Is selling your home in East Dulwich about to become more difficult

[Toldyouso]

Came across this article in the Telegraph over the festive period:

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11317894/Why-selling-your-home-in-2015-is-about-to-become-a-real-headache.html

It appears that many estate agents have joined together to set up a new property portal (in competition with Rightmove and Zoopla)- seemingly to try to take control from, and avoid the fees of, Rightmove/Zoopla and to exclude online agents. It will be called On The Market and membership rules of this new "club" are that agents can list their properties on only one of either Rightmove or Zoopla; so going forward properties will be listed on one portal nobody has currently ever heard about and one or other of Rightmove and Zoopla. It would be interesting to know which of the local agents are part of this and how they are selling this to their clients?

[eastdulwichhenry]

Someone should start a Zoopla service that does not require estate agents to pay fees to appear on it, and relies on advertising for its revenue instead. Then it could list *all* available properties from all agents and be much more useful to buyers than the current set up.

[Loz]

Since Rightmove is already owned by a conglomerate of the some of the biggest estate agent companies in the UK, it would be a difficult task to try and extract such terms from non-aligned estate agents. I suspect Rightmove would employ a tit-for-tat contract and strangle the young upstart at birth.

Anyway, most people search over both websites anyway. One more isn't going to make selling all that more easy/difficult.

[Toldyouso]

Rightmove and Zoopla are now both listed on the London Stock Exchange and so neither of them is owned or controlled by Estate Agents. I am not arguing that a third property portal is either a good or bad thing in general, merely highlighting the point that very shortly, if you use an agent that is a member of OnTheMarket, your property will only be listed on one of either Rightmove or Zoopla (though take your point that many people check out both of these sites) and wondering how agents are selling this to their clients.

[ruffers]

I'm pretty sure that as a buyer I'd check all three so not sure what difference it'll make re making selling my home more difficult.

[JohnL]

http://www.thisismoney.co.uk/money/mortgageshome/article-2850730/CITY-FOCUS-Bitter-war-estate-agents-leave-movers-getting-thousands-pounds-sell-home-industry-insiders-believe.html

Saw this - biggest news is - Zoopla is 31% Daily Mail urgh :)

[MrBen]

But consolidation in this area WILL happen. I quite like the tech world at the moment. For all the useless apps emerging there are some smart people disrupting existing channels with new ideas...shaking things up a bit. Moving the world forwards.

Having said that, I'm not sure this is one of them. Rather t's the kind of early sign that someone will. If people had more confidence generally a much higher % of home sales and rentals could be conducted privately. Especially in a busy market like London.

[MrBen]

And a tenner says that if I stuck my home on the market tomorrow it would sell within a few weeks. If it was at the right price. Thats all it is really...the hazy margin around what the "real" price is sprinkled with the human variables of buyers at the time.

[JohnL]

MrBen Wrote:

-------------------------------------------------------

> And a tenner says that if I stuck my home on the

> market tomorrow it would sell within a few weeks.

> If it was at the right price. Thats all it is

> really...the hazy margin around what the "real"

> price is sprinkled with the human variables of

> buyers at the time.

But you can't blame sellers if they want the highest price

at any cost.

I have a 33% share in a inherited house - and it's empty and

will remain so until the best price comes.

[MrBen]

JohnL Wrote:

-------------------------------------------------------

> MrBen Wrote:

> --------------------------------------------------

> -----

> > And a tenner says that if I stuck my home on

> the

> > market tomorrow it would sell within a few

> weeks.

> > If it was at the right price. Thats all it is

> > really...the hazy margin around what the "real"

> > price is sprinkled with the human variables of

> > buyers at the time.

>

> But you can't blame sellers if they want the

> highest price

> at any cost.

>

> I have a 33% share in a inherited house - and it's

> empty and

> will remain so until the best price comes.

And what is the "best price"? A subjective number that you just have in your head or based on actual transactional market activity?

You could hold that sucker for years. Just remember you'll be paying capital gains tax on it...at 28%. And with a third share the other two are going to have to agree with you.

[StraferJack]

I wonder how many john L s there are in the country

Do we need house building programmes or do multiple house owners need a slap?

[MrBen]

A tad harsh Strafer.

Multiple house ownership I have no issues with provided it's taxed correctly - it's not at present. It's taxed way too low.

Multiple home ownership of EMPTY homes though....well that kind of grates. Almost as much as a landlord jamming 8 polish builders into a 3 bed house in Sydenham.

[StraferJack]

Well yeah but john implied his was empty didn't he?

Either way, taxing multiple owners just raises revenue. It does little to stop the leaveraging of fixed assets into fewer hands surely?

[MrBen]

Taxing non doms and UK owners with BTL the right rate starts to make it less attractive vs other investments that they're not investing in at the moment.

[StraferJack]

Perhaps. But "less attractive" is not the same as people not doing it. People who can, are still doing it. Because the return is so good

This is not the same as saying as what is and isn't acceptable or right. That might be a different discussion (and one we have had)

But happening it is. More property in fewer hands

[valentina.howe]

There are a lot of services running online however LetorSellProperty.co.uk allows agents, landlords and private sellers to advertise property for free not only on its own site but the property gets published to multiple sites resulting leads for the properties in less than 24 hours.