The Truth About No Sale No Fee Guarantees
The Fear of Losing Money
Paying a thousand pounds upfront is scary. If the house sits on the market for six months and you decide to withdraw, that money is gone. Online agents know this fear. So they offer a solution: pay on completion.
Opting for a no sale no fee package with an online agent typically costs at least £500 more than their standard upfront package.
When you choose to pay later, the agent takes on the risk. If you do not sell, they do not get paid. To balance their books across all their clients, they charge you a massive premium for success. You are essentially subsidizing the people whose houses did not sell.
Always read the withdrawal clauses. Some pay on completion contracts charge a penalty fee if you decide to take your house off the market.
There is a third way. Instead of high upfront fees or massive pay on completion premiums, consider a low monthly subscription. You only pay for the time you need. If you sell fast, you save huge amounts of money. If you decide not to sell, you just cancel the subscription.