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Agencies & People

Online estate agency take to task over ‘sell for £1’ claim

Advertising regulator the ASA warns agency not to repeat claim when offer in fact comes with conveyancing strings attached.

Nigel Lewis

online estate agents

An online estate agency based in Manchester has been asked to take down claims that it sells and lets property for just £1.

The request has been made by the Advertising Standards Authority (ASA) following a complaint by a member of the public seeking to sell their home.

They were miffed that, after clicking the agent’s ‘Sell Your Home for a £1’ button on its website, they were taken to a page entitled ‘Sell you house online and save money’ that made it clear the £1 deal came with strings attached.

The vendor told the ASA that these required them to either use the agency’s conveyancing service for a fee, or pay to opt out.

Consequently, they challenged whether the ‘Sell your home for £1’ claim was therefore misleading.

Concerns

“We approached My Online Estate Agent with the concern that had been raised and they agreed to remove the claims,” an ASA spokesperson says.

My Online Estate Agent was established six years ago and has directors with background in student accommodation development.

It’s model is very similar to several online estate agency firms including, most famously, Strike, which offers a free property sales service and then upsells services to vendors and buyers but – unlike My Online Estate Agent – without strings attached.

My Online Estate Agent offers a £1 basic portal listing service that then offers a dozen bolt-on services from a for sale board (£50) to 3D tours (£249); a £249 mid-level service and a £449 premium services. It currently lists 67 properties on Rightmove.

Read more about ASA.

January 20, 2021

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