Online agents are fighting back despite being excluded from new portal On The Market.
Tepilo, founded by TV property expert Sarah Beeny, forecasts a strong growth for the online estate agent industry in 2015. Beeny says is great news for UK home-sellers looking to benefit from this convenient and low-cost option.
Tepilo's valuations over the two-week Christmas period increased by 1,100% from the previous year and registrations increased by 1,750%.
The site claims that the cost savings, simplicity and convenience of browsing and selling your property online means many homeowners are converting from high street agents to selling their own.
Beeny says: The amount of online estate agents is growing and it is predicted that by 2020 70% of homeowners will be selling online. This is partly because a high street agent selling a £500,000 home generally costs the homeowner around £8,406. With online estate agents like Tepilo.com it costs £594 (including VAT) and it's hard to see what you get for the extra £7,812.
This represents the shifts in society and need to move with the times. We are now much more likely to property surf online on Christmas Day than watch the Queen's Speech (in 2013 Rightmove had 14million page views when the Queen's Speech had 7.8million). We also spend an average of 17 hours a month on property sites and in 2013 Rightmove was the 6th most visited site in the UK, above the BBC.