Tuesday, Jul 11, 2006

When your grocer turns Estate Agent

In the News: Asda moves into property market

Supermarket chain Asda yesterday made its first move into the property market, launching a new service that will allow shoppers to buy and sell their homes from within its stores.

Posted by miniftse @ 08:55 AM (614 views)
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11 Comments

1. sebastian said...

Woo! End of the EA? We can hope...

Tuesday, July 11, 2006 09:58AM Report Comment
 

2. Kpjcomp said...

Hi Sebastian,

Not sure the end of EA's is a good thing, but hopefully ASDA will create more competition. Also 1% is still a lot really for not doing a lot. 1.5%-2.5% not sure where those figures come from, we sold ours recently for 0.9%, most estate agents around here are about the 1% mark. And by the way I'm from the north-east, so ASDA you might need to put your percentage down a little bit more to be a real contender.

Tuesday, July 11, 2006 11:28AM Report Comment
 

3. inbreda said...

"Not sure the end of EAs is a good thing"

?!?!?!?!?!?!?!?!?!?!?!

What planet do you come from? You're not about to claim that EAs are highly trained professionals without whom the housing market would be an unstable boom/bust mess of a market, and they bring reality and control to what would otherwise be a treacherous place to go.

I don't support Asda because they are part of WalMart, but I would rather they did the job rather than EAs.

Tuesday, July 11, 2006 01:35PM Report Comment
 

4. Sloth said...

"I don't support Asda because they are part of WalMart"

what a silly thing to say.

Tuesday, July 11, 2006 01:45PM Report Comment
 

5. kpjcomp said...

Hi Inbreda,

I think maybe you've missed my point here.. :)

So if ASDA was the only place to sell your house, and EA's have all but died. Do you think it's going to be cheaper, do you really think less competition will put prices down?. ASDA are still asking for 1%, like I said when I sold my house is was 0.9% from an EA, this is most likely because around here we have lots of EA's, so we need more EA's not less.

So in a nutshell, hopefully ASDA coming into the market is a good thing, not because it will kill EA's, but because it will create more competition.

>> You're not about to claim that EAs are highly trained professionals

I'm not really sure what that comment is meant prove, they sell houses that's there job, I would'nt care if they where a set of trained monkeys from the planet Zog. House only sell for what people are prepared to pay for anyway, not what EA's say they should sell for. If you really think EA's are responsible for the current housing market, I think your given them too much credit..

Tuesday, July 11, 2006 03:12PM Report Comment
 

6. inbreda said...

Sloth - why is that silly? Wal mart are a multinational that refuse to recognise trade unions and fund the republican party, so I don't shop there.

I buy free trade goods whenever I can.

What's wrong with having morals?

kpjcomp - if asda do this, then tesco will follow, and the price will plummet. This should have been the result of the internet, as it is an ideal and cheap platform for introducing sellers to buyers, but we all saw what the EAs did with Rightmove. Asda could break their cartel. And I hope it does. I hope all EAs are reduced to an introduction service. It won't leave Asda as a monopoly because Tesco/Sainsbury/Morrisons etc would all follow.

Tuesday, July 11, 2006 03:45PM Report Comment
 

7. The Capitalist said...

It will soon dawn on an entrepreneur (Branson?) with a big brand that the internet will surely replace EAs just as it did with other 'middlemen' (holiday firms, finance etc). Imagine: the vendor takes some pictures, writes a description and puts a price on their home for sale then uploads it all on a website, lets say www.readinghomesdirect.co.uk for about 250. arrange your own viewings and negotiate yourself, just like selling your car...

Do "home private sales" in google and see what happens there are lots out there and consolidation will result in a dominant player just as Rightmove is today....high street EAs will be a thing of the past. Some forward thinking EAs are already virtual and charging 1000 flat fee. The free market - wonderful!!

Tuesday, July 11, 2006 06:37PM Report Comment
 

8. kpjcomp said...

Hi Inbreda,

Yes, of course others will follow. But how is that any different to the current batch of EA's? Do you not think the same will happen?
I'm still not sure why ASDA is better than EA's. When ASDA/TESCO's etc started doing insurance, savings, clothing etc., did it really make any difference?

What is it that you actually hate about EA's anyway?. You go on about morals and ASDA but yet you want to put more coppa's into there pocket, and wipe out thousands of EA's.

Whatever EA's charge, is because we let them. We accept there rates and charges, the only way charges are likely to drop is if we push for it. Don't accept silly 2.5% charges, shop arround, look at the competition rates, play them against each other. etc. When we sold we shopped arround and got the 0.9%, I'm sure we could have done better if we tried.

If you hate EA's because you think they have caused the bubble, then maybe it's you who is claiming that there highly trained professionals, who are so good at what they do they can make house prices rise by more than 200%.

Tuesday, July 11, 2006 06:39PM Report Comment
 

9. tyrellcorporation said...

Jees!!! Inbreeded you'll want everyone driving around in Trabants next!!!

Tuesday, July 11, 2006 07:38PM Report Comment
 

10. gruppenfuhrer said...

Tyrell, you say that like it's a bad thing.

Tuesday, July 11, 2006 09:13PM Report Comment
 

11. inbreda said...

kpjcomp:

not putting any coppas in Asdas pockets - like I said - I won't shop there.

I don't think EAs caused the bubble. Jumped on the bandwagon, yes, but caused it, no.

The reason I dislike EAs is because they THINK they are a highly trained bunch, who in actual fact charge huge amounts for doing very little. The reason why I think it would be different if Asda jumped in is exactly because the other supermarkets/large brands would follow. This would reduce the price and service to the levels they really should be but EAs will never let happen. Like I've tried to point out already, Rightmove was the brightest thing EAs have done. They've taken a platform that could have potentially shown them for the rip off they are and commandeerd it. Big brands would put a stop to this.

Don't get me wrong - I dislike large faceless brands. But in the case of EAs, I make the exception.

Wednesday, July 12, 2006 09:15AM Report Comment
 

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