With no announcement and little fanfare, the Tesco Property Website has gone ‘live’.
As expected, it has a nationwide database of about 400,000 properties for sale (supplied by Fish4 and Smart New Homes)which supports a “FSBO” or For Sale By Owner offering at £199. Tesco will provide a For Sale board, automated valuation software to help calculate an asking price and an online brochure.
Mark Davis, of www.Tescopropertymarket.com, is reported as saying: “This is going to revolutionise the property market. If people still want to use estate agents then they can, but we are going to give them all the tools to do it themselves.”
He said sellers will need only internet access, a tape measure and a digital camera.
“For sale” boards for outside the home will be provided and the property will stay on the site until it is sold — or taken off by the seller. The site offers details about local schools and amenities — and gives pin-sharp aerial views of locations.”
Support from Fish4Homes has surprised some in the industry as none of the big property portals had decided to support a private sellers website and only yesterday, a spokesman for Fish4Homes had said “At the time of print it is understood that fish4homes are not intending to support the portal”
Ed Williams, group managing director of Rightmove, said: “We’re not playing ball. This is a Trojan horse and we have declined to participate. Our commitment not to take private advertisers is long-standing and on the record. If Tesco scrape our listings without our permission, we will take the appropriate legal action.”