Looking for opinions?

courtjester

Lizmail1000 - unless you have blue chip backers and several million to invest in launching your service, now is NOT a good time to be setting up a new website in the property arena, as others are coming into this area very soon.

However, what you are talking about is an adjunct to traditional property location services which *can* work in small local areas, subject to existing competition, but it comes with its own set of financial and practical problems, so don't think the grass is greener...

RabbitMad

I think the sellers using use to gauge an interest will still need HIPS. As for the "I'm Mr X I'd like to buy your property" side of your business, although HIPS are potentially avoided - I think that very few people would agree to sell.

In fact if you knocked on my door saying I have a client who would like to buy your property - can I come in and have a look around I'd think you were a bugular scoping for your next job and tell you to go forth and multiply.

Have you done a business plan? How many introductions would you need to do to each year in order to give you your current level of income?

I am constantly thinking of ways of getting out of my job that I dislike - but every business idea I come up with can't compete with the level I get paid to sit at my desk MSE'ing all day.

courtjester

You will only need a HIP if a property which would require a HIP (currently 4 beds or bigger not advertised before) is actually put on the open market - there is no marketing involved if a seller is approached directly by someone asking if they would be prepared to sell. It is a closed transaction, so no HIP would be required as the 'public' element isn't there.

Otherwise, I agree with rabbit that these sorts of ideas sound great in theory until (or unless) a full business plan is worked up and all the angles properly investigated. There is an incredible amount of work and even more expense involved in getting any business off the ground and the common mistake is believing customers will come because you open a service. :cool:

noyk

As a Potential FTB (a PFTB!) I think it could definately work, i am looking for specific houses in specific locations. Can't comment from a sellers perspective.

dunnomate

I think HIPs will eventually be shelved - as it will prove unworkable. No one will take it seriously and it will be scrapped. Bring in the scottish system !

Alan_M_2

Take a look at the American system, they have a system similar to this already, the buyer and the vendor have agents far more similar to the idea you're suggesting as opposed to what we understand and EA's.

This also already happens in the UK to an extent, usually people with too much money and not enough time will employ someone in this manner to do the searching for them, however, forget it if you think you'll be able to deal with normal houses, this is the preserve of 2-3 £ Million upwards.