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fru-gal

Tepilo Now On Zoopla

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Noticed that quite a few houses are now being sold through Tepilo and featured on Zoopla. I wonder if this will be a game changer (and possibly the slow death of the high street parasite EA?). Lets hope so!

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They are also on Rightmove apparently. I remember reading that Tepilo and other similar low cost "estate agents" thought that the reason they had not taken off before was because they were not allowed to be featured on Rightmove/Zoopla. Obviously if this is no longer the case the status quo should change.

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Wot's Tepilo? Oh right, someone's having another go at commoditising EAs. The house supermarket!

Zoopla announced its flotation price today. You can buy it on the stockmarket from (IIRC) next week, and IMO it compares favourably to Rightmove. And a chunk of the shares have gone to existing members (i.e. EAs), for what that's worth.

You think Tepilo+Zoopla could be the up-and-coming giant of the market? Who will be dominant in a few years?

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Wot's Tepilo? Oh right, someone's having another go at commoditising EAs. The house supermarket!

Zoopla announced its flotation price today. You can buy it on the stockmarket from (IIRC) next week, and IMO it compares favourably to Rightmove. And a chunk of the shares have gone to existing members (i.e. EAs), for what that's worth.

You think Tepilo+Zoopla could be the up-and-coming giant of the market? Who will be dominant in a few years?

You pay £450 for full house selling service on Tepilo and they market your house for you etc etc, in comparison to several thousand pounds (at minimum) via the high street plebs when most of the action now happens because of exposure on Zoopla/Rightmove.

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I remember reading that Tepilo and other similar low cost "estate agents" thought that the reason they had not taken off before was because they were not allowed to be featured on Rightmove/Zoopla.

That opinion isn't really supported by history. Low-cost estate agents come and go, and have been doing so a lot longer than Rightmove/Zoopla have been around. I don't know why they haven't been more successful, nor whether that might change in the online era.

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You pay £450 for full house selling service on Tepilo and they market your house for you etc etc, in comparison to several thousand pounds (at minimum) via the high street plebs when most of the action now happens because of exposure on Zoopla/Rightmove.

Yeah, saw that from a quick google. That kind of thing has been tried before.

Is that £450 an up-front payment? If so it could be great for buyers, as it'll help weed out some of the worst timewasters who have no real intention of selling.

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That opinion isn't really supported by history. Low-cost estate agents come and go, and have been doing so a lot longer than Rightmove/Zoopla have been around. I don't know why they haven't been more successful, nor whether that might change in the online era.

Lets be clear.

Estate agents are in the business of lying. They are paid to lie. While we regard them as scum, thats what theyre paid to do. The bigger scumbags they are, the better. Their job is to convince the buyer s/he will lose out if they dont buy. Fabricate other buyers and offers if need be, lie about the vendors minimum price.

Vendors might be decent people who have trouble lying convincingly. Thus they need an EA to do it for them. An online EA does not do this as far as I am aware. The buyer has direct contact with the vendor, no third party to show them round the property.

Really they should be known as 'Liar Agents'

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Hmmm. Not sure market forces would lead to low-cost EAs winning out over more expensive ones.

A few hundred pounds is small compared to the tens of thousands difference a good EA claims to be able to deliver for a seller. And a buyer will need to be assured that cheap fees don't mean rushed sales and poor quality housing.

EAs persist for the same reason as up-market banks: the stakes are higher than the value of corners to be cut.

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Same goes for Openrent.com - you can sent or sell your property for £50 and they put your advert on all the major sites - rightmove, zoopla etc. They take the phone calls for you and provide you with a online message board to review who called and when you booked in a viewing appointment. They also perform tenant risk checking for £20 each (charge to the tenant) and hold your deposit for you until you put it in a scheme.

I feel the disintermediation of estate agencies is beginning....

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