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Sancho Panza

Online agent offering to sell homes for just £99 goes live

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Property Industry Eye 18/7/17

'It may not be free – but a new online agent is offering rates starting at £99 with discounts available for key workers.

99Home went fully live yesterday after a period of test and development.

A fee of £99 is payable in advance on all three packages offered with prices including VAT.

There is nothing more to pay on the cheapest offering.

A further £400 is payable for a ‘combination’ service’ and £900 for a full high street service, both payable on completion.

All three packages, including the £99 offering, include listings on Rightmove and Zoopla.

Discounts of up to 10% are offered to people in the armed forces, NHS, police and fire services.

Yesterday, it had nine sales properties listed on both portals.

99Home shares premises in Willesden, north London, with high street agent Property Hub.'

 

 

This is beginning to look like the mutual throat slitting is starting in earnest

 

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7 hours ago, Sancho Panza said:

Property Industry Eye 18/7/17

'It may not be free – but a new online agent is offering rates starting at £99 with discounts available for key workers.

99Home went fully live yesterday after a period of test and development.

A fee of £99 is payable in advance on all three packages offered with prices including VAT.

There is nothing more to pay on the cheapest offering.

A further £400 is payable for a ‘combination’ service’ and £900 for a full high street service, both payable on completion.

All three packages, including the £99 offering, include listings on Rightmove and Zoopla.

Discounts of up to 10% are offered to people in the armed forces, NHS, police and fire services.

Yesterday, it had nine sales properties listed on both portals.

99Home shares premises in Willesden, north London, with high street agent Property Hub.'

 

 

This is beginning to look like the mutual throat slitting is starting in earnest

 

Im holding back til they offer to pay me to list my house. I cant be that far away.

Hilarious. Watching a load of dummies with a p1ss poor business model make it even more p1ss poor.

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2 hours ago, spyguy said:

Im holding back til they offer to pay me to list my house. I cant be that far away.

Hilarious. Watching a load of dummies with a p1ss poor business model make it even more p1ss poor.

£99 is the absolute rock bottom price. In reality you need to pay £450 up front or £499 to get decent photos a description and a for sale sign. 

It was nice to see that they use the same (blooming inaccurate) valuation tool as others though...

 

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4 hours ago, spyguy said:

Im holding back til they offer to pay me to list my house. I cant be that far away.

Hilarious. Watching a load of dummies with a p1ss poor business model make it even more p1ss poor.

It's going to be an epic race to the bottom.Mutual throat slitting leading to mutual poverty.

If there's there was an industry that was oversexed,overhyped and over here,it's estate agency.

Was looking at Rightmove shares the other day.£3.5 bn market cap on £300 revenue................and people are shorting Morrisons lol.

 

Edited by Sancho Panza

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9 minutes ago, EnglishinWales said:

Why can't they just be put on ebay.

 

One day in the not too distant future,an EA will set up a website with free access for house sellers and they'll make their money with google ads.People laugh at me for saying this.

As I've said,an industry that's ripe for some margin compression.

And after my experiences renting over the years,I'll feel no sympathy at all.

 

Edited by Sancho Panza

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10 minutes ago, EnglishinWales said:

Why can't they just be put on ebay.

 

eBay would love that: they charge a Final Value Fee of 10% :D

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5 minutes ago, LC1 said:

eBay would love that: they charge a Final Value Fee of 10% :D

They'd operate it something like cars, which you can list as a classified add for a flat fee.

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28 minutes ago, Northern Welsh Midlander said:

They'd operate it something like cars, which you can list as a classified add for a flat fee.

I was surprised when I discovered people buy and sell cars on there, but no reason why not, and the same goes for houses. Bring it on.

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1 hour ago, longgone said:

i only pay a £1

I got banned at the beginning of the year on my 2001 vintage account. Fired up a new one and I've got these offers to sell for £1 pretty much monthly, never had a single one on my old account! Was majorly annoyed when I first got banned but it doesn't seem to have affected sales building my feedback back up and the money I've saved in fees is healthy :)

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1 hour ago, Northern Welsh Midlander said:

I got banned at the beginning of the year on my 2001 vintage account. Fired up a new one and I've got these offers to sell for £1 pretty much monthly, never had a single one on my old account! Was majorly annoyed when I first got banned but it doesn't seem to have affected sales building my feedback back up and the money I've saved in fees is healthy :)

same here got banned in 2014, thousands of people got banned for no reason.  i was surprised to see i had sold £59,000 worth of tat over 10 years with good feedback.

new account has sold 20k worth of tat so far , i only list when it is a £1 cant make any money otherwise. 

 

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2 hours ago, LC1 said:

I was surprised when I discovered people buy and sell cars on there, but no reason why not, and the same goes for houses. Bring it on.

There's a site in France called "leboncoin.fr"

Similar to Gumtree in the UK. However, it allows the buying and selling of houses and rentals. All for a minimum price. Cheap compared to EA's.

There's also a property site call "pap.fr" that avoids EA's and allows direct selling/buying of property. Many French use this site when buying/selling. My next door neighbour sold his house using this site about 10yrs back. Cheap as chips and no EA commissions.

What is the legislation holding back similar sites in the UK ?

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19 hours ago, longgone said:

same here got banned in 2014, thousands of people got banned for no reason.  i was surprised to see i had sold £59,000 worth of tat over 10 years with good feedback.

new account has sold 20k worth of tat so far , i only list when it is a £1 cant make any money otherwise. 

 

I got banned for a reason, selling outside of ebay :) I got away with it for 2 years since I really started selling on ebay but they changed their algorithms. Glad to hear the £1 offers continue as it really makes a difference.

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