An online estate agency has taken on the established high-end agents by marketing a home in prime central London for £19.5m - thought to be the highest amount ever asked for a British property being sold only via the internet.
SellMyHome.co.uk is marketing the nine bedroom property at Phillimore Gardens in Kensington - an address typically marketed through the likes of Savills and Knight Frank.
The vendor, according to a report in the Sunday Times, is a 69 year old financier and businessman who is reported to have spent £550 plus VAT on the online listing and - if the property sells through this route - stands to save almost £500,000 based on what the newspaper says is a 2.5 per cent commission which is typical for the agencies selling at this extreme end of the market.
The article also says AgentOnline.co.uk is listing a property valued at £10m.
Dominic Toller, director of AgentOnline, is quoted in the article as saying that exposure only via the internet, and exclusion from the OnTheMarket portal, are no longer obstacles to online estate agencies securing high end stock to sell.
“Consumer awareness of OnTheMarket seems low and our advice is clear. You need to advertise on Rightmove and Zoopla. Between 70 per cent and 80 per cent of our buyer enquiries come from Rightmove and the rest from Zoopla” he says.