By 2020 half of real estate transactions will be done online
According to research, by 2020 half of all property sales will be conducted online. In response to this growing change, EMOH, a new online property marketplace has launched today. EMOH is unique in its offering as it places control in the hands of the home owners as they are the best people to sell their own properties, cutting out the need and cost of estate agents. EMOH Founder, Haashim Rifai said, “the traditional method of selling houses through high street based estate agents is archaic."

LONDON--(BUSINESS WIRE)--It won’t be long before estate agents are a thing of the past. In fact, research shows that by 2020, half of all property sales will be conducted online.

In response to the changing culture, industry disruptors EMOH - a new online property marketplace, is launched today.

EMOH is not another online estate agent. It differentiates itself from the rest because it’s a marketplace similar to eBay, ASOS or Depop. EMOH places control in the hands of home owners who, the founders believe, are the best people to sell their properties and it cuts out the need for an estate agent, thus saving vendors thousands of pounds.

Founders, young entrepreneurs Haashim Rifai and Kamran Chaudhry, have created a platform that is both intuitive and simple to use, enabling home owners to upload their properties in ten easy steps, manage viewings and negotiate directly with the purchaser through to completion.

EMOH guides home owners through the sales process providing tips and advice on how best to market their property as well as offering an affordable range of optional services including professional house photography (£99), valuations (£19.95), and an EPC, photos and floor plans for just £249 – the maximum outlay.

With estate agents fees ranging from 1%-2.5% around the country, the saving is not insignificant, especially in London where the average house price is around £500,000, meaning that a home owner would be charged fees of between £5,000 and £12,500 + Vat at 20% to move.

Haashim Rifai says, “The traditional method of selling houses through high street based estate agents is archaic. Since most people start their search online before getting in touch with an estate agent, it makes sense for the homeowner to sell his property himself.”

Kamran Chaudhry says, “The industry has been slow to change and although online estate agents have emerged in recent years, they have merely copied the existing business model and taken it online charging fixed fees of £400 - £800 to sell a property. In my opinion, online agents also unnecessarily insert themselves between the home seller and home buyer and their arrival does not count as industry disruption.

Haashim Rifai concludes, “With the arrival of the Internet, people booking a holiday now go directly to the provider, and as a result, travel agents have largely disappeared from our high streets. I think the same will happen to estate agents in the near future.

“When commissions are so high, would you rather sell your property yourself and spend the money on a holiday or a car, or give it to an estate agent? I know what I’d rather do!”

Go to www.emoh.com