A new website which completely by-passes all kinds of estate agents and allows vendors to upload details of their own properties for £65 has been launched.
OkayLah requires sellers to upload their own descriptions and photos, which stay on the website for as long as they wish, and included in the fee is a For Sale or To Let board.
Sellers are advised to check the Land Registry for recent comparable sales in order to arrive at an asking price. The website advises: "Every home is unique, so the best person to decide how much your property is worth is you."
Because it is effectively a For Sale By Owner service, the property listings on OkayLah do not appear on Rightmove, Zoopla or any other portal. Viewings are arranged by interested buyers contacting the vendor directly via the website's message board.
Yorkshire businessman Paul Telford, who is behind the website, says online technology and the lack of regulation within the agency industry have liberated the house selling process and created opportunities for online agencies which - he says - typically charge £500 to £850.
"Whilst these changes have promoted greater competition within the estate agency sector and reduced the overall cost of selling your home, the range of online options is currently limited to property portals - which tend to be used by traditional estate agents to give their customers an online presence - and online estate agents, which typically require customers to sign a finance agreement that burdens them with financial penalties and contractual obligations" he says.
He says that traditional agents "offer very little" and adds "it’s about time that the customer took control of the process."
He claims OkayLah works with "more than 300 qualified experts nationwide" and for additional fees will add Energy Performance Certificates, floor plans and professional marketing photographs” amongst other extras.
The site launched earlier this week and Telford says: "The feedback that we’re receiving so far is that it’s a refreshing and welcome change from the other options on offer within the estate agency sector."
You can see the website here.
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Give it 3 months ? No rightmove No Zoopla - NO BUYERS !!!!!
If this does carry any weight, just wait for the first case of a buyer against a seller direct for breach of CPRs. The subsequent publicity will make people think twice about selling privately.
Hello Richard,
Once a client accepts an offer based on the agreed terms this is confirmed in writing with a Memorandum of Sale (for England and Wales Only). This is a very simple non-binding agreement which is forwarded to both conveyancing solicitors, so as with any sale this is a non-binding agreement which has been agreed by the two parties after viewing the property. We do not suggest nor recommend the property is sold without the involvement of a Solicitor so the process remains the same, other than the client taking full control over the selling processes up-to the memorandum of sale. The clients property page and free For Sale or To Let board are tools to be used by the client to encourage viewings, then negotiations will begin if there is a level of interest by both parties so the status quo remains the same.
Kind regards,
Paul
It looks like they currently have 5 properties available and the text set up is wrong on the further information
Hello James,
Thank you for your comments, we launched the concept this week so hopefully the demand will increase over time, the very best we can do is offer our services and let the customer decide, the OkayLah.co.uk business model is based on the proposals set out in 2012 with the deregulation of the sector which was introduced to encourage technology businesses to offer their services with a view of increasing competition, lowering the cost to the consumer, improving the level of service whilst stimulating the market. We should always embrace new innovate businesses, its how we evolve focused on the customers needs and currently there are many new and exciting concepts approaching the market, many will fail and only a small number will succeed, those who succeed are those who appeal to the customers needs, desires and expectations.
I would be interested to receive further information regarding your comment
"and the text set up is wrong on the further information"
My email address is pt@OkayLah.co.uk.
Kind regards,
Paul
Hi Paul
I hope you new venture goes well.
If you click on the link of 'Millford at Hurst Lane' the description text is muddled:
(6.04 x 4.74m (19?9?? x 15?6??))Lounge (5.77 x 3.24m (18?11?? x 10?7??))Utility (2.22 x 1.88m (7?3?? x 6?1??))Wc (1.79 x 0.9m (5?10?? x 2?11??))FirstBedroom 1 (Double) (5.2 x 3.82m (17?0?? x 12?6??))Ensuite 1 (2.24 x 1.92m (7?3?? x 6?3??))Bedroom 2 (Double) (4.16 x 2.71m (13?7?? x 8?10??))Bedroom 3 (Double) (4.06 x 3.36m (13?3?? x 11?0??))Bedroom 4 (Double) (3.53 x 3.12m (11?6?? x 10?2??))Bathroom (2.91 x 1.95m (9?6?? x 6?4??))About Pembridge Park Ph 2,AuckleyPhase 2 of Pembridge Park offers a selection of luxurious 2,3 and 4 bedroom homes in 10 stunning designs in Auckley, close to the prestigious Bawtry Road and near to vibrant Doncaster.Residents can enjoy the high quality build and finish of a David Wilson home in a fantastic village setting and with local amenities available there is...
all the best
Paul, your opinion that traditional estate agents do very little is misconceived, like your (little) venture, sorry for being so blunt but I think you have to be prepared to take it if you are happy to dish it out
Thank you James,
That was a test property so i've just removed it from the site.
Kind regards,
Paul
Hello Simon,
There will always be a market for estate agents who offer a superior level of service and value for money to their clients, those who focus on contractual obligations and then legal enforcement to generate their income will fall by the wayside. So yes we have very little contempt for those estate agents who rely on legal enforcement but have the highest admiration for those who "do as they say" and meet their clients expectations.
Kind regards,
Paul
Well I can’t argue with that :)
Better to put an add in the local shop window ! or put your own "for sale board" up
Time all agents got real and brought their fees down to the hundreds,not thousands.
Time too news papers woke up ! and advertised property like they do cars ! at cheap rates.
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