Interesting feature in the current edition of Overseas Property Professional magazine, that emphasises the current revolution building steam in the property world. 

Journalist, Alex Evans takes a look at the rise and rise of Private sale web sites.
The feature starts:

‘With public perception of estate agents at an all-time low, just how serious a threat to your livelihood are private sale portals?’

It goes on to say;

‘The Ombudsman for Estate Agents recieved more than 8,000 enquiries from customers last year, compared with 6,021 in 2005. A poll by YouGov on behalf of ITV1’s consumer affairs programme, Tonight with Trevor MacDonald, found that 64% of survey respondents don’t trust estate agents. More than two-fifths (43%) believed agents were over-paid. “You’re charged on the basis of the value of your house rather than the amount of work taken to sell it. It’s essentially like a beggar demanding 3% of what’s in your wallet,” says Nick Wright of Wow Property.

‘The Tonight poll also highlighted the rise in popularity of private sales websites… ‘A study from Halifax Estate Agents found that the number of people who felt they needed to look around a property has more than halved…‘It also found that 80% of buyers use portals to research homes before calling an agent, so decisions have already been made before the agent steps in.’