Insurance News Archive
Asda plans free Hips
Supermarket chain Asda has announced that it is to enter the property market by launching a home selling service.
The firm could be the first of many supermarkets to establish a foothold in the property sector with a fully-fledged service akin to that of an estate agent.
The chain also has a sweetener in store for sellers.
According to the company, it will offer a free home information pack (Hip) service, meaning that sellers will not have to incur the cost of putting together the packs, which will be required for all sales from next year.
It is believed that sellers could save as much as £650 by avoiding the cost of compiling a Hip and the move could have a major impact on the property market, as concerns have previously been raised that the Hip scheme would put off many buyers and sellers because of the extra costs involved.
The National Association of Estate Agents (NAEA) has welcomed the move into the property market by Asda.
"The NAEA welcomes anybody; any professional estate agent entering the market, as long as they do insure that all their members of staff are competent, come up to minimum standards of training and our members have a recognised body," Chris Wood, vice president of the NAEA stated.
Mr Wood added: "Anybody who enters the business does so because they feel there is an opportunity either to create a market share or to competitively obtain a market share."
11 Jul 2006