Tepilo has always been about giving people control and saving them money. Our new estate agency service carries this idea forward.
When we started our business we weren’t sure how things would evolve. But we wanted to see whether there was an appetite for people to sell their homes themselves. Turns out there was. In fact 20,000 of you have added your properties to Tepilo over the years and we’ve had over 45,000 registered users. But, people who sell their homes privately still represent a small section of the overall market in the UK and, whilst Tepilo is by far and away, the leader in its field, there wasn’t an obvious way that we were going to monetize what we were doing. And, like any business we ultimately need to make money, because let’s face it not many of us want to work for free forever.
So we thought we should make the most of all of our hard work and speak to some of the tens of thousands of people who have used our site to find out what you want. We picked up the phone and spoke to some of you and we quickly discovered that, whilst you really liked the simplicity of Tepilo, you also wanted some of the advertising clout and services that an estate agent brings.
In fact most people we spoke to said that they wanted to see their properties advertised on leading portals such as Rightmove, but the reason they were interested in Tepilo was because they didn’t feel that they necessarily needed to engage a traditional estate agent to show people around their homes. We asked the question, if we provided a service like this, would you be prepared to pay? And the majority of people said, Yes. If the price was right.
So, along with the rest of the team here at Tepilo, we started to look at ways in which we could carry on what we’d started but give our customers the additional bits they were asking for. What if we could take the component parts of the services traditional estate agents provided and allow people to pick and choose the ones they wanted? And what if we could do this at a vastly reduced cost by delivering it all online?
In order for this to work, we knew we needed to bring some other people on board: people who could manage the logistical side of delivering a nationwide estate-agency service. We scoured the country and found some guys who had been thinking along the same lines as us and had a great deal of experience and we decided to join forces.
And so the concept of Tepilo, the modern estate agent was born. People can upload their property simply and we'll conduct the legal verification requirements and be there throughout the process, but they can also pay to promote their property to a wider audience on Rightmove, as well as choosing optional extras such as an EPC, photography or a For Sale board. The main thing is that people only pay for what they want and all for a fraction of the costs some High Street agents are charging.
We’re by no means pretending that there won’t be a place for the traditional estate agents, but we think that Tepilo offers an alternative that some might find appealing. In many ways, we see what we’re doing as being similar to the travel industry over the last decade or so: there is still a place for traditional travel agents, especially for unusual holidays, but there is also an appetite for people to use the internet to keep their costs down and be more in control of what services they are buying.
The next few months are exciting times for Tepilo with a new site, a new offering and a newly expanded team. Personally, I’m really excited and I can’t wait!
Sarah Beeny xx