UK Landlord Forum / Life

Property blog BricksnClicks reports that Tesco's have ditched its For Sale By Owner online offering:

http://web.mac.com/henry.pryor/BricksnClicks/BricksnClicks/Entries/2007/10/4_Tesco_pull_their_FSBO_offering.html

Tesco Property Market launched in the early summer offering the public a chance to sell their house privately for £199. The offering immediately ran into trouble with estate agents and the property portals...

According to BricksnClicks, Tesco's retreat comes after the OFT ruled that Tesco were acting as estate agents, and so must comply with all necessary legislation. The demands associated with that make a £199 fixed fee impractical.

In Tesco's own words:

As we can't be both an on-line estate agent and private seller we reluctantly have to suspend the private seller service launched earlier in the year. We will however continue to use Tesco Property Market to provide advice and support to home movers, as well as offering great value products including mortgages, insurance, conveyancing and HIPs.

F***ing bloody tossers. Its not enough for them that they shut down al the local corner shops and butchers. Now they want to get onto the property gravy train. I knew it would never last. I hope it cost them a fortune.

I didn't realise you needed a license to let people advertise their properties on your site. I was even thinking of going down that route at one stage!