June 11, 2005
NetImperative: Tesco has announced it plans to sell houses over the Internet, claiming it will charge customers as little as £50 to sell their house online.
The supermarket giant is targeting home sellers who do not wish to pay estate agents' fees, who usually charge between one and two per cent of the selling price as commission.
According to a report in trade magazine the Grocer, Tesco is currently working with designers to create the site, which will include a virtual tour of properties.
Potential buyers will have to register their credit card details online in order to view properties.
Buyers can then contact house sellers directly using coded phone numbers, which means that vendors do not need to reveal their home numbers.
Tesco to sell houses online [NetImperative]
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