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An online estate agent dealing only in properties that must be sold claims it is selling at the rate of four a week – more than four times the national average of just under one property a week, which the RICS recently said was the case.

The Discount Property Shop matches motivated sellers with motivated buyers, and only deals with sellers who need to sell quickly, whether for financial reasons, after a divorce or separation, or because they have inherited property or are relocating.

These sellers are required to have their properties valued by an RICS surveyor and then to reduce their prices by a minimum of 10%. They must also purchase a HIP, which the site can arrange.

Once the properties are on the market, they receive some of the widest online advertising coverage in the industry, and are listed on all the main property portals.

On the buyers’ side, the organisation will only take inquiries from those who are ready to proceed quickly – i.e. with finance in place and solicitors available. Buyers can make inquiries round the clock via the 24/7 inquiry line.

Mark Brogan, managing director of www.discountpropertyshop.co.uk, said: “We offer a fully transparent service that represents a win-win situation for buyers and sellers, and we are completing sales in record time: on one occasion we registered a serious buyer within 30 minutes of advertising the property.

“In the current economic climate, the business model for the traditional high street estate agent is no longer viable and the industry needs to respond to market forces. Not only do our sellers offer appealing discounts on quality properties, but we are also able to reduce costs ourselves by conducting our business online.”

The company books all viewings and conducts negotiations. This week, there were 57 properties listed, including those under offer. Most were in the north, with a few in London and the midlands.

Comments

  • Wow, at least somebody is doing well! I've sold 5 houses in the last 6 months.

    • 17 November 2008 12:07 PM
  • I have a friend who bought through them - it's his fifth property purchase and he reckons the whole process was much easier than any of his previous purchases. cheaper and less stressful as no chain.

    • 11 November 2008 08:09 AM
  • i have 80 properties on my books, they all have to sell and I am not selling 4 a week. maybe we should all take a desperate buyer franchise.............

    • 08 November 2008 12:41 PM
  • If it sounds too good to be true - then it probably is!

    • 08 November 2008 01:47 AM
  • A property investor friend of mine sold a couple of properties with these guys in October. He didn't need to pay for a val as they had been done recently for a remortgage.

    • 07 November 2008 05:14 AM
  • Funny that, they had the same properties and number under offer over a month ago, someone is telling porkie pies me finks!

    • 07 November 2008 01:11 AM
  • what do discount property shop charge ? there's no mention on their site about fees. Worth asking ?

    • 07 November 2008 12:10 PM