Tesco, in partnership with High Street estate agency Spicer haart, are about to launch an online estate agency offering.
Initially, the site will only cover Bristol.
There was a similar site started by Tesco a couple of years ago, albeit more like a property portal for private sellers, but which they closed down before it even got off the ground due to issues over compliance with the Property Misdescriptions Act. And so Tesco will be hoping for a rather longer sell by date this time.
The estate agency blogs are full of chatter from the traditionalists today decrying the entry of this feared advance in property selling that, like eMoov, is based online and thus a threat to the pot plants and drinks fridges of the High Street bods. The Tesco launch will certainly assist in convincing public and industry alike that change is coming down the tracks fast and that it will be to the significant benefit of the consumer, albeit not to the wallets of the old fashionistas in their palatial ‘prominent’ offices.
However, with selling fees from a whopping £999, the Tesco attempt is not exactly priced in line with the ‘Basics’ on their shelves. It’s more Fortnum and Mason in fact. At around only half the fee that traditional estate agents charge, will you taste the difference? Not enough of a difference, we think.
The Tesco product may well remain unsold therefore, bypassed by a public that grasp the internet revolution concept of home selling but also realise that they can get the same thing even cheaper elsewhere.
Estate agency might just be one thing that the might of Tesco does not dominate.
eMoov fees are from £249.00.