Two of the leading lights in the growing Proptech sector are now working with a company which has a product it claims allows traditional estate agencies to ‘take on Purplebricks.’
Hystreet offers a white labelled online estate agency platform which can be used by otherwise-traditional agencies to provide a Purplebricks-style hybrid service if they wish.
Now they have recruited the two men behind the PropTechConsult consultancy - James Dearsley and Eddie Holmes - to the team. Both have invested in the business and taken up senior advisory roles.
James Dearsley - a weekly contributor to Estate Agent Today - says: “We are looking forward to the challenge of helping high street estate agents leverage their service levels with useful technology tools. Understanding the business model behind it has been exciting and confirmed our belief that there are simple and cost effective solutions for estate agents looking to invigorate their business models into 2018 and beyond.”
The Hystreet platform has the functionality of online agencies and customers can request valuations, book viewings, make offers, provide feedback, negotiate a sale, and communicate with an agent online.
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I think the additional functionality is a good thing and overdue, these features are part of what tech brings to estate agency and should be embraced by all immediately they make sense. However where I think things need clarifying is this supposed association between these new features and cheap estate agency services. The two things need not and should not be associated in this way, quite the reverse. Any traditional agent adding online booking, offers and feedback is enhancing their service not cheapening it. I also don’t see any real cost savings unless you use the features to cut out other aspects of the service. The pressure on fees is going to be there while we have a shortage of supply and only excellent agents will be able to hold the line on fees by being able to demonstrate their added value to their clients. So I say embrace the future like we did with computers. The golf ball type writer was excellent in its day but nowadays a cloud based CRM is ubiquitous, if the suppliers of these systems hadn’t been snoozing on the job these new features would have come to the high st first rather than cheap online rivals.
Is this the end of the impartial view from the UK Proptech association? Could you please disclose all other involvements of these two gentlemen?
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