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No sale, no fee HIP is relaunched

27 March 2009
Written by Rosalind Renshsaw

Reader power on this site has led to the relaunch of a HIP product.

A no sale, no fee HIP was originally launched by Hippd (UK) but drew posts from Estate Agent Today readers who queried its upfront cost of £89.

“After reading the comments on Estate Agency Today, we re-evaluated the product, went away and secured £4m in funding with another £20m in the pipeline, and are now re-launching the no sale, no fee HIP with no upfront cost,” said Jason Clemmit of Hippd.

“So now there is no upfront cost, and if the property does not sell within 12 months of marketing, there is nothing to pay – a true no sale, no fee product.

“This change to the product came as a direct response of the feedback in the Estate Agent Today article.”

The company has also gone over to a regional pricing model which will give both personal and official search prices defaulting to the cheapest. This is to take account of changes that kick in on April 6, which will allow local authorities to increase their access charges to personal search firms.

A no sale, no fee product has also been launched by Scottish firm Home Reports Direct. It covers both HIPs and the Scottish equivalent, Home Reports.

Comments

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    Lets be fair Colin, the Gov have not stopped the market nor have HIPs I agree! But only an EA can really comment on the effect HIPS have had on the market as they hear from the front line what people think about them and know how many people have chosen to stay put because of them. Thousand of home owners used to come on the market with a ''lets give it a go sale'' attitude! When HIPs and the associated fees came along those people stopped and less houses as a result come to the market. So HIPs have not exactly helped but then they can not be blamed either, but then the Gov have not either...reckless lending, unsustainable price increases and what goes up must come down have all played a part in the downturn! Still this post should be about how NSNF Hips will never work as a sound business model!

    • 28 March 2009 21:17 PM
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    The Tories, will not abolish HIPs they will revamp it make it work then claim the glory.

    Hopefully by then the market will pick up. I have been involved with HIPs for nearly 5 years they have had no part in the property crash I blame the Govt

    www.rainbowenergyassessors.co.uk

    Happy days will return one day "hang on in guys"

    • 28 March 2009 16:38 PM
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    Who is your provider offering No Sale No Fee ? Who has been offering it for ages ?

    • 27 March 2009 18:26 PM
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    Ive had a no sale no fee HIP provider since they came out! and they didnt need millions of funding!

    • 27 March 2009 17:18 PM
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    £50.00 (to a charity of Rosalind's choice) says they won't abolish them. They might change them, they might rename them, they will not go back to what we had before though!

    • 27 March 2009 16:13 PM
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    You need to be well into profit and pay back the 24 mill by 2010 because the Tories are going to abolish HIPs

    • 27 March 2009 11:39 AM
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