Rat and Mouse
primelocation
Fri
31
Mar
Buyers, vendors dating game

March31myp.jpgShortly after the whole Whistleblower furore, we were contacted by a website that promises to pair buyers with sellers in a new way, and cut the agent out of the whole deal from the start. MatchYourProperty is interesting because it's a repository for buyers, not sellers. Buyers register for free - and then wait for suitable sellers (who pay for the privilege of access to the list) to contact them. I know what you're thinking... It must be crawling with estate agents sweatier for the good leads than Shelley Levene. I'm told, however, that they screen hard, and the T&Cs include this:

In the event of the discovery of any unauthorised use of this website resulting in the subscriber obtaining a fee or commission from any party, the subscriber agrees to pay to the operator a sum equivalent to the said fee or commission together with an additional sum of fifty per cent of the said fee or commission agreed as liquidated damages in recompense for the operator's costs of detection and investigation of the said use and receipt.

The advantages are obvious - much lower fees and, for buyers, a chance to check out the good stuff first, before it reaches the market. And - because the site doesn't qualify as an agency - a seller can use it at the same time as an agent without breaking a sole agency agreement. The disadvantages? The responsibility for checking out the financial status of a potential buyer will reside entirely with the vendor - and, trust me on this, sometimes it's difficult to spot the nutters. MatchYourProperty's owner tells us she's received a huge amount of interest since launching at the end of last year, with particular action in the Battersea, Swiss Cottage and Clapham. Let us know what you think.

Comments

Potentially it can change the way houses are bought and sold. More and more people are selling online and it will continue to grow.

http://www.e1buytoletmortgages.co.uk/forum/

Posted by Buy to let forum at March 28, 2009 12:57 AM

Comments

Great idea, thanks for this tip!

Posted by LuisaMaers at July 23, 2009 11:17 PM

Comments

I cannot believe this will work!

Posted by Money Chris at July 24, 2009 8:33 PM


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