Online estate agency Tepilo has denied industry speculation that it is to change its fee structure now that it is under revised ownership.
There had been rumours that the agency - founded by TV property expert Sarah Beeny - was experimenting with alternative pricing and would change its charges as part of a more fundamental restructure following Beeny’s departure as director last month.
Tepilo is believed to now be controlled by Northern & Shell Ventures, a division of publishing group Northern & Shell which says it focuses on “young and innovative companies that have already reached a certain level of market maturity and are in an ideal position to benefit from enhanced media exposure.”
However, a statement from Tepilo to Estate Agent Today says there is no move to alter its current charges: “No changes to the agent’s pricing structure have been made, and the business will continue to run as normal, headed by chief executive officer Nick Charnock.”
Tepilo - which began life as a ‘for sale by owner’ service and then five years ago switched to the online model - offers three options to vendors.
The ‘essential’ option costs £645 including VAT for the typical online basic service along with what the agency calls “a Sarah Beeny For Sale board”; the ‘classic’ option, which it says it used by 83 per cent of its customers, has the basics and board plus professional photography and floor plans; finally the ‘premium’ includes premium listings on Rightmove, Zoopla and PrimeLocation and costs £1,295.
EPCs and virtual tours attract additional costs.
With both the Tepilo website and its social media presence continuing to make extensive use of Sarah Beeny’s name and image, it was no surprise that the agency has repeated to Estate Agent Today commitment that the TV star remains a shareholder in the firm and will continue to be its public face.
In recent months several online agencies have revised their pricing plans.
For example in November eMoov launched a no sale, no fee payment plan; meanwhile easyProperty has dropped its offering of consumer credit agreements following meetings with its licensees last month.
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Or (C.) Not making any money !
Yep, not making any money, and as a well known property TV "expert" I'll jump ship now before my reputation is lowered even further.
How odd, a business model based on unsustainable cost against minimal income. Sounds like a really great idea. Perhaps Ms Beaney can make a new program on how to repair the business that took her down, much like the renovation of her mansion...
A most stupid name ever ! Tepilo !!!!!!!!!!!
I was so not taken by the name ,that I emailed them to tell them.!
One look on Rightmove and you can see their success (I think not !) stupid name !
About 10 years ago she predicted that by now 50% of properties will be sold via ‘online only’, how wrong was that? I wonder if she predicted running a cash losing business for several years only to sell it as she was not only losing credibility but also probably had to bail out prior to it going bust.
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