UK-based real estate agency and website NetMovers is now giving its users the option to manage the sale of their own home through a partnership with auctionmove.co.uk.
auctionmove.co.uk is somewhat similar to eBay in that it allows sellers to set a reserve price on their listing and the highest bidder is obliged to pay a deposit on the property. But unlike eBay, auctionmove.co.uk does not charge sellers any fees. Buyers pay the website a fee of three percent of the final sale price plus VAT if they win an auction.
Now, this same online auction model will be available to NetMovers users. Rick Jones of NetMovers operations and development explained:
"We recognise the need for online property auctions, but we’ve never been able to secure a partnership where we can offer the full facility of registering the property at auction. There is a niche in the market but we understand it will take a long time to develop trust for both investors and vendors, to opt to use this way of selling and buying property."
NetMovers, which recently launched a "green" property search option, operates on a no commission basis and claims its website contains over £3 billion worth of property. It is a division of the Reach Global group of companies, which also includes online marketing company Adrac and the Searchers search engine.