Online agency Settled has been described by a major national newspaper as having “halved the time it takes to sell a house.”
The agency - which earlier this year announced it is looking for an additional £1m in investment from funds or venture companies - launched only last year.
Now The Sunday Times, in a piece on the leading female entrepreneurs aged 35 or under, has included the agency’s chief executive, Gemma Young, as one of the country’s leading business women.
“Having worked as an estate agent and at Google, Young combined her knowledge of properties and tech to launch Settled last year. The aim: to make buying and selling a home far easier - by digitising it.
“Backed by investors from Google, Spark Ventures, Coca-Cola and Sky, Settled has facilited more than £40m of property sales and halved the time it takes to sell a house.”
Earlier this year Young said: “Our team and the tools we’ve created provide around the clock support, empowering individuals within a process that’s historically been characterised by middlemen, Chinese walls and breaks in communication. Settled does the opposite of traditional or hybrid models, encouraging real connections between buyers and sellers and addressing the complete end-to-end journey.”
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Of course they have.
Nice headline. I wonder how much due diligence the paper did before accepting Gemma's claims?
£40 million house sales - dependent on where their base is that sounds like just over 100 houses sold which is probably about the same as a small market town agent manages. On that basis what are they shouting about? If they had sold thousands of houses and managed to streamline the process then that's a difference kettle of fish but really 1 person in an office could handle that pipeline surely?!
With year 2 turnover of just £24k that sounds spot on. Not sure how they are dissruprting a market with thos etransaction volumes and dont see how they can survive much longer on that turnover.
What a load of tosh!
Please do tell how you have halved the time taken? - How are people allowed to get away with such outlandish claims?
Let's hope not half the asking price too.
Yet another ''press release'' - guys, do me a favour - this is not NEWS its TRASH
Had a mini rant on twitter about this over the weekend. They claim to have 'halved transaction times' but do not state timings, they claim to have 93% of sales complete compared to 63% with traditional agents- however when I enquired what % of listings they sold they did not answer! Finally, amd in my opinion most importantly, this is a copany getting huge press, backed by mega investors, lauded as a 'disruptor' yet Year 2 account at CH reveals an annual turnover of just £24,000. Pleae write an insightful balanced article on these things with some ex[ert & detailed insight- it took me all of 5 mins to pick apart their various claims.
Fair enough. At least you put across your reasons why the above is tosh, rather than the usual anti-online dross.
Anyone care to dispute what's been said? Lots of rants about it being a load of rubbish and regurgitated PR trash, but would it not be better to actually engage with what's been said before venting?
Thank you Jon. There tends to be the few usual suspects who love to comment on online agency based news and do exactly as you say. Of course I can see both sides of the coin, as much of the time there are not a lot of facts to support the claims of some of the online agents. End of the day, a person selling their property today is so much better informed that a lot were not so long ago. They are making decisions based on their interactions with high street and online agents and in my experience they choose based on which agent is best for them. What they are looking for is value for money and the fee that they paid to be justified, not a slagging match between the different types of agents out there.
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