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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