60 second start-up: sellmyhome.co.uk

0-5 seconds: Sum your business up in a sentence:

Empowering vendors with the tools to sell their property and avoid excessive agent fees.

5-10 seconds: What's the business model?

Vendors pay a fixed fee (starting at £499) upfront, rather than a percentage of the property value on completion to the high street agent (UK average is 1.8%).  The service is the same (actually it’s a lot better) and all the vendor needs to be on top of is the viewings, which they conduct themselves.

10-15 seconds: Who are your competitors?

High Street Estate Agents

15-20 seconds: What's your USP? 

Our customers would say the vast sums of money they save by using us.

20-25 seconds: How have you funded it so far? 

Private investment

25-30 seconds: What were you doing before?

Henry: a strategic planner within numerous advertising agencies in London

William: a Chartered Surveyor at Knight Frank

30-35 seconds: Where did the idea come from?

Henry had a terrible experience using an estate agent many years ago, and ended up selling the property himself online.  That was the eureka moment, realising there must be a more modern way of selling that utilises the power of the Internet

35-40 seconds: What's the smartest thing you've done so far?

Invest in our ‘Ronseal’ style web domain, so we don’t have to spend our marketing budget educating everyone what we do

40-45 seconds: What's the stupidest?

Budgeting for web development costs, and not realising how much needs to be spent on an ongoing basis.  I never enjoy explaining this in the board meetings.

45-50 seconds: If your business was a biscuit, what would it be?

A Gingernut because we're spicing up what is otherwise a bland and one-dimensional industry 

50-55 seconds: Which idea are you a bit jealous of?

Transferwise.com – love their aggressive anti-bank stance.  Inspirational and ballsy

55-60 seconds: Where are you going to be in 12 months' time?

Hopefully sitting here (probably in a bigger office) content that we’ve saved thousands of vendors lots of money in the past 12 months

To find out more about sellmyhome.co.uk click here. You can also like them on Facebook or follow them on Twitter.

Catch up with our previous 60 Second Start-Up: Rentify 

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