Airline entrepreneur Sir Stelios Haji-Ioannou has unveiled his latest no-frills business idea, an online estate agent called easyProperty.
The venture, for which he is seeking crowdfunded capital, will rival relative newcomers Rightmove and Zoopla in a bid to unseat traditional estate agents by offering cut price services.
Users of the website will be able to pick and choose the package they would like, including advertising, photography, tenancy agreements, mortgages, surveys and other property services. They will pay no administration fees or commission.
The new company is being launched jointly with property entrepreneur Robert Ellice and the duo are looking to raise £1m to launch the venture. Investors will get a 1.5 per cent stake in the firm.
The company is set to launch in the UK later this month as a lettings-based business, before expanding to include sales. Eventually, easyProperty will be an international brand, Stelios has said. The businessman is understood to already have 10,000 properties pre-registered on the platform ahead of its launch.