United Kingdom, (PressExposure) October 29, 2008 -- GOOD news has been in short supply for home owners, especially those trying to sell.
But a new property website is set to breathe much needed life into the housing market.
Housebid21.com allows buyers to bid for property online, and find the best-priced houses in their local region easily.
âItâs a bit like an auction but without the drawbacks,â said chief executive, Michelle Sheppard.
âBids are not binding â the whole system is non contractual because buyers are indicating a price rather than entering a contract, until they decide they want to â but it really seems to stimulate activity in a sluggish market and get things moving.â
Already, buyers and sellers are welcoming the âtransparencyâ of the process because emails are sent automatically to all interested parties, keeping them informed of how the bidding is going.
âEveryone knows whatâs going on, everything is out in the open and thereâs no secrecy,â said Michelle. âWeâve found that buyers and sellers really like this aspect of the site.â
âLive property auctions attract relatively few people but the website can bring the auction process to anyone. Itâs completely accessible.â
She added: âHousebid21 [http://www.housebid21.com] can really help get properties moving, although vendors need to be realistic and prepared to discount, especially in the current climate.â
Michelle, who has a high street estate agency in Salisbury explained: âWhen the phone calls began dropping off and people stopped coming through the door, we looked around for another way of putting buyers and sellers together.
Vendors must register with a subscribed estate agent who places their property on the site where it stays for 21 days.
Clients can then view the property through the agent and place a bid [http://www.housebid21.com]. At the end of the three weeks, the vendor and highest bidder can negotiate, but thereâs no obligation to buy.
The bids confer âpreferred bidderâ status only and a vendor can accept a bid at any time.
The idea was piloted by Michelle with several properties from an agency in Wiltshire, all listed at competitive prices.
âAlmost instantly the agent received significantly more inquiries for viewing, with buyers latching onto the concept quickly and being reassured that all they were doing at that point was indicating a price.â
She added: âHousebid21 generates interest in properties through the power of the internet and draws buyers in.
âIt also gives a vendor a clear idea of what the market will bear and what a realistic price [http://www.housebid21.com] is for the property. And letâs face it, there has been a lot of overvaluing in the past.â
About Housebid21 Housebid21 is a new online property auction site that allows customers bid on house without any ties. Launched recently, Housebid21.com has attracted 12,000 hits a day since its launch in September.