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Eddie_George

New Online Estate Agencies Plot A Shake-Up Of Property Market

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EASYJET founder Sir Stelios Haji-Ioannou and former Capita chief executive Paul Pindar have thrown their weight behind two separate online estate agencies in an attempt to shake up the property market.

The Greek-Cypriot billionaire is preparing to launch a new online venture, easyProperty, that aims to challenge traditional estate agents by offering a quicker and cheaper alternative.

According to the website, easyproperty.com will “make property transactions straightforward and aggressively slash estate agency fees”.

Another website called purplebricks is set to launch next month after securing a significant investment from former Capita boss Pindar.

The group plans to undercut agents’ sales commission with a fixed fee and offer a 24-hour service.

http://www.cityam.com/article/1395032502/new-online-estate-agencies-plot-shake-property-market

Good news I say. The industry needs shaking up, or preferably automating.

Edited by Eddie_George

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Good!

I hope he opens easy letting too.

According to The Times, that's what they'll focus on initially.

EasyProperty will focus on the rented sector before moving into sales, it is understood. It will connect landlords and tenants directly, aiming to undercut estate agents’ fees.

http://www.thetimes.co.uk/tto/business/industries/construction-property/article4035434.ece

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After a dozen or so of these sites we can then have a Compare the Housing Market.con And give out blow up dolls to the gullible.

Always thought the net would make the middle man obsolete. Seems we are some way off.

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http://www.cityam.com/article/1395032502/new-online-estate-agencies-plot-shake-property-market

Good news I say. The industry needs shaking up, or preferably automating.

Hmmm. If EasyStelios opens shop, he's got credibility. He may want to change the game, and his track record suggests he's in with a chance :)

Now, how much credibility does this report have?

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Didn't Tesco try, and then, abandon this?

(May be in error)

The impression that I get from a complete outsiders view, is that Rightmove had the market sewn up.

To the extent that their fees skyrocketed.

Opening the door for competition from a credible player who might be able to challenge it.

Edited by DTMark

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book your house 6 months in advance and get it for a fiver.

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Didn't Tesco try, and then, abandon this?

Tesco dabbled. Google dabbled. I think both retreated from the level of policing that would've been required to avoid getting prosecuted under "property misdescriptions", the legislation that stopped estate agents telling the traditional total-porkies of (nowadays) folklore and caricature.

Anyone serious entering the market now knows all about that. So if EasyStelios goes in there, we can expect him to have some plan for dealing with that problem.

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Tesco dabbled. Google dabbled. I think both retreated from the level of policing that would've been required to avoid getting prosecuted under "property misdescriptions", the legislation that stopped estate agents telling the traditional total-porkies of (nowadays) folklore and caricature.

Anyone serious entering the market now knows all about that. So if EasyStelios goes in there, we can expect him to have some plan for dealing with that problem.

I believe that the Property Misdescriptions Act was repealed late last year, so maybe it's time for a second stab.

http://coodes.co.uk/property-misdescriptions-act-repealed-coodes-peter-lamble-explains/

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I believe that the Property Misdescriptions Act was repealed late last year, so maybe it's time for a second stab.

So it was repealed less than a month after Osborne's keynote speech on the economy in September 2013. A keynote speech made to an audience of VIs at 1 Commercial Street, London - a property development building site.

https://

www.gov.uk/government/speeches/chancellor-speech-on-the-economy

and it was repealed in the middle of last year's tory conference.

So much for all the promises (this time since 2007) about changing things so that estate agents behave responsibly?

Edited by billybong

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Great news.Obviously,LA's will moan about how you won't get the personal touch,but when it's as unpleasant as my experience indicates,then that may actually be a selling point.

What's the personal touch, hair gel on your door knob ?

I keep seeing the NW Cheshire letting agents up the road in bigger & bigger tax deductible cars. Today was an 07 Porsche Carrera 911 !

Good riddance to the parasites

Edited by Saving For a Space Ship

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Tesco dabbled. Google dabbled. I think both retreated from the level of policing that would've been required to avoid getting prosecuted under "property misdescriptions", the legislation that stopped estate agents telling the traditional total-porkies of (nowadays) folklore and caricature.

Anyone serious entering the market now knows all about that. So if EasyStelios goes in there, we can expect him to have some plan for dealing with that problem.

A example of good old fashioned brittish regulatory capture.

Edited by goldbug9999

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http://www.cityam.com/article/1395032502/new-online-estate-agencies-plot-shake-property-market

Good news I say. The industry needs shaking up, or preferably automating.

Presumably if they don't have flesh-and-blood-and-hair-gel people on the ground, the vendors will have to be available to show viewers round. Or the landlords is they're doing rentals.

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When we sold up we used an online estate agency and done our own viewings. The total cost was £500 to sell the house.

People are scared to set their own price and do the viewings themselves. They are scared of the reality that their house is not worth what the Express told them it is, therefore they pay somebody to manage their expectations.

Since I have never sold with an agent (only 1 house between 2006 and 2011) I couldn't make a comparison, but I really can't see what value they add to the process.

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When we sold up we used an online estate agency and done our own viewings. The total cost was £500 to sell the house.

People are scared to set their own price and do the viewings themselves. They are scared of the reality that their house is not worth what the Express told them it is, therefore they pay somebody to manage their expectations.

Since I have never sold with an agent (only 1 house between 2006 and 2011) I couldn't make a comparison, but I really can't see what value they add to the process.

I think you've nailed it.

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Presumably if they don't have flesh-and-blood-and-hair-gel people on the ground, the vendors will have to be available to show viewers round. Or the landlords is they're doing rentals.

Unpaid 'Work Trials' teens to show punters around or immigrants who live in the empty properties, 3 to a room on a 24 hr notice to leave basis . :rolleyes:

Edited by Saving For a Space Ship

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