I am going to briefly touch on what they are and how they differ.
- High street (Traditional)
Don’t need to explain as these have been around since day dot.. Plus there are plenty of them on your local high streets. Just walk in and pick your home.
The major difference is that online estate agents don’t have physical branches/offices on the high-street, which means you can’t casually stroll into your agent’s local branch. Instead, online agents have a website where their services are sold and managed, they have telephone support just like a call centre.
Why this model?
By being online-agents overheads are drastically reduced, which ultimately means they can offer a much cheaper solution to home-sellers compared to traditional high-street agents.
It also allows them to target the entire home-selling market in the UK, unlike the traditional high-street agent, who are generally limited to the local market.
A hybrid agent is the best of both – an online agent and traditional high-street agent all in one!
A hybrid agent have essentially taken bites out of the online model and bites off the high-street model and mashed it all together like play-doe.
Main difference is that you will be appointed a local agent which will support you until completion.
High-street estate agents typically charge anywhere between 1-3% of the sale price achieved and 90% of their customers come from websites like Rightmove and Zoopla. Online Agents typically charge £500 fixed-fee which is on average £3700 saving.. Ching Ching