Home owners save more than £3,000 by selling online, says Which? study

Home owners can save more than £3,000 by selling their property online, according to new research.

By Myra Butterworth, Personal Finance Correspondent, Daily Telegraph
Published: 7:45AM BST 19 Aug 2009

Selling online means home owners can avoid using traditional high street estate agents that typically charge between 1 per cent and 3 per cent of the sale price.

The study by consumer group which? said fees charged by online agents tend to much lower – from as little as 0.5 per cent.

However, it warned to watch out for additional costs, such as for sale signs, which can add £30 onto your bill.

The study compared three different online estate agents marketing a home with an asking price of £200,000 and the potential savings made versus an average high-street agent charging a commission fee of 1.5 per cent.

But while some home owners may decide to bypass the middle man and sell independently, Which? Money warned that this option can cost time and money to market the property.

Sarah Beeny, property television presenter and founder of online property service Tepilo.com, said: “Times are moving on – we don’t need to pay for estate agents shop fronts, mini bars, telephone systems and branded cars – if you would rather keep the money and spend it on a holiday in Seychelles or a new kitchen when you move into your new home, then pop your house online.

“Now in 2009 most people wanting to buy a house will go online pop into Google ‘houses to buy near Northampton’ and come up with a modern equivalent of those high streets. One click away and you are on an online portal and you can check out what is available, for how much and download the details.”

turtlehomes.co.uk will market your home for just £199+VAT and £399+VAT on completion.

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