The Age of the Supermarket.

1st May 2006

T. Wyn Jones

I heard something the other day that had long been rumoured in the profession namely the official announcement that a number of the major supermarket chains were moving into the Estate Agency business.

It appears that ASDA will become the first British supermarket to break into the property market offering homes for sale alongside its more common wares including groceries, clothes, household goods and lately insurance. It appears that these giant companies feel that they will be able to bring something new to the market place - at their competitive rate.

On the face of it this seems a very good idea, after all competition is good for business but as to whether these giants can offer the service that is required remains to be seen.

Any recent house seller will tell you that advertising their property and subsequently agreeing the sale of such is only part of the Estate Agent’s job. What happens after agreeing the sale matters as much.

In the current market climate of house sales taking approximately 8 weeks from the date of agreeing the sale to exchange of contracts the agent earns his weight in gold in the work he does after agreeing the sale - from constantly liasing with parties in the sale chain, encouraging solicitors to proceed with the utmost haste and negotiating between seller and purchaser in respect of fixtures and fittings included in the sale, moving dates et al.

Experience tells me that personalities play a major part in the process of choosing an Estate Agent. Face to face contact between Agent and Seller is a must after all if you are relying on a person to sell your most important asset for the best price possible you must have complete confidence in them. It is not a simple case of getting the job done for the cheapest price possible, as this route will not ensure that you get the best price for your asset. Quality of service does come at a price and as the saying goes if you pay peanuts you get monkeys.

So far from worrying about the Supermarkets entering the Estate Agency field I welcome it as I am sure that there is a place for them in the lower end high volume market.

Let’s take a leaf out of the Ludlow butcher’s book. A town with a population of approx. 9,000 and an established Tesco store with parking and yet 4 independently owned & thriving butchers, the key – quality and personal service.