Househunters use internet to cut out the middle man

MOST buyers already use the internet to find their homes and the number of homeowners bypassing estate agents to sell their property online is gradually growing.

Private seller websites in particular have gained ground in recent years as sellers have become more confident and sophisticated. Websites including The Little House Company, mypropertyforsale.co.uk and Tepilo.com, founded by TV property pundit Sarah Beeny, are enjoying increased business in a subdued market from homeowners bypassing estate agents to save money.

Auction website eBay has also reported a significant rise in the number of people using the site to advertise their homes. Hundreds of houses have been sold through the site over the past year despite the potential for legal problems, such as failure to comply with the 1991 Property Misdescriptions Act.

However, estate agents argue that sellers forging their own path underestimate the importance of professional valuations, price negotiation and market knowledge. And internet-based property services in particular could struggle to survive should the new Tesco-backed iSold service gain traction and the rumoured Google offering shake up the UK market.