2007-07-12

Great Britain | Opinion National Information Investments

UK's leading private sales portal backs TESCO initiative

Great Britain: Properties Direct, the UK’s largest portal for the private sale of properties, has come out in support of TESCO’s private sales initiative and hopes it will encourage public awareness of the options available to sellers.

As TESCO make their move into the property market with the launch of their private sales site it has once again become apparent who wields the sword of power when it comes to selling houses…..and it’s not TESCO.

Initially it was announced that several of the main online sales portals (including Primelocation and Findaproperty) would sign up to TESCO’s initiative but, having thought it over and realized that their main source of income is….you guessed it – estate agents, they have nearly all pulled out.

Private sales have been on the increase in the past couple of years as sellers become increasingly frustrated with the amount they have to pay an agent to sell their property compared to the level of service they get in return. However, most of the big portals won’t list private sales as it upsets estate agents and no-one seems prepared to do this. Properties Direct, the UK’s largest portal for the private sale of properties, has come out in support of TESCO’s initiative and hopes it will encourage public awareness of the options available to sellers.

Jim Craft of Properties Direct says "It was depressing to see that another initiative to avoid the oppressed public having to pay the massive fees of Estate Agents has again been hijacked. Tesco's launch of a Private Property Sale site has been effectively scuttled by the panicked complaints of Estate Agents to the management of the portals initially partnering Tesco.”

“It’s about time the issue of private sales opened up a bit. Selling privately isn’t for everyone, we understand that, but as things stand there isn’t a level playing field. Hopefully a company with the standing of TESCO getting involved will raise awareness.”

UKPRwire - 2007-07-12