My in-laws have sold their property within a week of advertising on Tesco Property Market.I think people who are complaining and winging are estate agents who have been earning money for free.
LET PEOPLE HAVE CHOICE.I think estate agents have lied to consumers for a long time , and making people think its difficult and complicated to sell a home.Well done Tesco

ska frost, copthorne, uk

199 seems quite a lot,
we did get some estate agents round but they were such a bunch of charlies that we bought a sign for 25 pounds, put it outside and sold in three weeks for a decent price.

neil buttle, buxton, derbyshire

£199 is a hell of a lot of money for the consumer to pay just for the privaledge of producing their own particulars with no experience of property misdectriptions act (a legal minefield), to take you own photos, to attempt to qualify your own prospective buyers and then arrange & conduct all viewings, to then gain feedback from viewings, and negotiate any offers arising from your viewings, to then confirm the financial status (without the assistance of a qualified mortgage adviser) & full chain details, to then nurse the chain constantly with ALL conveyancers, mortgage lender/brokers and agents involved in the chain to ensure it does not fall through. Also to not benefit from advertsising in the local papers, from regional magazines, exposure in local high street offices and the number of others ways in which agents expose your property to the public. So £199 to just erect a board, print a poster and load onto internet (cost to Tesco approx£10) shows who the true rip off merchants are!

Rob Baxter, Melton Mowbray, Leics

We just sold our house via www.sellthatproperty.co.uk and only paid £69.99. So yes it does work, we saved over £8,000 in estate agents fees, but yes we had to controll the whole sale ourselves with the help of our solicitor....well worth it though. Tescos will not only offer to sell your house, but will have a new data base to sell other services to White Goods, Insurances, Finance etc allowing them to post even bigger profits year on year.

Julie, Harlow, Essex

Although many (INCLUDING myself) have had good reason to be annoyed with estate agents, lets not delude ourselves into thinking Tesco's have a serious alternative. It seems to me they are simply offering a property advertising service - i.e. you pay £199, they stick a board outside your house, and plug your house on their portal.

But is this really good value for money? ....

1 - Once they've got your £199, what is their incentive to see the sale through? Answer - NONE.

2 - They expect YOU to do ALL the REAL WORK involved - from market valuation, writing sales particulars, taking good images, escorting buyers, negotiating bids & offers, and chasing progression thorough the chain. Dont underestimate the skills & effort needed to get these things right!

Id say Tesco are simply providing an (expensive) property advertising service ... eBay have been allowing this for ages and it only cost a couple of quid to list your property with them! Great offer - but not for all.

David N, Lingfield, Surrey

Try this link: www.oft.gov.uk/advice_and_resources/resource_base/legal/estate-agents-act/retailers#named1

This confirms that TESCO as defined by the Office of Fair Trade is an internet estate agent. It is a foolish , not fully thought through move as TESCO have left themselves wide open to pma (property misdescription). If a vendor logs there house on with visual or descriptive errors then Trading Standards can impose penalties on the agent. Basically TESCO. SUPPORT YOUR AGENTS.
I put this idea originally two and a half years ago to TESCO with a varient in favour of still working with agents. They pinched the idea and reproduced it in a way that many agents feel dangerous. SUPPORT YOUR AGENTS

Trevor Mealham, Ashford, Kent

Estate agents have had it to good for to long! They are nothing more than rip off merchants, charging extortionate amounts of cash from your property sale. Good luck to Tesco in this new venture as I think the public will want good value for money.

Luke, Manchester, England

I am shocked at thhe service levels that many people appear to have received. As someone involved in the property business I would suggest anyone who thinks selling houses is easy asks their local agent if they can spend some time in the office seeing it for real!!!

They will then discover the joys of dealing with time wasters, liars and a hoarde of people who are rude (thats the public by the way)

Whilst Tesco's offering is and understandable way of them cashing in on the misconception of what Estate Agents do, I am sure after having 10 or 20 people "muddying" their carpets, who are not even in a poistion to proceed they will wish someone was qualifying them.

I will not even start to go into the joys of chasing chains and progressing the conveyance.

In the long run the more people sell privately the more will extol the virtues of Estate Agents.

MW, Somerset, UK

i notice that anyone that wants to view any house on tesco site will be fully credit searcherd by gb credit and a voters roll check do you know this will affect your credit score but i think tesco will sell on to third partys for fees like finance companys what are there motives? the have 35 of there own properties listed and the rest are estate agents listings no web adverts or in store markiting i think i has not being thought out properly and its doomed for the bin i notice their in court for misleading fish for homes they told them they only wanted property on their site to sell big tvs and friges but realy they wanted to shaft them i hope they get a massive fine..

MANNY cohen, golders green, london

At Last.,

Let's hope this is the end of Estate Agents as we unfortunately know them.

I hope they all suffer financial difficulty for allowing themselves to operate without regulation.

Sincerely,

Happy Harry, Bath,

We have just put our property on with Tesco and got points for it too. We only signed up on Thursday and they have already got our board up ( Monday) it took our previous estate agent 3 weeks for that feat of engineering. So service seems good and now we shall wait and see what results it brings.
Competition is good for the market and surely estate agencies should have their customers best interests at heart ,advertising properties to as many people as possible is surely good practice and what their customers would want. Have they asked them?
I

J. G., Deal, Kent,

This is typical of UK Estate Agents. Tesco is doing a great job here and as a family just about to put our house on the market we are still 100% behind Tesco and are going to give their service a try. Hannells Estate Agents are just one of the very scared Estate Agents out there that charge a ridiculous fee to do what Tesco can do for £200. I erg everyone to have a look into advertising with Tesco, perhaps this will make Estate Agents think twice of charging what they do for what I believe from experience to be very little.

Helen Stocks, Northampton, UK

Well I checked the fabulous Tesco website yesterday and they were offering loads of properties in my area of SW London which were around two years out of date. What really p$££ed me off was that one of them was mine. After threatening fish4homes with legal action they've managed to withdraw it, but how much more of their info is out of date?

Clare, London,

This is typical of UK Estate Agents. Tesco is doing a great job here and as a family just about to put our house on the market we are still 100% behind Tesco and are going to give their service a try. Hannells Estate Agents are just one of the very scared Estate Agents out there that charge a ridiculous fee to do what Tesco can do for £200. I erg everyone to have a look into advertising with Tesco, perhaps this will make Estate Agents think twice about charging what they do for what I believe, from experience, to be very little.

Helen Stocks, Northampton, UK

No one who has experienced the Multiple Listing System in North America can understand how the UK Estate Agents work. All that traipsing from agent's office to agent's office, no co-operation, no service, poor advice, unprepared agents. It is not that agents over here earn less or charge lower fees but they compete against "sale by owner' and "fixed price listings" by working harder and better.

"I'm going down to Tesco's to get a house." Sounds great!

ChrisVJ, Whistler, BC Canada

How can people describe estate agency as a monopoly? There are so many different agencies, all competing for business. No one has to instruct an agent, private sales have been a legitimate option for years. You pay your money and make your choice. There are good agents and bad. We shall see how Tescos "service" shapes up. Personally, I would like to know that my most valuable asset (as most homes are) not only sells, but has been thoroughly market and has achieved the best price. Mindless abuse of a estate agents obvioulsy excites some people!

Robert, London,

Estate agents are mostly angered becasue it hit them hard. It is good luck to both house unters as well as house sellers. I fully support the Tesco site, or in fact any site that generate competitions and help customers.

M A Jabbar, Altrincham, Cheshire

Tesco is like cancer. They dominate the markets they persue and wipe out the competition. They reduce prices, offer better products, give better service, sell better quality, refund your money if you are not happy, always polite and smiling, very helpful, the place is always clean, safe and hygene standards are superb, their shares go up and up for ever .... it makes me sick. This is not the British way of doing things. We want to go back to how things were fifty years ago when we were all dirt poor and happy as pigs in muck.

Arthur, Coventry, UK

I would rather trust Mr Tesco than Mr Estate Agent that is for sure.
When I sold my house I was the one chasing the solicitor and estate agent to speed things up.
Why did EA's never accept a fixed fee and never adjusted their percentage commission to the inflated house sale prices?
With the marketing from Tesco and a complete Home Information Pack I would be happy to turn may back to any Estate Agent.
Well done Tesco for a healthy competition.

Steffi, Bournemouth, UK

You think it sounds good £199 to sell your house? So why is estate agency one of the most stressful jobs you can do? Why do we get all the business, the simple answer is because people don't want the hassle... the agent takes all the ownerships of meeting the laws, does all the viewings, negotiates the sales and are proven to acheive better prices than selling it yourself, thats only half the job, then you have to get the sale through to completion with all the laws and jargon to contend with, problems, chains, flexi time councils, crap solicitors for the sake of paying out average commission of 1%... most people don't have the time to deal with the moving process, it's a full time job, trust me, give the job to a proffessional your be better off in the long run!

paul, East Dulwich, London

Have I gone senile, or does this article not actually explain WHY these people are so miffed at TESCO's?

starling, Lancaster,

As a recent house seller/buyer I realise that house buying is an expensive process mainly due to stamp duty, solicitor’s fees and agent fees. With stamp duty at least I can console my self with the thought that the money has gone into the public purse for the collective benefit of all. Solicitors are generally clever people with the education and professional qualifications to justify their slice of the pie - but estate agents! They’re just parasites that who do very little for the commission they charge. I wish Tesco all the best and hope they’re able to utilise their vast financial might and pummel the estate agents into submission.

J Singh, windsor, berks

As a real estate agent in California, I have no problems with the competition of "discount: sites and agencies. Based on my experience (20+ years) fly-by-night companies start-up with great fanfare and intentions ... eventually owners become tired of the empty promises and lack of customer service and ask a licensed professional to get their homes sold...

Yes, with the profitable nature on the surface of real estate, it is easy to see the top of the pond....but below the surface with liability issues the cost of doing the real estate business is so much higher ...

Before you cast stones ... do your homework....and look at the history of other companies now out of business or who have changed their business model..... Lastly, as an agent who has secured a contract to sell a home, permission is needed to co-market the property .... at least in my state...

Don, Santa Monica, USC, California

Hooray for Tesco. It's about time someone challenged the monopoly that estate agents enjoy in the housing market. They may be having a few teething troubles (bit like our new PM, in a way), but I'm sure they'll soon be overcome.

Imagine not having to pay 1.5 to 2.0% on the sale price of your home, plus VAT, for the 'expertise' of a bloke in a suit, who's between jobs as a double glazing 'consultant' and a second hand car salesman. I'll be using Tescos from now on, that's for sure!

Mike, Cowbridge, Wales

could not agree more with sacha from london, a complete rip off estate agents operate with the lowest of ethical standards - just surprised this has not been done earlier

Jon, London, London

It is about time someone made Tesco toe a line. They have far TOO big and far TOO greedy.

In my own experience they don't give a 'monkeys' about their customers - they just want your MONEY, that's why I gave up using them years ago.

Schmuel, Peterborough, England

I second that, well done Tesco!! The sooner they can introduce fair fees and eradicate those slimy horrible, dishonest people the better. For too long estate agents have ripped off the general public while not acting in their best interests, I cannot wait for the revolution!
Any estate agent that can justify their existence please do I will be checking for your comments all day!

EH, London,

Major supermarkets seem to move into new areas and then not offer the backupo services that the specialsed retailers do. For example you can buy expensive Pilot rollerball pens at Asda and they don't stock the refils

Dom, Southampton,

This is free market and competition at its best! GO TESCO! Every little helps!

Michele, Richmond,

So what??? Some estate agents in their ill-fitting Next suits are getting their knickers is a twist. Long may it continue!!! As anyone selling a house knows, you end up doing most of the work yourself as the estate agents are completely incompetent. When it comes to me selling my place, Tesco is where it will happen.

I think it's wonderful that these parasitic little "barrow boys" are getting their comupance....and Tesco has the cash to take this all the way!

Ben Siegmund, Ware, Herts

James Rossiter has failed to tell exactly what the problem with the Tesco site is considered to be. How can a reader make up their mind whether or not the estate agents are acting in best interest, self interest or no ones interest.
There are many sites on line where consumer goods are shown along with their suppliers names in comparative lists. These are extremely useful when looking for a good deal, is it this type of site the estate agents are complaining of, Rossiter fails to inform.

,ike gee, bournemouth, uk

I can understand why estate agents might view our entry into the market with scepticism because competition can be tough. But competition benefits the consumer because it makes businesses work harder.

Private sales are competition for traditional estate agents but they are a small part of the market and there is plenty of room for everybody who provides a good service for home sellers.

I firmly believe that those agents who put the needs of their customers first will see that Tesco Property Market is a way to get their properties in front of hundreds of thousands more potential buyers. It also doesn’t cost them anything so it really is a win-win for them and their sellers. If I were selling my house I would want to know that my agent is doing everything to get it in front of as many buyers as possible.

I hope that estate agents will think of their customers, accept the need for competition and use Tesco Property Market to benefit their own businesses.

Mark Davis, Crawley, UK

Let's hope the end is nigh for the Estate Agents, those greedy people who have continued to rape house sellers of money by maintaining the same 1.5 to 2% commission even as prices have risen by 150+ %. It's almost like a cabal!

No wonder they're running scared. Maybe now they'll start to charge a flat fee.

Good luck to Tesco.

Chris, Northampton,

Poor estate agents
never has so much been paid for doing so little

tom irving, bristol,

The writing is on the wall for estate agents. Soon it will be five pounds, not 200, to post your home on a central website. The web squeezes out intermediates.

Malcolm McLean, Bradford, UK

Tesco is like cancer. They dominate the markets they persue and wipe out the competition. In the long run, consumers will suffer.

Mr T, Leicester, UK

The greedy estate agents are fighting a losing battle. This is simply free market at its best and the more choice we get the better. Do we know anyone who likes dealing with estate agent anyway ? Well done Tesco !!

V Shutupo, Surbiton,

Surely Tesco cannot be surprised by the reaction of the estate agents and their vested interests.

Tesco needs to target the the house buyers and sellers directly, removing the agents from the transaction. Given their large customer base, directly marketing this service to its stores' customers would be a good starting point.

Like many people, who resent paying £££ for estate agents' poor or mediocre service, I wish Tesco the best of luck.

Rob, Cambridge,

If people think they will be able to sell their property for £199 they can forget it - placing a property on a website is only a small part of the marketing process. It is my prediction that when people experience the trials of dealing with all the phone calls, viewings, filtering the applicants and handling quite often tricky negotiations (maybe losing thousands in the process through their inexperience, embarrassment etc) and with none of the protection afforded by agents, they will gladly pay the fees and realise that it is money saved rather than spent.

Paul H, London,

I totally support Tesco's move to estate market. Most of the estate agents I have dealt with are incompetent and untrustworthy…so I would say that £200 is a good mark up for the middle market & relevant services.

Sacha, London,

Tesco you are a star!!

Michele, Richmond,

Given what has happened to the travel industry, I am amazed that estate agents have managed to fight off the internet for so long. I cannot say I am surprised at their reaction.

Lets hope Tesco persists, further promotes and succeeds with this venture and we can say goodbye to these useless, unqualified parasites.

Baax, London,

It is becoming fashionable to knock TESCO but selling property radically changes my opinion of the retailer. TESCO attempt to enter the Estate Agent market is a great example of free market dynamics. Estate Agents are worried ONLY because they will not be able to maintain the grosse charges they apply.

When I buy my groceries from TESCO I get a far better level of service then I have ever had from an Estate Agent. TESCO's staff are usually polite and helpful unlike many Estate Agents I've had the misfortune to deal with. For example, I'm sure some Estate Agents have not passed on my offers on homes. Perhaps TESCO will bring their skill and honest with customers to the world of selling houses!

WELL DONE TESCO.

NickT, Aldershot, Hants, UK