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Ash4781

Estate Agents Angry At Tesco Property Website

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http://business.timesonline.co.uk/tol/busi...icle2039766.ece

The most expensive home in and around London is listed as a £351,500,000 two-bedroom flat in East London, while a plot without planning permission in East Sheen is priced at £100,000,000. House-hunters looking for a pad ten times cheaper on tescopropertymarket.com could find solace in a ten-bedroom Hampstead house priced at £10,000,000, which may be more accurately listed.

Has James Rossiter seen the errors that pop up on Rightmove?

Edited by Ash4781

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This is shaping up to be an interesting battle.

It is possible that Tesco lawyers might argue (rightly or wrongly) that this is a competition issue and may indeed request that the UK competition authorities in the form of the Office for Fair Trading and the Competition Commission look at the matter.

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......it is good to see someone,even Tesco, challenge the rediculous fees which Estate Agents charge......they never seem to have much price competition amongst themselves....or have I missed it.......? :rolleyes:

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This is shaping up to be an interesting battle.

It is possible that Tesco lawyers might argue (rightly or wrongly) that this is a competition issue and may indeed request that the UK competition authorities in the form of the Office for Fair Trading and the Competition Commission look at the matter.

http://business.guardian.co.uk/story/0,,2112976,00.html

Any property entrepreneurs on the business council?

Edited by Ash4781

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You swop your masters at your peril!

Tesco are like a huge fishing drag net, destroying everything in their path by leveraging from their core profits. There was a time when anti-trust laws stopped companies doing things like this, but no more I guess; law-makers all have their price nowadays.

Gloat all you like about the demise of the much hated Estate Agent. Once Tesco and Walmart have destroyed everything else your childern wiill enjoy stacking shelves for miniumum wage I am sure. At least they will be able to sell their houses cheaply though....

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You swop your masters at your peril!

Tesco are like a huge fishing drag net, destroying everything in their path by leveraging from their core profits. There was a time when anti-trust laws stopped companies doing things like this, but no more I guess; law-makers all have their price nowadays.

Gloat all you like about the demise of the much hated Estate Agent. Once Tesco and Walmart have destroyed everything else your childern wiill enjoy stacking shelves for miniumum wage I am sure. At least they will be able to sell their houses cheaply though....

don’t be stupid, who are you fooling

price competition is a good thing for the consumer, it is NEVER a bad thing!!

True capitalism without favouritism from government is the perfect system. tesco crapping on the massive profits of EA is good for the consumer!! SIMPLE

but i guess you where one of the fools who protested at miners loosing their jobs to machines! Thinking what everyone would do after that!

Technology makes us more efficient

efficiency makes our lives better and cheaper

competition makes our lives better

and just to note, tesco is not the first online corporation to offer selling your home for a fixed rate, EA where going to die anyway. Tescos entry probably has just bought that day forward 2-3 years.

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You swop your masters at your peril!

Tesco are like a huge fishing drag net, destroying everything in their path by leveraging from their core profits. There was a time when anti-trust laws stopped companies doing things like this, but no more I guess; law-makers all have their price nowadays.

Gloat all you like about the demise of the much hated Estate Agent. Once Tesco and Walmart have destroyed everything else your childern wiill enjoy stacking shelves for miniumum wage I am sure. At least they will be able to sell their houses cheaply though....

Bloddy hell I fell like I have to answer to this again!

There is absolutely NOTHING wrong with one corporation controlling a large percentage of the market as long as it is not a monopoly and there are no barriers erected to further competition.

Tesco had in 2007 a revenue of 46.6billion and a net income of 2.55billion.

That gives them a margin of less than 5.5%

That means that the bread you buy for £1 at tesco, they make a profit of 5p.

Oh noes, greedy old tesco for making 5% profit!!! They will eat your children’s souls run for the hills.

Capitalism in itself is a great system, what sometimes feks it up is greedy corrupt politicians that introduce laws which remove or hinder competition in the market.

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......it is good to see someone,even Tesco, challenge the rediculous fees which Estate Agents charge......they never seem to have much price competition amongst themselves....or have I missed it.......? :rolleyes:

As I've said elsewhere, something has caused EAs in my area to lower their fees (in percentage terms).

Last summer, the EAs I spoke to were charging around 1.25% or 1.5%. This summer, three EAs (including Halifax) all quoted me 1%.

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I will lose little sleep when the average EA gets screwed (as that is precisely what they have apparently been doing to the rest of us for years). If they haven't been screwing us - why are both sellers and buyers so sceptical about the value they offer?

Question is - when does a large percentage of the market become a monopoly or begin to have market distorting effects (eg on suppliers)? Tesco, for example, are not above buying up land and leaving it unused so their competitors can't open stores in the same area. Their sheer size means that in any price war - most competitors are going to lose.

Even Blair once admitted something along the lines of large supermarkets have pretty much got the small producer in a headlock.

Personally I think diversity is key (whether it being in the natural world, philosophies or economic systems) as what suits us now may not in the future (or suit others equally well). And we can't allow something as important as our food chain or price of housing to be in the hands of just a few.

It is precisely because humans can be corrupted that capitalism can be such a poor system. Better to build a system that takes into account human strengths and weaknesses than one that tries to pretend they don't exist.

Edited by greencat

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don’t be stupid, who are you fooling

price competition is a good thing for the consumer, it is NEVER a bad thing!!

True capitalism without favouritism from government is the perfect system. tesco crapping on the massive profits of EA is good for the consumer!! SIMPLE

but i guess you where one of the fools who protested at miners loosing their jobs to machines! Thinking what everyone would do after that!

Technology makes us more efficient

efficiency makes our lives better and cheaper

competition makes our lives better

and just to note, tesco is not the first online corporation to offer selling your home for a fixed rate, EA where going to die anyway. Tescos entry probably has just bought that day forward 2-3 years.

As far as I can see the less restrained capitalism is the more miserable everyone becomes. The UK and USA are two of the least regulated COUNTRIES but also come pretty near the bottom in comparisons of happiness.

As far as I can see all we have gained from unrestrained capitalism is ever longer working hours for the majority with more of the wealth being transferred to fewer and fewer people. For such a wealthy country most of us don't seem to be able to afford somewhere to live.

If unrestrained capitalism is as good as it gets then we might as well give up now. That's about the bleakest thing I have ever heard.

Edited by gordonbrown

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and just to note, tesco is not the first online corporation to offer selling your home for a fixed rate, EA where going to die anyway. Tescos entry probably has just bought that day forward 2-3 years.

I agree. The days of EA shops on the high street may be numbered anyway. I heard that 75% - 80% of all people who are looking for a property now start on line and even the high street EAs advertise everything they have in their shops on line mas well. Most share transactions are now done electronically but 20 years ago it was almost all phone and paper based trading. Why should selling property be any different from share trading?

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Technology makes us more efficient

efficiency makes our lives better and cheaper

competition makes our lives better

Resistance is futile.

borg12.jpg

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Guest X-QUORK
Oh noes, greedy old tesco for making 5% profit!!! They will eat your children’s souls run for the hills.

Poor naive fool. Tesco actually are the spawn of Satan. Have a read of this site for the truth about your kings of capitalism...

Tescopoly...every little hurts

Edited by X-QUORK

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Technology makes us more efficient

efficiency makes our lives better and cheaper

competition makes our lives better

I'm guessing the following is true. You are:

Male

Under 30

No kids

Most people are thicker than you

Working in science or engineering

Think arts is a bit of a waste of time

Did I get any of this right?

Edited by greencat

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I'm guessing the following is true. You are:

Male

Under 30

No kids

Most people are thicker than you

Working in science or engineering

Think arts is a bit of a waste of time

Did I get any of this right?

I score 5/6, what doI win.

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don’t be stupid, who are you fooling

price competition is a good thing for the consumer, it is NEVER a bad thing!!

True capitalism without favouritism from government is the perfect system. tesco crapping on the massive profits of EA is good for the consumer!! SIMPLE

but i guess you where one of the fools who protested at miners loosing their jobs to machines! Thinking what everyone would do after that!

Technology makes us more efficient

efficiency makes our lives better and cheaper

competition makes our lives better

and just to note, tesco is not the first online corporation to offer selling your home for a fixed rate, EA where going to die anyway. Tescos entry probably has just bought that day forward 2-3 years.

Are you autistic or something? People aren't androids.

Have you haver been to a Tesco Express and not felt clinical depression within five minutes and the bland soul-crushing monotony of the place?

If aggressive weeds overun a garden you dig them out.

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Guest Bart of Darkness
Poor naive fool.

Yup, that's cells all right.

I'm guessing the following is true. You are:

Male

Under 30

No kids

Most people are thicker than you

Working in science or engineering

Think arts is a bit of a waste of time

Did I get any of this right?

:lol:

Are you autistic or something?

:lol:

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You swop your masters at your peril!

Tesco are like a huge fishing drag net, destroying everything in their path by leveraging from their core profits. There was a time when anti-trust laws stopped companies doing things like this, but no more I guess; law-makers all have their price nowadays.

Gloat all you like about the demise of the much hated Estate Agent. Once Tesco and Walmart have destroyed everything else your childern wiill enjoy stacking shelves for miniumum wage I am sure. At least they will be able to sell their houses cheaply though....

Tesco's whether you like them or not are providing a service.If they are supplying goods cheaper to the consumer than the cornershop/EA/insurance broker etc then they have a right to do business and succeed.

..however,there does come a point when there isn't enough competition to secure a vibrant market,and designs on market domination need to be kept in check.

tesco's are doing nothing wrong in diversifying.I'd rather see them do this than have every grocery store in the land under the same brand,that's unhealthy.

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Guest grumpy-old-man
You swop your masters at your peril!

Tesco are like a huge fishing drag net, destroying everything in their path by leveraging from their core profits. There was a time when anti-trust laws stopped companies doing things like this, but no more I guess; law-makers all have their price nowadays.

Gloat all you like about the demise of the much hated Estate Agent. Once Tesco and Walmart have destroyed everything else your childern wiill enjoy stacking shelves for miniumum wage I am sure. At least they will be able to sell their houses cheaply though....

agreed!

fair competition does not exist thesedays in the vast majority of business arena's.

ps - I loath EA's as well! <_<

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