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Zoopla.co.uk - revolutionary new website offering free listings and much more for residential estate agents

15th Jan 2008

Zoopla.co.uk, a revolutionary new property website, is set to become the must-use resource for everyone interested in the UK residential property market. Whether buying, selling or just curious, Zoopla satisfies the voyeur in all of us by providing free, instant value estimates on over 26 million UK homes, along with recent sold prices and much more, all in one place.

As the UK's first community property website, Zoopla.co.uk allows agents to list homes for sale FREE and to engage with consumers directly using the unique AskMe feature. Agents can promote their listings completely free on Zoopla and gain more exposure to potential buyers, as well as create a profile to build their reputation by sharing their knowledge with the Zoopla community.

Another unique feature of Zoopla is TemptMe which allows potential buyers to make offers on ANY UK home and owners to test interest in their homes without listing them for sale. Estate agents can benefit greatly from this feature in terms of developing their pipeline by tracking homes where owners might be willing to entertain offers at the right price and seeing which homes and neighbourhoods are receiving the most TemptMe offers.

Alex Chesterman, founder and CEO of Zoopla, commented: "Zoopla provides the perfect online platform for estate agents to market their listings for free, whilst at the same time building their reputation and letting users learn more about them. By engaging directly with the community, estate agents now have the opportunity to extend their marketing reach for their listings and establish their profile and reputation in a competitive marketplace."

Visit www.zoopla.co.uk today for free value estimates on over 26 million UK homes, sold prices, free listings and greater exposure for your business.

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For further information, please contact Tim Vooght at pr@zoopla.co.uk or on 020 3872 5615.

Notes to Editors:

What is Zoopla.co.uk?
Zoopla is a revolutionary online publishing service and community website providing information and tools to give users an advantage in the UK residential property market. Our aim is to create a transparent marketplace and we believe that information should be free and easily accessible to everyone.

How did it start?
In early 2007, following the success of bringing DVD rental to the internet with LOVEFiLM.com, Zoopla founders Alex Chesterman and Simon Kain realised that the internet had yet to deliver meaningful change to the UK property market. It became clear that consumers lacked essential tools and information to help them understand home values, view similar properties, learn about past transactions...

...and then we thought:

  • Why not offer users a tool to get access to FREE, instant value estimates on their homes or anyone else's?
  • Why not let buyers make offers on ANY home, instead of just the 4% of homes currently on the market 'for sale'?
  • Why not let owners find out if there is any market interest in their homes without having to list them 'for sale'?
  • Why not let agents and sellers market their 'for sale' listings FREE by providing them with easy-to-use tools?
  • Why not let anyone ask/answer questions and share their knowledge about any homes or neighbourhoods?
  • Why not put current value estimates, sold prices, homes for sale and local information all together in one place?

So, we have started by providing FREE value estimates and sold prices on homes, allowing sellers and agents to list homes for sale FREE, and letting all users edit information and upload photos. We have also launched some unique features, like TemptMe™ and AskMe™ which allow users to gain an insight into the market and discover information they won't find anywhere else.

Value estimates
Our value estimates are calculated using a proprietary algorithm (secret formula) that we have developed by analysing millions of data points relating to property sales and home characteristics throughout the UK. The algorithm works by comparing relationships between home prices, economic trends and property characteristics in given geographic areas. Our estimates are constantly refined by our team of analysts, using the most recent data available and a variety of statistical methodologies, in order to provide the most current information on any home.

Zoopla Limited is a privately held company, backed by leading international venture capital firm Atlas Venture.

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