ASDA has confirmed it is to launch an in-store home selling scheme, designed to undercut estate agents fees, and will include a free Home Information Pack (HIP) in the deal.
Offered by Homes@Supermarkets, ASDA will have touch screen terminals in its stores displaying properties for sale. Announcing the supermarket’s move into the market, Gev Lynott, financial services director at ASDA, said: “We’ve bought ASDA value to everything from handbags to hamburgers and now we’re doing this for house sales as well.”
Stephen Atkins, managing director at Freedom Finance, feared ASDA would not stop at house-selling, and could move into other areas, such as mortgages. “I can’t believe that ASDA will simply offer a property service, and then walk away. I would expect them to offer additional services, which could take business away from brokers.”
However, Alan Dring, sales director at eConveyancer, said the supermarkets move into the housing market could provide the boost the HIPs sector needs. He said: “When ASDA first came into the housing market in the early 1980’s it had a very impressive proposition, but it did not last that long. It will be very interesting to see its new proposition and the costs, if it plans to give HIPs away for free. Will ASDA be willing to sacrifice quality for quantity?
“ASDA has the financial clout, can buy the expertise and could be a big player in the HIPs market. It’s no bad thing and is a call for the market to realise the impact of HIPs.”
ASDA has said the Homes@Supermarkets proposition will be launched in 10 stores in the North East, with plans to expand the system nationwide if the pilot proves successful.
