Words: Ashley Rigg
Published: 6th July 2010
*Supermarket gets personal in battle with local agents
iSold, the cut-price estate agency chain backed by Tesco, the UK’s largest supermarket chain, has come up with an innovative marketing strategy to steal market share from its traditional rivals.
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Source: Global edge
User Comments
This system has been running in Holland for several years by means of a franchise called Free Home Market. It was eventually exported to Spain too, but has proven not to be a real alternative, ending up in between the "old fashion" estate agents. The clever thing about the story is that they must mainly focus on listings, because than the money comes in. i.e. 1000 listings a year at 999,- makes the million. If they then spend 300.000 on advertising....... But even they can not give a guarantee when your property is sold. I know of one house where the for sale board has been on for three years!
Fred van Krimpen,
ELITE Inmobiliaria
One of our competitors has been using this touting method for ages. When selling my house last year, I was inundated with this compliment slip idea and followed up on several occasions. Eventually I complained to the NAEA and it stopped overnight. The problem here is that Tesco are a law unto themselves....
James Wyatt,
Barton Wyatt