From This is Money:
The supermarket giant has teamed up with estate agent Spicer Haart to launch iSold.com, potentially saving customers thousands of fees.
Tesco’s move back into the property market follows its original venture Tesco Property Market, which offered people the chance to sell their own home for £199.
But this had to be pulled after opposition from estate agents and existing property listing websites, which pointed out it was breaching rules on home sales, which meant it was responsible for details.
The Office of Fair Trading wants to change this, but for the time being iSold.com checks will be carried out by Spicerhaart agents.
The new Tesco move swiftly follows the OFT’s announcement that it wanted to shake up the home selling market and make it easier for rivals to traditional estate agents and people to sell their own homes.
Typically agents charge between 1% and 2% of a property’s selling price as commission – so iSold.com’s flat fee could save thousands for those with l…
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