The new entrant into the property portal market which bans estate agents but accepts listings from developers and private sellers was said yesterday by the Mail on Sunday to be launching this week.
Called iProperty, it is the brainchild of ex-Swinton Insurance boss Brian Blake and his business partner John Candia.
However, we have a severe case of deja vu, having featured the launch on Eye almost a month ago, pointing out that the site is being backed by the NHBC.
Furthermore, in a previous existence, we covered the launch of the iPropertyCompany two years ago, when the pair announced it in July 2012.
Barratt Homes has uploaded 2,500 properties on to the site, with 1,200 coming from Taylor Wimpey and 2,000 from Persimmon.
The site is free for private sellers to use, with the site being monetised through services such as mortgage broking, conveyancing, photographers and For Sale signs.
Blake told the Mail: “In Canada, 30% of homes are sold by the owners, rather than going through estate agents. The internet has enabled people to cut out the middleman.
“I believe that in future people will say to their estate agents: ‘If you sell my property, then you get the commission, but if I sell it myself, you get nothing.’
“It’s really important for people to be able to sell their homes free of charge.”
The question is, will Blake succeed where so many have failed before? What will it do for the relationship between developers and estate agents? And how many more times will the launch be announced?
https://www.propertyindustryeye.com/portal-bans-agents-welcomed-builders/
Comments (8)
“I believe that in future people will say to their estate agents: ‘If you sell my property, then you get the commission, but if I sell it myself, you get nothing.’
Don't they say this already? How many vendors have a neighbour, Great Aunt Dorothy or the friend of the dustman's niece that they claim is 'seriously interested' when we first attend a valuation. I don't know about everyone else but we simply say 'fine, they'll be discounted from our marketing campaign as you've alerted us and good on you if they buy it. But just in case they don't come up with the goods, shall we press on with the rest of the market'
To suggest that it's an aspirational position is simply broadcasting your naivety for all to see.
The site has few listings and is missing a massive trick 🙂
Listings also have very little info that isnt good for SEO. There are many reasons why this site should fail over why it should do Okay. Free to list isnt a way to justify a portal model anymore. Also FSBO info could be really misleading if no one is checking accuracy.
As a previous owner of one of the original for sale by owner websites in the UK I cannot see this working, I started in 2001 and in 2010 sales were dropping from over 100 properties a month (£99 one-off fee) to roughly 10 a month, with the rise of cheap online agents it's not worth listing FSBO when you can get listed with an OEA from £99. Also, where is the investment for SEO because this will never get up the search engines. Sorry to put a dampers on it but i'm speaking from massive experience.
It also wont work because, in my view, RM and Zoopla will start FSBO s when they feel the time is right.
True, I know RM do overseas private sales, do Z?
In my opinion I believe that it is Zooplas "ace card" which will be played in the not to distant future……Both the main portals are already accepting self sellers listings from 3rd parties who charge mostly less than £100…so why not help self sellers themselves and sell a listing direct for £99 + vat.
And before anyone says "because the agents will then leave them"……..well they haven't so far and they have been accepting 3rd party listings for a few years now……even though they deny it ammounts to self listing.
The consumer has always been able to sell their own home – and bake their own bread, fix their own cars, paint their own houses, build their own furniture, take their own cases to court, grow their own veg etc etc etc.
When will people like the pair behind this new/old venture understand most of them do it because they just can't be bothered or don't have the time to squeeze another job into their already busy lives.
Agreed but.
"“It’s really important for people to be able to sell their homes free of charge.”
Why is this important?