Posted by: housingdabble | February 11, 2010

Another chain free property site…

Spicer Haart have launched site to join the growing list of sites for investors and home buyers to search for the latest property bargains that ‘must be sold’.

This space already has two specialist sites whitehotproperty (owned by the affinity network movewithus) and (An independent company headed by Dominic Toller formerly of LMS) along with dedicated sections on the Primelocation portal and the your move agency web site.

Concentrating on the three dedicated chain free property sites it’s interesting to see why Spicer Haart have made the move into this area. There may be a number of benefits they can see from having their own dedicated site, but the main win for them has to be in counteracting their main competitor’s usp when pitching the lenders for resale repossession properties.

Since movewithus launched their whitehotproperty site in 2008 they have made a huge impact and increased their share of the UK repossession market place (at a time when this type of listing has been highly sought after) and this is partly down to this portal giving them a USP over their competitors. Lenders and new home developers certainly like the idea of their properties receiving special attention by having a dedicated area for showcasing these properties away from the general market.

On close examination whitehotproperty has significantly more properties than the other two sites and offers a superior customer experience, but with not limiting their listed properties to just their own branch network it surely won’t take long for them to close the gap in volumes and then it will be down to attracting traffic.

I’d say for now that Spicer Haart have some way to go to catch up with the whitehotproperty site, where being first has clearly been a big advantage, but I also wouldn’t expect them to be the last large group to launch such a site with the other big players in the repossession market surely watching very closely.

If you’re an investor actively looking for property online what have your experiences been of these sites?

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