Claim - self-employed firms sell and exchange fastest and at highest prices

Self-employed agencies are currently outperforming other agency types when it comes to price secured, according to new research from data firm TwentyEA.

The research also found that self-employed agencies – which have become a growing phenomenon in recent years, but still remain relatively niche – are selling and exchanging most quickly.

The data revealed that self-employed agencies are selling homes on average seven days faster than the industry at large, at 22.77 days compared to 27.89. eXp UK led the charge at 20.7 days.

The firm also recorded the fastest average time to exchange of all the self-employed agencies, at 144.5 days. Overall, the self-employed average was 157.93, nearly a whole month faster than the rest of the UK at 183.45 days.

What’s more, the data suggested that self-employed agencies outperform the rest of the UK when it comes to getting their clients the best price for their property. Brands using this model, on average, secure 101.5% of the original asking price, the research found. Meanwhile, the rest of the UK’s agencies on average secure 99.6%.

The data examined the 12 largest estate agencies in the UK that operate using the self-employed model, with eXp UK currently leading the way for market share amongst the country’s self-employed agencies. Just over a quarter (25.2%) of the UK’s self-employed agents are in the brand’s hands.

“Since its inception in the UK, I’ve always been confident that the self-employed, agent-centric model is the best way for an estate agent to work in this country – this data simply emphasises the merits of a consumer using a self-employed agent to sell their house,” Adam Day, international expansion leader for eXp UK and the former founder of Hatched, said.

“We focus on recruiting only the highest quality agents who have the autonomy to support their clients every step of the way. Possessing this business ethos ensures our agents are able to have full control over their working schedule, earnings and overall job satisfaction, which in turn gives them the perfect platform to provide their clients with a first-rate service.”

Despite its growth in recent years, which was further accelerated by the pandemic, the self-employed model continues to divide opinion in the industry.

Arguably the most high-profile proponent of the model, Purplebricks, moved fully away from it earlier this year, but eXp – amongst others – is trying to make it more mainstream, bringing the UK more in line with the US and Australia where such a model is far more ingrained.