A cheap online estate agency service is being launched with the backing of Tesco.

Estate agency Spicerhaart is initially targeting the Bristol property market with iSold.com, which is being advertised on the Tesco website.

In 2008 the supermarket giant sold its Tesco Property Market business to Spicerhaart.

The estate agent told the BBC the Tesco enterprise had not simply been re-branded but had been replaced by a completely new business.

Instead of charging standard estate agency fees based on selling price, a basic online selling service at iSold will cost £999. Tesco had also been charging a flat fee with its Tesco Property Market Business.

Although Tesco would not comment on the agreement, the supermarket pointed out that it had a similar link-up in place with Interflora.

Read more
OFT paves way for return of Tesco property website (19 February 2010)