The expected house-selling revolution, where owners would avoid crippling agents' fees by marketing their properties online, never happened. Will it ever?
What happened to the DIY house-selling revolution that was supposed to kill off greedy estate agents and save homeowners thousands?
The widely forecast shake-up of the housing market, where homeowners shunned costly agents and instead advertised their own homes on the internet, has never materialised. While the ambitious few do set up a website to showcase their home and conduct their own viewings, most vendors still turn to traditional agents and pay a hefty commission of 1pc to 2pc to do so. And, thanks to rising house prices and increased activity, those agents are making as much or more money than ever.
Even the property expert Sarah Beeny has acknowledged the wholesale switch DIY home-selling has not lived up to expectations. The star of television programmes such as Property Ladder and Help! My House is Falling Down started her own sale-by-owner website four years ago. "It's laudable that people wanted to take control of the situation but you are unlikely to sell that way," she says.