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Spicerhaart and Tesco launches online estate agency

by: Mortgage Solutions
  • 05/03/2010
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Spicerhaart and Tesco launches online estate agency
Spicerhaart and Tesco have launched iSold.com, a new internet-based estate agency service, which will market properties for £999.

iSold.com is targeted at online shoppers and internet users and is not expected to compete head on with Spicerhaart’s existing high quality traditional estate agencies.

Customers will pay £299 upfront for marketing services and the additional £700 when iSold.com has successfully sold the property. They can also buy a Home Information Pack, conveyancing services, a survey and arrange their mortgage.

The £999 fee includes a valuation and home consultation, advertising on all the major property portals, access to the iSold.com website and a branch team available along with support throughout the sale process.

iSold.com clients’ properties will be advertised on all the major property portals, including: Rightmove, Primelocation and FindaProperty, where four out of five buyers currently start their search for a property.

The new website said it can save up to £3,700 on estate agency fees for a £200,000 property and up to £8,400 on a £400,000 home, based on a 2% commission rate.

Steve Shore, spokesman for iSold.com, said: “We are providing a service that offers early adopters an internet-style alternative to mainstream estate agency by offering online customers a limited menu of fixed price services. We put buyers and sellers in control of the whole moving process by allowing them to log into their own area of the website, arrange viewings, email each other and view a handy calendar for keeping track of appointments.”

Tesco’s launched a previous property portal in July 2007 and listed details of more than 300,000 homes for sale.

The majority of the properties were supplied by the fish4homes.com website, though the agreement was soon terminated and was rumoured to have been affected with legal challenges.

However, the recent Office of Fair Trading (OFT) report on the home buying and selling process recommended that regulations should be relaxed to allow increased competition from businesses such as Tesco to enter the marketplace.

 

 

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