The property portal that bans estate agents but gives a free listing service to private sellers and developers has hit back at yesterday’s story on Eye.
Eye’s report followed a Financial Times blog by Paul Murphy who said that iProperty – not the major UK portals – would be the next big disruptor of the estate agency industry, largely because it is not an estate agent.
Murphy described the current battle of UK property portals as phoney and said that “with three sites to check rather than just two … transaction costs remain the same”.
Yesterday’s story on Eye queried whether iProperty, which offers optional paid-for services such as sales boards, might be considered an estate agent.
Eye quoted commentator Henry Pryor who believed it is an agent and said so on Twitter.
Yesterday CEO John Candia said: “The iProperty Company is an international property community that allows buyers, sellers and renters to interact directly and it is free.
“The UK property industry is running scared in a bid to protect outdated practices that see private individuals excluded from the major portals, except via an agent.
“We took legal advice prior to developing the concept and are confident that we are not in breach of the rules.
“This is a thinly veiled attempt to undermine us, as consumers increasingly switch to online options in order to make savings.
“Gone are the days when you needed to rely on the high street to buy and sell a home.
“We expected this and I am sure there will be more bleating as we establish a greater presence.”
Comments (7)
Absolutely many in the industry are running scared. One of the reasons AM has come about, the one portal rule and no on-line agents.
All agents are online. The one portal rule I think will with trip many agents into legal problems as its set by a commercial concern in their and agents interest which in many cases wont be knowingly in consumers best interest. There is also BPRs which highlights other concerns.
Under UK law the site and setup is that of an estate agent and as such needs to be under a redress scheme. It is not a passive model and not a portal.
Agreed. Who was their legal advisor, clearly not a lawyer….. the bloke down the pub?
ANY DANGER OF HAVING A PORTAL FREE WEEK………………………………????
ITS ALL GETTING A BIT TIRESOME AND SOME OF US ARE ACTUALLY QUITE BUSY AND NEED TO MAKE HAY BEFORE THE DREAM TICKET OF MILLIBAND AND BALLS GET IN……………..
The UK public are not Goldfish, most will be able to remember who it was created the economic and social difficulties of the country trying to buy votes ahead of the last election and keeping the UK artificially out of two worldwide recessions to give the impression of prosperity and political success. Gold reserves, WMD, HIPS, enough said? Now can we all sit back and watch Trevor do his thing to Mr Candia?
Big stretch and YAWN!! I started a business like this in 2001, I was the number 1 site for over 5 years, then onliners came and the business slowed, the UK won't work with private sales.