The comments follow reports today that Tesco has entered the estate agency business through the website and is now charging a minimum fixed fee of just £999 to sell a home.
A Tesco spokesman confirmed that the only presence on the i-Sold test site is purely a hyperlink to the retailer's site, a move that follows Spicerhaart acquiring the Tesco property business in 2007.
No properties will be advertised on Tesco's own site, the service will not be advertised in Tesco stores, and the business is not financially backed by the supermarket.
TPM closed within four months of launch when thousands of estate agents insisted that their housing stock be removed from the site, after they complained that houses were not being visited to verify the accuracy of details on the properties advertised on the site.
TPM was sold to Spicerhaart in April 2008 for an undisclosed sum, which at the time was reported as a "bargain basement" deal.
Spicerhaart wholly owns iSold.com, which will charge customers a flat fee of £999 to sell their property.
The iSold site will include free valuation and home consultation, professional property details and advertising on all major property portals, including Rightmove, Primelocation, FindaProperty.
A spokesman for i-Sold said: "We are providing a service that complements the current offering by giving consumers choice. There is still a bias towards the traditional high street agency approach and we don't want to lose this element.
"Where we are different is that we now able to offer lower estate agency costs using an online platform, but with the added bonus of an ‘on the ground' team of local valuers."
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