Hamptons plans to scrap free Hips
Monday, 26 November 2007 12:00 AM
Hamptons International is preparing to end its policy of free home information packs (Hips) for its customers in all areas except London.
It was reported this morning the scheme was not attracting new customers to the company, and was thus economically untenable.
"Free Hips are not attracting new customers for us in the country so we are re-thinking the strategy," Marc Goldberg, London regional director for Hamptons, told City AM.
"It is not value for money in the country because it is not providing an inflow of extra customers."
The news comes just a week after the government announced an extension of the scheme.
Following last week's announcement by the housing minister, Yvette Cooper, all homes on the market in England and Wales will now require a Hip from December 14th.
Hamptons will continue to provide free Hips to those in the capital, but will scrap them everywhere else in the country, according to reports.
The company's policy also stipulates if a seller withdraws from a sale with Hamptons they must repay the whole cost of the pack, with Hamptons then allowing sellers to take their pack to a new vendor.
At present the estate agent is one of a small number which offers the packs, which cost £300 to £600, for free.
However, there have been reports of agents sinking into debt while offering the service.
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