October 14 2007

Tesco will have to become an Estate Agent

... in addition to being a grocer, of course! The Office of Fair Trading determined it was acting like and estate agent and so therefore should register as one (abiding by the rules that govern estate agents).

The story is carried in today's Times Online so I won't rehash that. I'll simply refer you to the linked Asda-trials-estate-agency-romp story that we posted last year and wonder aloud what areas of the UK's commercial sector is safe from the supermarkets. While no-one's going to shed many tears for the poor estate agents one must also recognise their cockroach-like resilience over many years and therefore look forward to a good scrap in the coming years... All on the back of a softening housing market too...

by Ian Jindal