Sarah Beeny giving Estate Agents a run for their money

I'm bigging it up for Sarah Beeny.  Talk about multi-tasking!  Whilst doing a telephone interview with me, she's dropping her son off at Nursery, buying food for a photo shoot at Waitrose and heading off on location.  It'll come as no surprise then that she has four boys under 5 years of age (and that's no mean feat, let me tell you!), runs two very successful online businesses and has a busy TV career.  Have I missed anything?

I'm talking to Sarah today because I want get a handle on Tepilo, her free online house buying, selling, renting, sharing site.  She often twitters about it and I kind of always wondered 'how does that all work, then'? 

Here's the gist.  Stick with me, because it's good.  You're a buyer, looking to buy a property.  Where's your first port of call?  These days it's on-line.  It doesn't matter to you whether the property of your dreams is on the market with any particular Estate Agent.  What matters is that it's in the right place at the right price.  Now, here's the ruse.  Sarah tells me that Estate Agents have a monopoly because they're the only ones who can access the major on-line search portals and all of us head like lambs to the slaughter.  The slaughter being the highly inflated fees Estate Agents can charge on property sales. "You're paying for their branded cars, their shop fronts and all their sales staff", bemoans Sarah.

Now, if you buy a property that's listed on Tepilo, you'll pay sweet FA.  Nothing, nada, zilch.  If it's the right property, at the right price, it's yours with no fees whatsoever. What's more, the stress of arranging multiple viewings and negotiations takes place on line too.  Sarah explains "all communications are managed through the site, at arms length. If you like having an agent buffer!"  Cool!

So, is it working?  Well yes. The site has not even been launched a full year yet and Sarah tells me "that's what's so exciting about it.  Hundreds and hundreds of properties have sold and are selling all the time. I've had fab feedback.  One email said 'This is great, Thanks.  Nine months with an Estate Agent, 3 viewings.  One week with Tepilo, 10 viewings".

So, anyone interested in buying commission free in Balham?  Top end, there's a lovely 2 Bed, 2 Bathroom garden flat in Ravenslea Road up for just under £420K, saving a whopping £8,400 on a 2% commission fee, or a down a notch price wise with the same commission, a 1 bed on Fernlea Road for £295K, making a saving of over £5,700. Sellers, sounds like you need to be there too.

What's not to like about that then?  Any comments, feedback or shared experiences?  Love to read them below!