The two most common ways UK homeowners sell are through an estate agent on the open market, or directly to a cash-buying company. They produce very different outcomes in terms of price, timeline, effort, and certainty. This guide runs the honest comparison — including the maths most articles leave out.
Quick comparison
| Estate agent | Cash buyer | |
|---|---|---|
| Time to completion | 12–18 weeks typical | 7–14 days |
| Headline price | 100% market value | 80–92% market value |
| Fees to seller | 1–2.5% + VAT agent, £800–£1,500 legal | £0 |
| Fall-through risk | ~25% | ~0% once exchanged |
| Viewings | Typically 5–25 | One, if needed |
| Marketing exposure | Public listings | None |
Timeline comparison
Estate agent (typical):
- Week 1–2: sign agreement, photos, listing live.
- Week 2–6: viewings, offers, negotiation.
- Week 6–16: buyer’s mortgage, surveys, conveyancing.
- Week 12–18: completion (in straightforward cases).
Cash buyer (typical):
- Day 1: enquiry, written offer within 24 hours.
- Day 1–2: offer accepted, solicitors instructed.
- Day 2–7: title checks, enquiries, contract drafting.
- Day 7–14: exchange and completion (same day or a few days apart).
Price comparison (£320,000 illustrative property)
This is where most comparisons oversimplify. Let’s run both routes properly.
Estate agent route
- Sale price: £320,000 (full market)
- Agent commission (1.5% + VAT): −£5,760
- Legal fees: −£1,200
- Carrying costs while marketing (mortgage interest, council tax, insurance) over 4 months @ £850/month: −£3,400
- EPC (if needed): −£100
- Estimated staging / minor repairs pre-listing: −£500
Net proceeds: £309,040 (96.6% of list price) — assuming the sale doesn’t fall through.
Cash buyer route
- Offer: £320,000 × 88% = £281,600
- Agent commission: £0
- Legal fees: £0 (we cover both sides)
- Carrying costs: £0 (completed in 14 days)
- Staging / repairs: £0
Net proceeds: £281,600 (88% of market value)
The real-world gap
Headline price difference: £38,400. After carrying costs, fees, and the cash-sale’s £0-fee advantage, the real net gap is £27,440 (about 8.5% of market value).
Factor in fall-through risk. 25% of open-market sales collapse. If yours collapses, you restart the clock — typically another 4 months of carrying costs (£3,400) and a repeat of some legal work (£500–£800). The expected-value open-market net is closer to £307,000, narrowing the gap further.
When estate agent is the right choice
- You have 3+ months and can absorb carrying costs while marketing.
- The property is standard and mortgageable — a well-kept freehold house in a normal postcode.
- Top price matters more than timeline.
- You’re not under financial or emotional pressure to sell.
- You want to test the market — the open market might produce a surprisingly high offer.
When cash buyer is the right choice
- You need certainty on date — relocation, divorce, probate distribution, chain break.
- The property is unusual — unmortgageable, short lease, structural issues, tenanted, probate.
- Carrying costs are material — expensive mortgage, expensive council tax empty-property premium, two homes simultaneously.
- You’ve already tried the open market and it hasn’t worked.
- You value privacy — no signs, no listings, no viewings.
What cash buyers don’t tell you
Honest sector observations:
- Not every cash-buying firm is a principal buyer. Many are lead-generators or brokers who sell your details on. Verify the entity you’re dealing with is the one that will complete (check Companies House).
- The “offer reduced before exchange” problem. Some firms offer high, then reduce days before exchange. A legitimate buyer commits in writing and doesn’t reduce — see our FAQ on this.
- Not all “cash” is immediate. A firm waiting to sell investments or secure bridging finance is not a true cash buyer.
What estate agents don’t tell you
- Commission is often negotiable. Especially for higher-value property or in slower markets.
- “Sole agency” vs “multiple agency” affects commission and marketing — understand what you’re signing.
- Agents earn their commission at completion, not offer. Your interests are aligned only once an offer is on the table — up to that point the agent’s incentive is any sale, not the best sale for you.
- Listing price matters a lot. A property priced 10% too high can take twice as long to sell, costing far more in carrying costs than a realistic initial price would have done.
Related reading
- Cash buyer vs auction
- Three-way comparison: cash, agent, auction
- Online estate agent vs cash buyer
- How to sell a house fast in the UK
- Or try our cash-offer vs estate-agent calculator to run your own numbers.
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