easyProperty sales launch takes industry by surprise

Online agency easyProperty has launched its residential sales service this week, ahead of schedule - and catching some elements of the industry napping. 

The announcement came through yesterday morning as a sales section was being created on the easyProperty.com website, with news that a ‘soft launch’ was being undertaken from yesterday ahead of a formal start to the service next month.

easyProperty has been running an online lettings service for the past 11 months with the industry anticipating what impact the firm would make when it moved into sales.

According to the website, the firm now offers vendors three flat-fee packages costing from £475 to £1,500 including VAT.

The cheapest is described this way: “We line up potential buyers and you show them round yourself. Once we’ve collected the offers and negotiated the best price, it’s back over to you to handle the Sales Progression. Best suited to those who want to get hands-on!”

The second, costing £825, still has vendors hosting viewings although easyProperty says in this case it also handles “sales progression”.

The final and mosty expensive option includes an interactive floor plan, premium Rightmove and Zoopla listings, and what the firm calls “one-on-one viewings.” 

This week, during what the company calls a “soft launch,” the first 200 customers are being offered free listings. 

Earlier this year the agency told Reuters news service that it planned an Initial Public Offering in the second half of 2015 to raise funds for its expansion. This was quoted as seeking funds "significantly larger" than the £9.75m raised last autumn. 

The fund-raising initiatives last year valued the company at £66m. 

easyProperty - which advertises residential lets on Rightmove and Zoopla, and commercial lets on PropertyLink and MoveHut, in addition to its own website - says it ultimately intends to enter the online room rentals and property auctions sectors, too. 

It also aims to expand with a similar offer for the property markets of France, Germany, Greece and the Netherlands.