An estate agent sale is usually the route to the highest price but it is the slowest, and nothing is certain until contracts are exchanged; a cash buyer is the fastest and most predictable but pays less; auctions sit in between, offering speed and commitment in return for higher fees and a less predictable price. Which route suits you depends on how much time you have, how much the price matters, and what state the property is in.
This guide describes the routes in England and Wales. Scotland and Northern Ireland are covered at the end.
How do the routes compare at a glance?
| Estate agent | Cash buyer | Traditional auction | Modern method of auction | |
|---|---|---|---|---|
| Speed | About 5 months on average for a sale (GOV.UK) | Often a few weeks; the OFT found 3 to 4 weeks was typical | Contract formed on the day; balance usually due within 28 days (Which?) | Usually 28 days to exchange, then a further 28 days to complete |
| Price | Open market price, subject to negotiation | Below market value; the OFT found sellers typically gave up 10% to 25% | Set by bidding against a reserve; can be lower than hoped | Set by bidding; the buyer also pays a reservation fee, which may affect bids |
| Certainty | Not binding until exchange; buyers can pull out or cut the price | Not binding until exchange, but no chain or buyer’s mortgage | Binding when the hammer falls, with a deposit paid on the day | Not binding until exchange; the buyer reserves the property first |
| Seller’s fees | Agent fee typically 0.75% to 3.5%; 1.42% average in 2026 (MoneyHelper), plus legal fees | No agent fee; some buyers contribute to legal costs | Entry fee plus commission; MoneyHelper suggests around 2.5% plus legal and advertising | Varies by provider; check what you pay, and what the buyer pays |
| Tends to suit | Homes in good condition, sellers with time | Sellers who need speed or certainty, or whose home lenders will not lend on | Homes needing work, unusual properties, investors’ sales | Sellers wanting a set timetable while still reaching mortgage buyers |
When is an estate agent the better choice?
If your home is mortgageable, in reasonable condition and in an area where homes sell steadily, and you are not under time pressure, an estate agent is likely to leave you with the most money. Agents market your home widely, arrange viewings and negotiate for you. GOV.UK notes that agents are legally obliged to pass on any other offers right up until contracts are exchanged.
The downsides are time and uncertainty. A sale takes months, buyers need mortgages and often have their own sale to complete, and until exchange either side can withdraw. Read the contract carefully. Which? recommends against sole selling rights, suggests a tie-in period ideally of no more than six weeks, and advises not signing a contract with a “ready, willing and able purchaser” clause.
When might a cash buyer make sense?
A cash buyer suits people for whom speed or certainty is worth more than the extra money an open market sale might bring. That could be because of mortgage arrears, the cost of an empty or inherited home, a separation, a job move or a chain that keeps collapsing. It can also suit homes that mortgage lenders will not lend on, where most ordinary buyers cannot proceed.
The cost is the price. MoneyHelper says quick sale companies usually buy for less than you would get from a regular sale. Before accepting, it suggests asking local agents what price would achieve a quick sale, because the reduction needed may be smaller than a quick sale discount. Our guide to how much cash house buyers pay explains how to judge an offer.
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Cash buyers usually offer less than full market value in return for speed and certainty. You are free to turn down any offer.
How does a traditional auction work?
You agree a guide price and a reserve with the auctioneer. MoneyHelper explains that the guide can be set below the open market value to attract bidders, while the reserve is the minimum you will accept and is not disclosed to buyers. If the bidding reaches the reserve, the property sells.
Which? explains that where a binding contract is created when the hammer falls, the buyer pays a 10% deposit on the day and the rest within 28 days. That certainty is the main attraction, and MoneyHelper notes it avoids the risk of gazundering.
The drawbacks, according to Which?, are higher fees, including an entry fee that may be payable even if the property does not sell, less exposure than an agent’s marketing, no certainty of a sale, and prices that can fall short of expectations.
What is the modern method of auction?
The modern method of auction is a conditional auction, usually held online. The winning bidder pays a non-refundable reservation fee and then has a set period, commonly 28 days, to exchange contracts, followed by a further 28 days to complete. Because the contract is not binding when bidding ends, buyers can use a mortgage, but the certainty of a traditional auction is lost.
The Property Ombudsman reported in 2026 that confusion around the modern method of auction has driven a rise in complaints, particularly about reservation fees. Our guide to the modern method of auction explains how it works and what to check.
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What about fees and contracts?
Always compare the net figure you will keep, not the headline price. For an agent sale, that means the price, less commission, legal fees and the running costs of the home while you wait. For a cash sale, it means the offer, less any legal fees the buyer is not covering. For an auction, it means the hammer price, less entry fees, commission and legal costs.
Sell My Property Online never charges homeowners. We introduce you to vetted cash buyers on our panel, and they pay us for the introduction.
What if your home has not sold?
If your home has been on the market for a while, the right next step might be a price review, a different agent or a different route. Our guides to a house that is not selling and how to sell your house fast cover the options.
How does this work in Scotland and Northern Ireland?
In Scotland, homes are often marketed by solicitors as well as estate agents, most sellers need a Home Report before marketing, and a sale becomes binding when missives are concluded. Citizens Advice Scotland lists quick house sale companies alongside agents, solicitors and selling privately as ways to find a buyer, and repeats the OFT’s warnings about some firms. See our guide to selling a house in Scotland.
Northern Ireland’s process is closer to England’s. nidirect explains that the sale is legally binding on exchange of contracts.
If you would like a cash offer to set against your agents’ valuations, you can get offers for my home. It is free and there is no obligation, so you can compare every route before deciding.
Common questions
Is it cheaper to sell to a cash buyer than through an estate agent?
You usually pay less in fees, because there is no agent's commission and some buyers contribute to legal costs. But the sale price is normally well below the open market price, so most sellers end up with less money overall. The trade is speed and certainty in return for a lower price.
Can I try an estate agent first and a cash buyer later?
Yes, but check your agency contract first. Which? advises against sole selling rights, which can let the agent claim a fee even if you find the buyer yourself, and suggests looking for a short tie-in period so you are not stuck if your plans change.
Is an auction sale legally binding?
At a traditional auction, a binding contract is usually formed when the hammer falls and the buyer pays a deposit on the day. The modern method of auction is different: the winning bidder reserves the property, and the sale only becomes binding when contracts are exchanged later.
Do estate agents have to belong to a redress scheme?
Yes. Citizens Advice explains that all estate agents dealing with residential property must belong to a government-approved redress scheme, either The Property Ombudsman or the Property Redress Scheme, so you have somewhere to take a complaint.
Related guides
- The modern method of auction explained Reservation fees, timescales and the criticisms of conditional auctions.
- How much do cash house buyers pay? Why offers are below market value, and how to judge one.
- How to sell your house fast: practical tips for any route Balanced, practical tips for a faster sale by any route.
- House not selling? What to do next Pricing, presentation, changing agent, auction and cash buyers.