Tesco Enters Lucrative British Property Market

Tue, 03 Jul 2007
 
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Tesco has launched a new online property service that could change the way property is bought and sold in England and Wales .

The Tesco Property Market site will challenge estate agents by allowing homeowners to sell their property online for a cut-price fee of £199 and allows home seekers to search for a new home from hundreds of thousands of estate agents’ properties for sale .

Users will be offered impartial information about all aspects of buying, selling and moving home .

Those who opt to sell their own property will get online advertising space and a Tesco 'For Sale' board to fix outside their home, as well as an online and phone service that helps manage bookings and even offers.

The seller will be able to post as much information as they like, from technical details of the home to local schools and amenities. There will also be links to similar properties in the same area.

Property sellers in England and Wales will be able to use the site’s extensive range of online tools to advertise and manage their own home sale for £199, or choose an estate agent from the approved Ombudsman for Estate Agents (OEA) list to sell their home .

Tesco has teamed up with property listings website Fish4Homes, but other websites and estate agents have warned the supermarket giant not to provide a search of their listings.

Tesco.com chief executive, Laura Wade-Gery commented: "Tesco Property Market offers a 'one stop shop' for everything related to moving house, and we hope this will make life a little simpler and save money for many home movers."

"Tesco Property Market is the latest of our retailing services. For the home mover, it brings together our simple, convenient and affordable products in financial services, telecoms and home shopping ."

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