fee'?
What is 'No Sale - No Fee'?
No Sale, No Fee or the ‘Traditional Agency’ model as used by Adams, means that your estate agent will get paid only if they successfully sell your property. It may sound like a given but there are more and more ‘DIY’ agency options available to the public, where you pay an up-front fee whether they sell your property or not, and you have to do all the hard work.
The services offered by a DIY agent is not always clear to home movers. Low, up-front costs are tempting, but the services included in those costs or the amount of work a seller should expect to do, may not be so straight forward.
What is a DIY Agent
What is a DIY Agent
We call them DIY agents rather than simply ‘Online’ agents because ‘Traditional Model’ agents such as Adams also offer many of the same online services to their clients such as advertising on different portals, online platforms and online valuation/viewing booking. A DIY agent is effectively a do-it-yourself agency service; you liaise directly with potential buyers to book your appointments, you carry out the viewings and you answer all the questions. In some instances, you will have to go through the sales progression too, which can be tricky if you are in a chain, or if things go wrong.
What is the difference between a High Street agent and a DIY agent?
There are many services available to the public with varying degrees of support. The table shows a guideline and will give you a better idea of what to expect from your estate agent versus a DIY agent. Before you decide to instruct an agent, we advise you do your research and know exactly what is included in their fees and what you would have to pay for.
| Typical High Street Agent | Typical Online/DIY Agent | |
|---|---|---|
| No Sale, No Fee | Yes | X |
| Up-front, flat fee | X | Yes |
| Database of potential buyers your property can be marketed too | Yes | X |
| Realistic valuations based on Local knowledge | Yes | X |
| Marketing: brochures, advertising in print
(local, national newspapers and magazines) |
Yes | X |
| Potential buyers vetted to avoid time wasters or people who can’t afford it | Yes | X |
| Arrange viewings on your behalf | Yes | X |
| Accompanied viewings at no extra cost | Yes | X |
| All negotiations professionally handled on your behalf | Yes | X |
| All offers checked for mortgage requirements and complete chain details | Yes | X |
| Proactive sales progression at no extra cost | Yes | X |
| Professional counter-survey negotiations | Yes | X |
| Local community-minded support and sponsorship | Yes | X |
| Presence on the High Street | Yes | X |
A DIY option may be right for some people, but there can be more to selling your home than it might at first seem. Doing your research is key and can save you money instructing a DIY agency which turns out to be a poor fit for you and your property.