When it comes to selling your house, the ways in which you can do it appear to be endless. There are cash buyers, auction houses, high street estate agents, online estate agents and even hybrid estate agents. But exactly what is a hybrid estate agent?
In this blog we will be looking at what a ‘hybrid’ estate agent is, how they compare to online and high street estate agents, and look at whether they are the right choice for you.
Looking for a quick answer? Check out our interactive menu below!
- What is a hybrid estate agent?
- Hybrid estate agent vs online estate agent
- Hybrid estate agent’s vs high street agents
- Pros and cons of hybrid estate agents
- Who are some of the main hybrid agents?
- How to compare hybrid agents
- Should you sell your property using a hybrid estate agent?
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What is a hybrid estate agent?
A hybrid agent is a middleman in the world of estate agencies. Providing the best of both worlds, a hybrid falls between traditional high street agents and online agents.
There is no set definition of a hybrid estate agent, some high-street agents claim to be a hybrid agency as they have websites, and some online agents claim to be as they offer the exact same service but without a physical office.
Both definitions can be argued as correct. As long as the local agent has a competent enough online presence to accept online valuations and viewings as well as options to list a property for sale online then there is no reason why they shouldn’t be classed as hybrid.
Equally so, if an online agent can offer everything a high-street agent but at a lower cost as they do not have an office, then they can also be considered as hybrid.
Hybrid estate agent vs online estate agent
While online and hybrid estate agents do the same job, there are some similarities and differences between the two types of agents. Below are some of the most prominent similarities and differences:
- Much like an online agent, your hybrid agent will often offer a ‘no sale, no fee’ package.
- Another similarity is they will come in at a roughly similar price to each other as both are cheaper than selling through a traditional agent.
- One of the main differences between an online agent and a hybrid agent is that a hybrid agent will use a local property expert to provide your property valuation.
- They will offer you a much more personal service than their purely online-based counterparts.
- They will help to take the stress out of the sale by hosting and arranging viewings for you, unlike online agents.
Hybrid estate agent’s vs high street agents
Much like a high-street agent, hybrid agents will typically operate in a very similar manner. Below are some of the similarities between the two types of agencies:
- The main similarity between the two types of agencies is that they both offer that estate agency experience. From start to finish both hybrids and high-street estate agents will undertake all of the work in your house sale, taking the pressure off of you.
However, whilst they perform the same job, there are still key differences between the two:
- When it comes to a truly in-depth knowledge of the local area, the high street has hybrid beat. Whilst they will have a better knowledge than online agents, high-street agents live and breathe property in that area meaning that they will have an edge on their competitors.
- Another difference between the two is that high-street agents will have an in-person office for their customers to visit and discuss their sales. Hybrid agents often do not have physical offices and operate purely through the internet and calls.
- The final difference between the two is the price, with hybrid agents often being a much cheaper alternative to high street agents as they provide the quality without the price.
Pros and cons of hybrid estate agents
As with any house-selling decision there are pros and cons to selling through a hybrid agent. Below are some of the main factors why someone may or may not want to use a hybrid agent:
- Easy access -Thanks to the internet, it has now never been easier to get in touch with your estate agents. As hybrid agents operate both online and in person, it means that discussing your house sale has never been easier. They are also a lot easier to sign up with compared to your traditional high street agents.
- Contact -Another advantage to selling through a hybrid estate agent is that they are much easier to contact as they are not only in person but are also based online. Being based online means they are often open later and have more staff, incredibly useful should you work a 9 to 5 or work unusual hours.
- Affordability Another reason that people will often sell through a hybrid estate agent is that they tend to be cheaper than your high street agents. This makes them an economical choice for many homeowners looking to sell.
- Knowledge Hybrid agents will often use local experts to value their properties. This gives them an edge on online agents who do not provide these services and instead use property portals to provide their valuation.
- Service Online estate agents may not necessarily provide you with the full service if you sell through them. Often elements of your house sale such as marketing or negotiation may be left for you to do. When you sell through a hybrid estate agency they will undertake all aspects of the sale, much like a high-street agency would.
- No Office – The reason that hybrid estate agency fees are much cheaper than high-street agencies is in part due to their lack of offices. The inability to be able to speak to someone face-to-face is often a deal breaker for some homeowners and a reason why they will not sell through a hybrid agency.
- Less Personal – Whilst compared to online agencies hybrid agencies offers a personal service, for a lot of people looking to sell their homes, it is not personal enough. Having their house sold entirely online is a process new to a lot of homeowners and is a reason that many would turn in favour of a high street agent.
Who are some of the main hybrid agents?
Whilst hybrid agents are a fairly new phenomenon, only cropping up in the last 10 years or so, there is no doubt that you are familiar with many of the most popular ones. Below we have looked at some of the most popular hybrid agents in the UK and given you an overview of how they work.
Strike is a popular choice for homeowners looking to sell using a hybrid agency as they are one of the most cost-effective options on the market. When you sell with strike not only do you get a listing on Zoopla for free, but you also do not have to pay any additional fees. Strike makes its money through add-ons to the service they provide and through referring buyers and sellers to solicitors. Much like a traditional estate agent, strike will negotiate the price on your behalf however if you want someone to conduct your house viewings for you, you will need to pay extra.
Yopa was one of the first hybrid agents on the scene and include an open-ended pricing structure. This means that you have two choices when it comes to fees, you can either pay upfront or once your property has been sold. However, it is worth keeping in mind that they are one of the more costly hybrid agents on the market, especially if you have a London postcode. London postcodes incur the heftiest selling fee, even if you sell with a ‘no sale, no fee’ option.
Much like Strike, you will need to pay extra for hosted viewings with Yopa, however, a ‘for sale’ board is included in your price.
Emoov is a hybrid agency that does not offer in-person valuations of your property. This means that instead it will be conducted over the phone and a price will be based on sales data and local market trends. If you decide to sell with a ‘no sale, no fee’ option the price you will pay upfront is small, however this is because you will be required to pay a upfront fee when you sign up and another fee once your house is sold.
How to compare hybrid agents
If you have decided that selling through a hybrid estate agent is for you then your next step will be to comb your way through the numerous hybrid agents available. Whilst this can seem like an overwhelming task, there are subtle differences to look out for that will help to make that list shorter.
For example, some agencies may only offer a limited number of viewings that they would host for you, or some may make their service cheaper if you agree to use their conveyancing team. All of these catches are things to considering when choosing the best hybrid agent for you.
The best method for comparing hybrid agents is to decide which elements of a hybrid service are most important to you and filter out your perspective agents from there.
Should you sell your property using a hybrid estate agent?
When it comes to selling your property, there is no right or wrong answer. It all depends upon your own personal circumstances and which option works best for you! It is important to weigh up the pros and cons of selling through a hybrid agent to decide if it is the right choice for you and then look through the reviews carefully and compare the different agents out there.
But if selling through a hybrid agent isn’t for you then not to worry. There are still plenty of options out there, from high street, to online, cash buyers, auction, and even selling your property yourself!
This covers everything you need to know about hybrid agents. If you have any questions, queries, or insight into the subject, please feel free to get in touch!
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