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Estate agents under threat from online house sales
The Internet could help buyers avoid paying large commissions
Martin Lynch,
Personal Computer World 28 Mar 2006
Up to half of all homes sold by 2010 will be sold online and do away with the
need for traditional estate agent services.
This prediction comes from e-tail industry body
IMRG and
first4sale.com
which are forecasting that 700,000 of the 1.4m homes sold in the UK each year
will be flogged online in just four years time.
The prediction is based on research that shows that up to one million of
those houses sold are first viewed online and that sellers will take familiarity
with the web to the next level.
IMRG and first4sale.com claim that a growing number of people see the
Internet as the key to avoiding paying thousands of pounds over to estate agents
in commission fees.
Both groups are quick to point out that the recent
BBC
TV
series Whistleblower,
that unmasked unscrupulous practices by leading estate agencies, will only help
drive people towards net-based property dealing.
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