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Tepilo the Napster to Estate Agents

Tepilo the Napster to Estate Agents

Tepilo or 10 grand to your preferred estate agent?
Sounds a strange choice as Tepilo is a free way to advertise your property on-line. For me it’s a no brainer. The world is changing. The way we purchase movies and music, the way we shop, the way we communicate. It’s just a matter of time for someone to break through with a new way to sell property. Tepilo went live last summer and now seems to be ready to make its impact on the property market. It’s even promising to release a Tepilo magazine.

Tepilo.com has seen a huge increase in traffic this summer and is on the verge of hitting the tipping point.

Tepilo has also promised a section to tempt home owners into adding there property to see what the market will pay – this sounds an amazing feature if it works.

Sarah Beeny provides a reasonable view on where Tepilo fits into the market. She reiterates that many agents are experts in their areas, especially for highly unusual properties towards the top end of the market. It’s unfair to ask sellers of less unusual homes to pay thousands in fees.

Tepilo


It seems that some in the industry are finding Tepilo hard to swallow. Sarah Beeny’s house sales website has seemed to of upset a few estate agents recently, in a similar way the record industry took a while to get their heads around a legal music download site like Napster or iTunes. Now of course they all work with it. But the likeness remains that the industry needs to think in a different way.

Why Tepilo compares to Napster?

Don’t get me wrong, I’m talking about the legal Napster here. It could be said that the difference is iTunes and Napster do make a lot of money, whereas Tepilo is totally free. But it’s worth noting that Tepilo isn’t for the whole market share. Not every type of property would find it useful. It’s unlikely that a unique property will use Tepilo as an agent has value in knowing the market and providing a service of local knowledge.

Imagine you have a property that has similar features to the other 80 properties in the same road; Tepilo is the tool the web has been waiting for. It’s not too difficult to know what a fair asking price is when you have knowledge of the actual selling price of your neighbour’s house 6 months ago. Ok there may be a few differences and market changes, but that’s not a heavy challenge, simply make the appropriate adjustment to the asking price.

Sarah Beeny has provided some good reasoning for estate agents to ponder on before they get too upset with the Tepilo site. She says “I’m a little surprised at how childish they are. Instead of saying ‘Sarah Beeny’s thick and should get back in her box’, agents should surely have been explaining how good they are, emphasising their services. But no…”

Tepilo looks set to stay as it Beeny advocates “Everyone starts their search for a new home online, and estate agents know that. So you can put your own details up on a free website [Tepilo] or you can pay £10,000 to an estate agent to put them up. I can think of plenty of better things to do with 10 grand”

posted by Zane in Buying,Estate Agents,Guide,Property and have Comments (10)

10 Responses to “Tepilo the Napster to Estate Agents”

  1. Social comments and analytics for this post…

    This post was mentioned on Twitter by YourRightMove: New Blog Post: Tepilo the Napster to Estate Agents http://bit.ly/ak8rp0

  2. Proper Property says:

    i think the Tepilo way
    is the way forward

  3. yang says:

    nice information… it’s valuable…

  4. [...] as much as I’m not a massive fan of estate agents, and as keen as i am for something like Tepilo or another on-line estate agent to succeed, I suddenly realised there is a real value in another [...]

  5. [...] us with a free estimate of the value of our property, knowing that is all we wanted of course Tepilo and Zoopla offer an online guide, but its not quite the same. How many Estate agents are keen to [...]

  6. [...] for our novice guide to using Tepilo.com in the coming weeks. Meanwhile we did reveal the power of Tepilo a long time [...]

  7. Tepilo Tools says:

    [...] week Tepilo added some more new useful tools that seem to be going down very [...]

  8. Rather funny, we wrote a blog comparing Tepilo to Napster! Though we stated its more than just the theme of ‘free’ but more the legal aspects which are un-clear, something in which the property misdescriptions act may not cover correctly currently. Big changes in legislation will need to be made to cover this new bread of outlet.

  9. Agentwhy says:

    Estate agents should work for qualifications to enable them to do something else rather than skim their fee without much value to the educated seller – the revolution in house selling is happening. Maybe ‘estate agents brighton’ would benefit from English schooling, or are the selling Bread?

  10. I feel that tepilo will only appeal to a niche market as most people don’t have the time or confidence to sell their house privately. I believe that the future is going to be with online estate agents, who offer a similar service to a traditional estate agent but for a much lower fee!

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